Got notice u/s 143(1)
This query is : Resolved
08 June 2018
Sir,
I got Notice u/s 143(1) regarding the tax demanded Rs. 200 /- . (Actually tax tax liability id Rs. 196 /- but rounded off to Rs. 200 /- )
I have not shown bank Interest of Rs. 1891 /- and TDS Rs. 194 /- while filing ITR-1.
In this notice , the above income is mentioned under other source of Income but TDS for the same is not mentioned .
I would like to know the procedure for response to that notice.
urgent......
I got Notice u/s 143(1) regarding the tax demanded Rs. 200 /- . (Actually tax tax liability id Rs. 196 /- but rounded off to Rs. 200 /- )
I have not shown bank Interest of Rs. 1891 /- and TDS Rs. 194 /- while filing ITR-1.
In this notice , the above income is mentioned under other source of Income but TDS for the same is not mentioned .
I would like to know the procedure for response to that notice.
urgent......
08 June 2018
TDS is deducted on FD interest. You can file rectification u/s 154 from your e-filing account and claim the tds for the same but just check the same matches with your 26as then file. Your demand will be dropped automatically once rectification filed is processed and matches with your 26as
08 June 2018
Its not FD its just Saving account in SBI.... then what to do ?
08 June 2018
TDS is not deducted on savings interest. You can claim your tds of Rs 194 by filing rectification u/s 154 but check your 26as before that and Interest on savings bank is exempt upto 10,000/- u/s 80TTA.
08 June 2018
yes, but y bank deducted .....i did't got....they deducted for small amount of Interest . eg deducted for amount paid for for Rs. 11 , 20 , 25 ,58 ,298 ,45, 56
08 June 2018
Rs. 194 is reflected in 26AS
08 June 2018
Which section is tds deducted for... you can see that and come to know it will be there in 26as
08 June 2018
Its Section 194A is showing in 26AS
26 July 2024
**Response to Notice U/s 143(1) of the Income Tax Act**
Receiving a notice under Section 143(1) typically means that the Income Tax Department has processed your tax return and found discrepancies or errors that need to be addressed. Here's a structured approach to respond to the notice:
### **1. Understand the Notice**
- **Amount Demanded**: The notice mentions a tax demand of ₹200, but your actual tax liability is ₹196, which suggests rounding discrepancies.
- **Discrepancies**: The notice mentions income under "Other Sources" but does not reflect the TDS.
### **2. Steps to Respond**
**a. Verify the Details**
1. **Income Details**: Ensure that the bank interest of ₹1,891 is correctly included under "Other Sources" in your return. Cross-check this with Form 26AS to confirm the TDS details.
2. **TDS Details**: Confirm that TDS of ₹194 was deducted and is reflected in your Form 26AS.
**b. Rectify the Discrepancy**
1. **Calculate Correct Tax**: Verify that your tax liability is indeed ₹196 and not ₹200. The rounding off to ₹200 might be the reason for the difference. This rounding issue is common and may not need significant adjustments.
2. **Update Your Records**: Make sure the bank interest and TDS details are correctly included in your records and Form 26AS.
**c. Respond to the Notice**
1. **Prepare a Response**:
- **Draft a Reply**: Write a letter addressing the discrepancies mentioned in the notice. Clearly state the correct income, TDS details, and the correct tax liability.
- **Attach Supporting Documents**: Include Form 26AS, bank interest statements, and TDS certificates as evidence to support your claim.
2. **Submit the Response**:
- **Online Portal**: You can submit your response through the Income Tax e-Filing portal.
- Log in to the [Income Tax e-Filing Portal](https://www.incometax.gov.in/).
- Go to the "e-File" section, select "Income Tax Return" and then choose "Response to Notice."
- Attach your reply and supporting documents.
- **Physical Submission**: Alternatively, you can mail your response to the address mentioned in the notice, if online submission is not possible.
**d. Seek Professional Advice**
1. **Consult a Tax Professional**: If you are unsure about how to handle the notice or how to prepare the correct response, consult a CA or tax advisor. They can provide guidance specific to your situation and ensure that your response is accurate and compliant.
### **Sample Response Letter**
Here’s a template for your reference:
```plaintext
[Your Name]
[Your Address]
[City, State, PIN Code]
[Email Address]
[Phone Number]
[Date]
To,
The Assessing Officer,
Income Tax Department,
[Address mentioned in the notice]
Subject: Response to Notice U/s 143(1) for AY [Assessment Year]
Dear Sir/Madam,
I am writing in response to the notice under Section 143(1) of the Income Tax Act for the Assessment Year [AY]. I acknowledge the demand of ₹200 mentioned in the notice, which is slightly different from my actual tax liability of ₹196 due to rounding off.
Upon reviewing my return, I found the following discrepancies:
1. **Bank Interest**: I have received bank interest income of ₹1,891 which was not mentioned in the initial return. The correct income has been included in my revised calculations.
2. **TDS**: The TDS of ₹194 was deducted from my income. I have attached the TDS certificates and Form 26AS as evidence.
