ITR filing, Aug. 29 -- An official communication issued by the Income Tax Department to a taxpayer concerning various discrepancies, non-compliance, or other matters linked to their Income Tax Return (ITR) is called an income tax notice. Different types of income tax notices are issued under specific sections of the Income Tax Act and require timely action to avoid fines.
Here's a detailed guide to the types of income tax notices and what to do if you receive one.
Section 143(1) of the Income Tax Act relates to the initial assessment of a taxpayer's income tax return. The Income Tax Department issues an automated, detailed notice after performing basic checks to compare the information in the return with its records.
This summary asses...
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