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Digital Signature Certificate



A digital signature or ID is more commonly known as a digital certificate. To digitally sign an Office document, you must have a current (not expired) digital certificate. Digital certificates are typically issued by a certificate authority (CA), which is a trusted third-party entity that issues digital certificates for use by other parties. There are many commercial third-party certificate authorities from which you can either purchase a digital certificate or obtain a free digital certificate. Many institutions, governments, and corporations can also issue their own certificates. A digital certificate is necessary for a digital signature because it provides the public key that can be used to validate the private key that is associated with a digital signature. Digital certificates make it possible for digital signatures to be used as a way to authenticate digital information. Certificates serve as proof of identity of an individual or organization for a certain purpose on online / computer. Digital Signature Certificate (DSC) Certificate can be presented electronically to prove your identity, to access information or services on the Internet or to sign certain documents digitally manually.


  • Digital Signature Certificate (DSC) Applicants can directly approach Certifying Authorities (CAs) with original supporting documents, and self-attested copies will be sufficient in this case
  • DSCs can also be obtained, wherever offered by CA, using Aadhar eKYC based authentication, and supporting documents are not required in this case
  • A letter/certificate issued by a Bank containing the DSC applicant’s information as retained in the Bank database can be accepted. Such letter/certificate should be certified by the Bank Manager .

Physical documents are signed manually, similarly, electronic documents, for example e-forms are required to be signed digitally using a Digital Signature Certificate.
A licensed Certifying Authority (CA) issues the digital signature. Certifying Authority (CA) means a person who has been granted a license to issue a digital signature certificate under Section 24 of the Indian IT-Act 2000.
The list of licensed CAs along with their contact information is available on the MCA portal. Certifying Authorities

The different types of Digital Signature Certificates are:

Class 2: Here, the identity of a person is verified against a trusted, pre-verified database.
Class 3: This is the highest level where the person needs to present himself or herself in front of a Registration Authority (RA) and prove his/ her identity.

Documents Required for Digital Signature Certificate:- (All copies of documents should be self-attested by the customer)

Person photograph
Proof of identity.
A self attested copy of PAN Card.
Proof of residence - a copy of latest utility bill.
Mobile number
Email id

Process:

Print application form as per your requirement
Complete documents as per list above
After confirmation please make the necessary payment
Send documents by courier or ask for a pickup
Receive your digital signature through courier or collect from our office.

Directors Identification Number



DIN Number is an 8 digit number. Once, DSC is obtained for the applicant DIN Application can be filed with the MCA. The DIN application must be electronically signed with the Digital Signature Certificate; hence, the requirement for obtaining DSC prior to DIN.
Once the DIN application is filed and the application is approved, DIN number is provided instantaneously. In case any errors are noticed in the DIN application, further documents are requested by the DIN cell. On submission of the required documents, the DIN cell would then allot the DIN number in 2 – 3 working days.
DIN numbers do not have an expiry date and no further compliance formalities are required for maintaining the validity of a DIN number. DIN numbers are allotted by way of intimation through DIN allotment letter and no other documents are issued.


Documents required:- (All copies of documents should be self-attested by the customer)

The DIN application must also include a photo of the applicant along with identity and address proof.

DIN Number Search

Information relating to allotted DIN numbers can be accessed through the MCA’s Online DIN Search Facility:
To find DIN number from allotted information, visit the DIN approval letter facility.
To find allotted information from a DIN Number, visit the Verify DIN/DPIN search facility.

Process for DIN:

Once the DIN application is filed and the application is approved, DIN number is provided instantaneously.
In case any errors are noticed in the DIN application, further documents are requested by the DIN cell.
On submission of the required documents, the DIN cell would then allot the DIN number in 2 – 3 working days.

E-Filings



The process of submitting tax returns over the Internet, using tax preparation software that has been pre-approved by the relevant tax authority.


Required documents for Applying E-Filings:- (All copies of documents should be self-attested by the customer)

PAN card
Aadhar card
Bank account details
Income tax E-filing password
Investment details

Process of E-filings:

Register in on line, Log in. (for new)
Enter personal information.
Enter salary details.
Enter deduction details.
Add details of taxes paid.
E-FILE your return.

ITR Filings



INCOME TAX RETURNS FILING

We serve in filing the returns of the people as well as business entities at the appropriate time. Income tax returns must be filed by individuals and legal entities in India every year.
It is mandatory for individuals, NRIs, partnership firms, LLPs, Companies, Trust to file income tax returns each year. Individuals and NRIs are required to file income tax return, if their income exceeds the exemption limit. Partnership firms are required income tax return - irrespective of amount of income or loss. All companies are mandatorily required to file income tax return. Finally, it is mandatory for most types of trust to file income tax every year, while some types of trusts are required to file return of income if its gross total income exceeds the exemption limit.


Documents that are required for the Income Tax Filing are:- (All copies of documents should be self-attested by the customer)

PAN number
Aadhar copy
Income details- Form 16/salary certificate/details of income from salary
proof of income from other sources.
Bank statement for one year
Income tax login password (if any)
Mobile number
Email id


Income Tax Returns:
Process:

First, log on to IncomeTaxIndiaeFiling.gov.in And register on the website.
Your Permanent Account Number (PAN) is your user ID.
View your tax credit statement or Form 26AS. The TDS as per your Form 16 must tally with the figures in Form 26AS.
Click on the income tax return forms and choose the financial year.
Download the ITR form applicable to you. If you're exempt income exceeds Rs.5,000, the appropriate form will be ITR-2 (If the applicable form is ITR-1 or ITR 4S, you can complete the process on the portal itself, by using the 'Quick e-file ITR' link - this has been explained below).
Open excel utility (the downloaded return preparation software) and fill out the form by entering all details using your Form 16.
Check the tax payable amount by clicking the 'calculate tax' tab.
Pay tax (if applicable) and fill in the challan details. Confirm all the data provided in the worksheet by clicking the 'validate' tab.
Generate an XML file and save it on your desktop.
Go to 'upload return' on the portal's panel and upload the saved XML file.
A pop-up will be displayed asking you to digitally sign the file.
In case you have obtained a digital signature, select 'Yes'. If you have not got digital signature, choose 'No'.
The acknowledgment form, ITR Verification (ITR-V) will be generated which can be downloaded by you.
Take a printout of the form ITR-V and sign it in blue ink. Send the form by ordinary or speed post to the Income-Tax Department-CPC.

