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Notice u/s 143 (1)

02 October 2020

what if I showed my Net total income below basic exemption limit and no deduction has been claimed.
Can I receive a notice u/s 143(1).

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3 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 02 October 2020

You have to show your actual income in income tax return...
if your income is more and you show it less in income tax return, than its chance that you will got income tax notice..

ayusmita (Tax consultant) (5890 Points)
Replied 02 October 2020

143(1) notice is given to a person if there's is a mismatch between the declaration of data by the person and the data available with the IT department ,or in case of wrong declaration of investment or error in tds and alll

sabyasachi mukherjee (27821 Points)
Replied 02 October 2020

Sec 143(1)

there are arithmetical errors.
an incorrect claim
disallowance of loss claimed
disallowance of expenditure indicated in the audit report but not taken into account in computing the total income .
disallowance of deduction claimed under section 10AA,80IA,80 IAB,80 IC,80 ID.