Income Tax Notices

This notice is issued by the Income Tax Department of India to a taxpayer when there’s a discrepancy found in the income declared and the income assessed by the department through a preliminary assessment.
It is a provisional assessment where the taxpayer is given an opportunity to explain or rectify the discrepancies before the final assessment is made.
This notice is usually issued when the department finds any inconsistency in the tax return filed by the taxpayer and the information available with the department from other sources like TDS (Tax Deducted at Source), TCS (Tax Collected at Source), or other financial transactions.

This notice is issued to a taxpayer by the Income Tax Department to provide necessary information or documents related to their income or expenditure.
It is generally issued when the assessing officer wants to verify the details provided in the tax return or requires additional information to complete the assessment.
The taxpayer is required to comply with the notice by providing the requested information within the stipulated time frame to avoid penalties or further scrutiny.

This notice is issued by the Income Tax Department to reopen an assessment that has been completed earlier if the assessing officer has reason to believe that income has escaped assessment.
It is issued within a specific time frame after the end of the relevant assessment year and requires the taxpayer to furnish the necessary details or documents for reassessment.
The notice under section 147 is issued after obtaining necessary approval from higher authorities within the department and is usually based on concrete information or evidence suggesting underreporting of income.

This notice is issued by the Income Tax Department to a taxpayer when there is an error or omission in the tax return filed by the taxpayer.
It gives the taxpayer an opportunity to rectify the error or omission within a specified time frame mentioned in the notice.
The error could be related to mismatch in tax computation, details of income, claiming ineligible deductions, or any other discrepancy found during the processing of the tax return.

Section 154 of the Income Tax Act provides provisions for rectification of mistakes apparent from the record by the Income Tax Department.
This rectification can be initiated either by the taxpayer or by the assessing officer if any mistake is noticed in the order passed by the assessing officer.
It is a mechanism to correct errors such as clerical mistakes, arithmetical errors, incorrect application of law, or any other mistake apparent from the record.
The rectification under section 154 can be made within a specific time frame mentioned in the section to ensure accuracy and fairness in tax assessments.