As per the Income Tax Act of 1961, all taxpayers in India – including individuals, firms, associations, Limited Liability Partnerships (LLPs), and Hindu Undivided Families (HUFs) – are required to file Income Tax Returns (ITRs) every year.

For individual taxpayers not covered under the tax* audits, the due date for ITR filing for every financial year is 31^st July of the next financial year. For example, for filing IT returns for the financial year 2021-22, the due date would be 31^st July 2022. In the case of individuals and companies covered under tax* audits, the due date for filing ITR returns is 30^th September.

However, the process of ITR filing does not end here. After you’ve filed your IT returns, the Income Tax Department will start the verification of your return. After successful verification, it will send you an intimation to notify you if you’re liable to get a refund from the IT department or if you need to pay any further tax*.

This intimation is sent under section 143(1) in the Income Tax Act on the registered e-mail id of the taxpayer. However, deciphering this intimation isn’t always easy. Here is a complete guide to reading the notice sent under section 143(1) and understanding what it means.

Where Will You Receive The Intimation?

As mentioned before, you will receive the intimation sent under section 143(1) on your e-mail id registered with the Income Tax department. Your registered e-mail id is the one that you use for filing your income tax* returns.

Further, the income tax* department will also send an SMS to your registered mobile number to inform you that your tax intimation notice has been sent to your registered e-mail id.

When Will You Receive The Intimation?

Usually, you will receive your intimation under section 143(1) within a month after filing your income tax* return. However, sometimes it may take longer than a month. As per the existing income tax* laws in India, the income tax* department has to process the ITRs of assesses within one year after the end of the financial year in which they are filed.

It means that for ITRs filed for the financial year 2020-2021; the income tax* department has time till 31^st March of 2022 to send intimations under section 143(1).

In case you do not receive the intimation even after the 31^st March of the next financial year, it may be because of one of the two issues mentioned below:

• Your income tax* return has not been processed successfully by the IT department. Or, there is an error in sending you the intimation notice. In such a case, you can visit the official website of the income tax department and check all details.
• It might also happen that you have not submitted all documents while filing your ITR, and the IT department has not processed your ITR at all. In such a case, you can raise a grievance with the department by visiting their official website.
  
  

How Can I Open and Read the Intimation Received at My Registered E-Mail Address?

After you’ve received the tax* intimation notice under section 143(1), you can download it on your PC or smartphone. You can also visit the official website of the income tax* department and click on “income tax intimation 143(1) download” to download your tax* intimation notice.

Then, you follow the steps mentioned below to open your intimation notice:

1. Download the intimation notice in PDF format and click on the file.
2. You will need to enter a password to open your tax intimation notice. Your password will be your Permanent Account Number (PAN), followed by your date of birth. Everything will be in lower case. For example, if your PAN number is ABCDE1234F and your date of birth is 1^st April 1982, then your password will be “abcde1234f01041982”.
3. Next, you need to verify that all details mentioned in the intimation notice are correct. Give special attention to your name, address, and PAN.
4. After verifying all the details, you can move toward reading the notice. You can check if the tax* calculations mentioned in the notice are the same as you’ve mentioned while filing your ITR return. The notice will also show your annual income and the tax* deductions that you’ve availed. In case of any discrepancy, you need to inform the IT department at the earliest.
5. Read whether you’re liable to receive a refund from the Income Tax department or if you’re required to pay any further tax* under section 234F.
   
   

What to Do After Receiving the Intimation?

In case you’re liable to get a refund from the income tax* department, you’re not required to do anything. The refundable money will be credited directly to your registered bank account within a few months. The department will send you a notification once it processes the refund.

However, if you’re asked to pay any additional tax* by the department, you’re required to pay it within 30 days after receiving the intimation. If you miss this deadline, the department charges you with one of the following penalties:

• An interest of 1% per month for every subsequent month after the delay of your payment
• A penalty as decided by the assessing officer under section 221. This penalty could not be more than the pending tax* amount you are required to pay
  
  

To Conclude

We hope that this blog has cleared the air regarding the intimation sent under section 143(1) of the Income Tax Act. Earlier, taxpayers were required to make themselves physically available in the Income Tax office after receiving this intimation notice. However, thanks to the advancements in technology, you can now respond and make the payment online without any hassles.

If you want plan out for your tax planning, you can buy a life insurance policy from Tata AIA. Life insurance policy plans offer various tax* benefits on the premium amount as well as the maturity and death benefits. Our Tata AIA life insurance plans are affordable, easy to purchase, and customer-friendly. Visit our website to know more.

L&C/Advt/2022/Jun/1242