Query on income tax notice 142(1)
This query is : Resolved
10 July 2014
Hi Sir,
A notice under section 142(1) in connection with the assessment for the A.Y. year 2010-11 served on 12.6.2014.
There is para what does that mean can you please help us to understand what documents i need to carry to income tax office in this regard.
(a) Prepare a true and correct return of your income/the firm's income/family's income /the local authority's income/the company's income/income of the A.O.P/income of the body of individuals/income of the respect of which you are assessable under the income tax act 1961 during the previous tear relevant to the assessment
year mentioned above.
Return was filed previously.
Rgds
A notice under section 142(1) in connection with the assessment for the A.Y. year 2010-11 served on 12.6.2014.
There is para what does that mean can you please help us to understand what documents i need to carry to income tax office in this regard.
(a) Prepare a true and correct return of your income/the firm's income/family's income /the local authority's income/the company's income/income of the A.O.P/income of the body of individuals/income of the respect of which you are assessable under the income tax act 1961 during the previous tear relevant to the assessment
year mentioned above.
Return was filed previously.
Rgds
10 July 2014
Hi Madhvi,
This notice is usually served to call upon documents and details from the tax payers, and this is basically done to take a particular case under assessment. By serving a notice u/s 142 (1) the assessing officer, in appropriate circumstances, may call upon the assessee.
To furnish a return of his income or the income of any other person in respect of which he is assessable, where he has not filed his return of income within the normal time allowed or before the end of the relevant assessment year.
To produce or cause to be produced accounts or documents which the AO may require for the purpose of making an assessment under the Act.
To furnish in writing any information on any point of matter including statement of the assessee
Compliance with this notice u/s 142(1) is mandatory even if the tax payer is of the opinion that the accounts/documents requested are irrelevant.
This notice is usually served to call upon documents and details from the tax payers, and this is basically done to take a particular case under assessment. By serving a notice u/s 142 (1) the assessing officer, in appropriate circumstances, may call upon the assessee.
To furnish a return of his income or the income of any other person in respect of which he is assessable, where he has not filed his return of income within the normal time allowed or before the end of the relevant assessment year.
To produce or cause to be produced accounts or documents which the AO may require for the purpose of making an assessment under the Act.
To furnish in writing any information on any point of matter including statement of the assessee
Compliance with this notice u/s 142(1) is mandatory even if the tax payer is of the opinion that the accounts/documents requested are irrelevant.
10 July 2014
Sir,
What do you mean by income of any other person "To furnish a return of his income or the income of any other person in respect of which he is assessable"
So only the documents showing the return filed for the assessment year in question need to be produced?
What do you mean by income of any other person "To furnish a return of his income or the income of any other person in respect of which he is assessable"
So only the documents showing the return filed for the assessment year in question need to be produced?
10 July 2014
In clubbing provisions, the income of other person is taxable in assesse return, for those cases I have mentioned the above statement.
Yes! Documents pertaining to the AY mentioned in the notice needs to be produced for first hearing
Yes! Documents pertaining to the AY mentioned in the notice needs to be produced for first hearing
10 July 2014
Sir,
What do you mean by income of any other person "To furnish a return of his income or the income of any other person in respect of which he is assessable"
So only the documents showing the return filed for the assessment year in question need to be produced?
What do you mean by income of any other person "To furnish a return of his income or the income of any other person in respect of which he is assessable"
So only the documents showing the return filed for the assessment year in question need to be produced?
10 July 2014
Thank you Sir for information. Will seek more help in case of further clarification.
Rgds
Madhvi
Rgds
Madhvi
10 July 2014
Anytime. For further queries you may contact on bmohit02@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- GST Regis.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Confusion around Form 26QB fields
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
