RAJ KUMAR (FINANCE MANAGER) (1393 Points)
27 August 2010HELLO FRIENDS, MY CLIENT HAS FILED INCOME TAX RETURN OF AY 2009-10 (NIL RETURN) AND HE HAS RECEIVED INTIMATION U/S 143(1) WHICH SHOWS THE DETAILS OF HIS INCOME AND NO TAX IS PAYABLE AND REFUND IS DUE TO HIM. THEN WHAT IS THE REASON OF ISSUING INTIMATION U/S 143(1).
PLS. HELP ME.
CA Krishna Chaitanya M
(Chartered Accountant)
(463 Points)
Replied 27 August 2010
intimation u/s 143(1) refers to summery assesement, meant for correctness of income/loss furnished in the return and tax liability , it is done now under centralised processing system.
RAJ KUMAR
(FINANCE MANAGER)
(1393 Points)
Replied 27 August 2010
CAN I SIMPLY IGNORE THIS BECAUSE THERE IS NO TAX PAYABLE.
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 27 August 2010
Yes u can igonre it. It is simply stating that your return as filed has been accepted.
CAclubindia