I request you to adjust the tax demand based on the corrected details:
- **Bank Interest**: ₹1,891
- **TDS Deducted**: ₹194
- **Correct Tax Liability**: ₹196 (as per revised calculations)
Please find the enclosed documents for your reference:
- TDS Certificates
- Form 26AS
- Bank Interest Statements
I kindly request that you revise the tax demand accordingly. If there are any further discrepancies or clarifications needed, please let me know.
Thank you for your assistance.
Yours sincerely,
[Your Name]
[Your PAN]
```
### **Key Points to Remember**
- **Accuracy**: Ensure that all information provided in your response is accurate and supported by appropriate documentation.
- **Timeliness**: Respond to the notice within the stipulated time frame to avoid any penalties or further issues.
- **Follow-Up**: After submission, keep track of any updates or further communications from the tax department.
This approach should help you resolve the discrepancies and ensure that your tax records are accurate. If needed, professional guidance can be invaluable in addressing such issues.
Receiving a notice under Section 143(1) typically means that the Income Tax Department has processed your tax return and found discrepancies or errors that need to be addressed. Here's a structured approach to respond to the notice:
### **1. Understand the Notice**
- **Amount Demanded**: The notice mentions a tax demand of ₹200, but your actual tax liability is ₹196, which suggests rounding discrepancies.
- **Discrepancies**: The notice mentions income under "Other Sources" but does not reflect the TDS.
### **2. Steps to Respond**
**a. Verify the Details**
1. **Income Details**: Ensure that the bank interest of ₹1,891 is correctly included under "Other Sources" in your return. Cross-check this with Form 26AS to confirm the TDS details.
2. **TDS Details**: Confirm that TDS of ₹194 was deducted and is reflected in your Form 26AS.
**b. Rectify the Discrepancy**
1. **Calculate Correct Tax**: Verify that your tax liability is indeed ₹196 and not ₹200. The rounding off to ₹200 might be the reason for the difference. This rounding issue is common and may not need significant adjustments.
2. **Update Your Records**: Make sure the bank interest and TDS details are correctly included in your records and Form 26AS.
**c. Respond to the Notice**
1. **Prepare a Response**:
- **Draft a Reply**: Write a letter addressing the discrepancies mentioned in the notice. Clearly state the correct income, TDS details, and the correct tax liability.
- **Attach Supporting Documents**: Include Form 26AS, bank interest statements, and TDS certificates as evidence to support your claim.
2. **Submit the Response**:
- **Online Portal**: You can submit your response through the Income Tax e-Filing portal.
- Log in to the [Income Tax e-Filing Portal](https://www.incometax.gov.in/).
- Go to the "e-File" section, select "Income Tax Return" and then choose "Response to Notice."
- Attach your reply and supporting documents.
- **Physical Submission**: Alternatively, you can mail your response to the address mentioned in the notice, if online submission is not possible.
**d. Seek Professional Advice**
1. **Consult a Tax Professional**: If you are unsure about how to handle the notice or how to prepare the correct response, consult a CA or tax advisor. They can provide guidance specific to your situation and ensure that your response is accurate and compliant.
### **Sample Response Letter**
Here’s a template for your reference:
```plaintext
[Your Name]
[Your Address]
[City, State, PIN Code]
[Email Address]
[Phone Number]
[Date]
To,
The Assessing Officer,
Income Tax Department,
[Address mentioned in the notice]
Subject: Response to Notice U/s 143(1) for AY [Assessment Year]
Dear Sir/Madam,
I am writing in response to the notice under Section 143(1) of the Income Tax Act for the Assessment Year [AY]. I acknowledge the demand of ₹200 mentioned in the notice, which is slightly different from my actual tax liability of ₹196 due to rounding off.
Upon reviewing my return, I found the following discrepancies:
1. **Bank Interest**: I have received bank interest income of ₹1,891 which was not mentioned in the initial return. The correct income has been included in my revised calculations.
2. **TDS**: The TDS of ₹194 was deducted from my income. I have attached the TDS certificates and Form 26AS as evidence.
I request you to adjust the tax demand based on the corrected details:
- **Bank Interest**: ₹1,891
- **TDS Deducted**: ₹194
- **Correct Tax Liability**: ₹196 (as per revised calculations)
Please find the enclosed documents for your reference:
- TDS Certificates
- Form 26AS
- Bank Interest Statements
I kindly request that you revise the tax demand accordingly. If there are any further discrepancies or clarifications needed, please let me know.
Thank you for your assistance.
Yours sincerely,
[Your Name]
[Your PAN]
```
### **Key Points to Remember**
- **Accuracy**: Ensure that all information provided in your response is accurate and supported by appropriate documentation.
- **Timeliness**: Respond to the notice within the stipulated time frame to avoid any penalties or further issues.
- **Follow-Up**: After submission, keep track of any updates or further communications from the tax department.
This approach should help you resolve the discrepancies and ensure that your tax records are accurate. If needed, professional guidance can be invaluable in addressing such issues.
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