Hi, I have received a notice under 142(1) of income tax act 1961. The notice says this "In connection with assessment for the A.Y 2017-18, you are required to prepare a true and correct return of your income during previous year relevant to assessment year mentioned above. The return should be in appropriate form as prescribed in Rule 12 of income tax rules, 1962. It should be duly verified and signed in accordance with provision of section 140 of Income tax act, 1961. The said return of income should be furnished as per conditions and manner prescribed in Rule 12 of Income tax rules, 1962, on or before 31/03/2018" I have filed my return for this A.Y and have been verified on the incometaxefiling site. I am not sure what is this notice trying to convey. Any help on understanding this would be great. Thanks, Srikanth
Dear Sir,
File a manual reply to the concerned AO alongwith the copy of ITR duly filed by you. If you have received notice through e-mail, reply to the above e-mail along with ITR filed by you.
Also check whether the concerned ITR has been duly processed or not till date.
Thanks
Hi Srikanth,
If this is the case, I recommend you to prepare a submission mentioning this fact and enclose the acknowledgement of return and file it with the concerned person.
We can help you in analysing the situation and drafting a suitable submission.
Please feel free to reach out to me
Thanks and regards
Abhishek Dugar
CA CS B.com
Notice under sec 142(1) is Inquiry before assessment.
As per the information provided by you it seems that you have chosen incorrect ITR Form for ITR filling (Rule 12 specifies ITR no according to Person income source).
It is advisable to get in touch with consultant so that proper reply can be submitted with appropriate rectification.
It is a Pre-defined format of Notice u/2 142(1).
As you have already filed ITR, you can submit the copy of already filed ITR form to the official.
However if there were any omissions or errors or any income was not included in ITR then you should include the same in your ITR and file the revised one along with previously filed ITR.
Hi Swati, "As per the information provided by you it seems that you have chosen incorrect ITR Form for ITR filling (Rule 12 specifies ITR no according to Person income source)." What does this mean? I filed ITR 1 form as there were no capital gains. Could you please elaborate.
Hi
Can you please let us know what all sources of income you had in that year?
Was it only salary and interest?
What all sources of income you shown in ITR-1?
what is your sources of income?
Salary from my employee and Interest from my bank account.
Then ITR 1 is ok
Rule 12 specifies the form to be selected by different assessee's. You selected the correct ITR form i.e. ITR-1. The only solution is to file submission as suggested to you before both online and offline.
ok..ITR 1 is to be filled in these case.
See notice is talking about Rule 12 and sec 140, so we have to check both,means under which head we went wrong. Thats why i mentioned about Incorrect ITR Selection.
But Now full details and documents needed to be verified before giving any opinion.
Just check whether Return Filled is processed or not?
Hi,
My suggestion is to respond to the notice along with the acknowledgement of the return filed by you. Also check the status of the return that was filed by you online.
regards,
Nikhil.
Dear Sir,
This is in regards to the additional information required by your AO in respect to your ROI filed and your Assessment for said AY.
Kindly contact your AO with your Return and other e-filed particulars.
Thanks,
CA Sourabh Pahuja
Hi
The ITR form has been selected correctly.
Have you received any intimation after return filing?
Did your 26AS statement show any other income?
Please check the status of your returns in the efiling portal and then respond to the pending items, if any, in the tab "Worklist"
If there are pending issues, I suggest that you should respond preferably with the help of your local CA.
