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Notice 142 (1)

CS Abhijeet soni Advocate (CS LLB MCOM MBA (FINANCE) MPHIL CA INTER PGDCA PGDA&PR ) (931 Points)

22 December 2013

SIR I GOT NOTICE UNDER SECTION 142 (1) WHAT IS THIS ? AND WHAT SHOULD I DO REGARDING THIS. THANKS IN ADVANCE

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5 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 22 December 2013

It seems you have not filed your IT returns. This notice is to remind you that you are required to file your IT returns for the relevant year.

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POONAM (article assistent) (71 Points)
Replied 22 December 2013

The notice u/s142(1) is issued to the assessee where the ROI is not filed ,within the due date date of section 139(1) I.e 31th July Since the time limit to file the ROI is 1 year from the end of relevant A.Y. but here in this case u have to file ROI the time prescribed under the notice nd 1 year from the end of relevant A.Y whichever is earlier...

CS Abhijeet soni Advocate (CS LLB MCOM MBA (FINANCE) MPHIL CA INTER PGDCA PGDA&PR ) (931 Points)
Replied 22 December 2013

I have filed my return in timely.

Pavithra (Ex-Article) (53 Points)
Replied 22 December 2013

Look at the notice.. it dept is looking for explanations regarding specific questions that they have w.r.t. your return, in case, and as you say, you have

Vishnu.S. (Article) (31 Points)
Replied 22 December 2013

As correctly stated by Pavithra, the department might be looking for some explanations about certain items in your ITR or might require a statement of assets and liabilities. It is therefore important to see what the dept has stated in the notice..