Have you received your income tax intimation under section 143(1) ?
Don’t panic if you have not received it yet.
Check your registered mail ID or login in the income tax website to check the status of your income tax return, where you can download the intimation under section 143(1).
Intimation under section 143(1) is proof of processing of your income tax return.
It just shows that your income tax return is free from any arithmetic error or incorrect claim apparent from any information in the return. And if there is any such error, then it will show as difference in computation between return filed by you and processed by IT department.
The intimation may ask you to pay the demand, if any arises by reason of difference in computation of income tax, or it may show the refund amount.
Simply on receipt of intimation under section 143(1), go through the intimation under section 143(1).
It has two columns, one provides for computation of income tax as per the return you filed and another column provides for computation of income tax as per IT department.
Check if both the computation are same. If there is any difference then try to find the reason of difference. There are some common reasons of difference in computation are as follows:
- Difference in claim of TDS
- Difference in Payment of interest U/s 234A , 234B, 234C.
- Difference due to MAT provisions.
If there is any demand simply pay the demand by challan No. 280 and pay it under code “400” (Tax on Regular Assessment).
If there is any refund mentioned in the intimation, then check the status of income tax refund status.
So when a taxpayer files the return of income filed u/s 139 or in response to notice under section 142(1), it shall be processed in the following manner:
The total income or loss shall be computed after making the following adjustments, namely:
- Any arithmetic error in the return; or
- Any incorrect claim which is apparent from any information in the return.
“Any incorrect claim apparent from any information in the return” shall mean the following claims, on the basis of an entry in the return.
- Of an item which is inconsistent with another entry of the same or some other item in the return.
- In respect of which the information required to be furnished under the Act to substantiate the entry has not been furnished.
- In respect of a deduction, where such deduction exceeds specified statutory limit expressed as monetary amount or percentage or ratio or fraction.
The tax and interest, if any, shall be computed on the basis of total income computed after considering the adjustments mentioned above;
The tax payable or refund due to the assessee shall be determined after giving credit to TDS , TCS, Advance tax paid, rebate u/s 87 to 88E, relief allowable under DTAA or U/s 91, self –assessment tax paid or any other amount paid otherwise than by way of tax or interest.
Intimation is required to be sent in case where there is demand payable by the assessee or where refund is due to the assessee. Again, intimation shall be sent when the loss declared by the assessee is adjusted but no tax or interest is payable or no refund is due. In all other cases, acknowledgement issued on filing of the return of income shall be deemed to be intimation.
Intimation shall be sent within one year from the end of the financial year in which the return is made- Proviso to sec 143(1). If return is revised u/s 139(5), the period of limitation of one year shall commence from the end of financial year in which such revised return was filed.
Centeralised Processing of returns- Section 143(1A)
For the purpose of processing of returns u/s 143(1), the Board is empowered to make a scheme for centralized processing of returns with a view to expeditiously determined the tax payable or refund due to the assessee.
Processing of return u/s 143(1) not necessary – Sec 143(1D)
Where a notice has been issued to the assessee u/s 143(2), processing of return u/s 143(1) shall not be necessary.
If you still have doubts about the intimation, ask here through comments or else contact your CA.
Request intimation under section 143(1)
Do you know that you can send a request online for intimation under section 143(1), if you have not received it.
Just log in to income tax account and then click on the ‘MY ACCOUNT’ tab on top right.
you will find ‘request for intimation under section 143(1)’ in the drop down list.
Click on it, select the year and submit the request.
It takes two to three days to receive the intimation in your registered mail ID.
You can also check status of your request in ‘MY REQUEST LIST’ tab on top left.
Read here the bare act on section 143(1)