Notice u/s.143(2)

Others 1183 views 6 replies

Vishal

Student

26 Points Posted on 01 September 2018

I have received a notice under section 143(2) for AY 2017-2018(of which ITR is already processed)regarding cash deposits and withdrawals.Where i have been asked to reply through e-proceedings.My Ca's advice is to wait for questionnaire U/s.142(1) to enable me to reply.(As U/s. 143(2) there are no specific questions or reasons.)Due date for 143(2) is 5/9/2018.What should i do wait as per Cas advice Or ?? Please help.

Replies (6)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211715 Points Posted on 01 September 2018

No need to worry. Your CA has rightly advised. You may reply by 5th Sept., as an acknowledgement of the letter, along with your readiness to submit any specific details, whenever asked.

Meanwhile try to accumulate all the documentary evidences.

Good Luck.......

Vishal

Student

26 Points Posted on 01 September 2018

But Sir,what if i did not get the questionnaire Us.142(1) before 5 th september and due date for notice U/s.143(2) is skipped?I got to know from articles online that AO can close the assessment as per information he has and/or impose a fine of ₹10000 and/or also sentence me to 1 year of jail ,for not responding to notice Us143(2).What should i do?

Vishal

Student

26 Points Posted on 01 September 2018

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211715 Points Posted on 01 September 2018

Once you acknowledge the receipt of letter,(as said earlier) it is considered as the response. And for imposing any fine or penalty, at least a reminder is sent.

Secondly. you may ask for specific requirement in the said letter,or if any detail is asked in the notice, provide it and ask for any further requirement.

rama krishnan

12244 Points Posted on 01 September 2018

in 143(2) you would've required to file details in support of income declared in your ITR. you have to submit those details on or before specified date in notice

MANU KURIAN

TAX CONSULTANT

6 Points Posted on 23 October 2018

The Clarification asked is Just " Cash Deposit" What whould be our replay for cash deposit. We got he sae notice for 2015-16 FY , HAving cash depositof 1 crore and the same is transfered for ticket buying and other related expenses.