Form ITR-1



ITR-1 can be filed by resident individuals only having income of up to Rs 50 lakh. The source of this income should be salary, one house property, and other sources such as interest income etc.


Who is Eligible to File ITR 1:

ITR -1 Form is a simplified one page form for individuals earning income up to Rs 50 lakhs from the following sources.
1. Income from Salary/Pension
2. Income from One House Property (excluding cases where loss is brought forward from previous years)
3. Income from Other Sources (excluding winning from Lottery and Income from Race Horses)


Structure of the ITR-1 Form:
ITR-1 is divided into:

Part A: Personal Details
Part B: Gross Total Income
Part C: Deductions and Taxable Total Income
Part D: Tax Computation and Tax Status
Schedule IT: Details of Advance Tax and Self-Assessment Tax Payments
Schedule TDS: Details of Tax Deducted at Source

Required documents at hand to pace up the process:
  1. PAN
  2. Aadhar
  3. Bank account details
  4. Form 16
  5. Type of income source
Steps to File Form ITR-1:

Login to e- Filing application.
Go to 'e File' 'Prepare and Submit ITR Online'.
Select the Income Tax Return Form ITR 1 and the assessment year.
Fill in the details and then click the submit button and choose (Digital Signature Certificate)’ (if available) Click on ‘Submit’.
After submission, acknowledgement detail is displayed.
Click on the link to view or generate a printout of acknowledgement/ITR V form.

Form ITR-2



The ITR-2 Form is an important Income Tax Return form used by Indian citizens as well as Non Residents to file their Tax Returns with the Income Tax Department of India. The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India.
Generally ITR 2 can be used by an individual and Hindu Undivided Family (HUF) who is not eligible to file ITR 1 (Sahaj) and not earning any income from "profit and gains of business or profession" that includes interest, salary, bonus, commission or remuneration. The due date for filing return with the Income Tax Department of India is 31 July every year.


Who is eligible to file ITR 2:

ITR Form 2 is for Individuals and HUF receiving income other than income from “Profits and Gains from Business or Profession”. Thus persons having income from following sources are eligible to file Form ITR 2.

Income from Salary/Pension
Income from House Property(Income Can be from more than one house property)
Income from Capital Gains/loss on sale of investments/property (Both Short Term and Long Term)
Income from Other Sources (including winning from Lottery, bets on Race Horses and other legal means of gambling)
Foreign Assets/Foreign Income
Agricultural Income more than Rs 5000
If you have exempt income exceeds Rs.5,000
Resident not ordinarily resident and a Non-resident


What is the Structure of ITR 2:
ITR-2 is divided into:

Part A: General Information
Part B-TI: Computation of Total Income
Part B-TTI: Computation of tax liability on total income
Details to be filled if the return has been prepared by a Tax Return Preparer
Schedule S: Details of income from salaries
Schedule HP: Details of income from House Property
Schedule CG: Computation of income under Capital gains
Schedule OS: Computation of income under Income from other sources
Schedule CYLA: Statement of income after set off of current year’s losses
Schedule BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years
Schedule CFL: Statement of losses to be carried forward to future years
Schedule VIA: Statement of deductions (from total income) under Chapter VIA
Schedule 80G: Statement of donations entitled for deduction under section 80G
Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of persons to be included in the income of the assesse in Schedules-HP, CG and OS
Schedule SI: Statement of income which is chargeable to tax at special rates
Schedule EI: Details of Exempt Income
Schedule PTI: Pass through income details from business trust or investment fund as per Section 115UA, 115UB
Schedule FSI: Statement of income accruing or arising outside India.
Schedule TR: Details of taxes paid outside India
Schedule FA: Details of Foreign Assets
Schedule 5A: Statement of apportionment of income between spouses governed by Portuguese Civil Code
Schedule AL: Asset and liability at the year-end (applicable in case income exceeds Rs 50 lakhs)

Documents for filing returns:

Aadhar
PAN
Name of the person
Source of Income
Abstract of bank statements
Proof of investments and Form 16 (Salary certificate issued by the employer)
Form 16A / TDS certificate
Challan of tax payment made like advance tax or self-assessment tax
Proof of investments in property
Documents on purchase and sale of investments/assets
Collect the TDS certificate and
Collect home loan certificate

Process:

First, log on to IncomeTaxIndiaeFiling.gov.in And register on the website.
Your Permanent Account Number (PAN) is your user ID.
View your tax credit statement or Form 26AS. The TDS as per your Form 16 must tally with the figures in Form 26AS.
Click on the income tax return forms and choose the financial year.
Open excel utility (the downloaded return preparation software) and fill out the form by entering all details using your Form 16.
Check the tax payable amount by clicking the 'calculate tax' tab.
Pay tax (if applicable) and fill in the challan details. Confirm all the data provided in the worksheet by clicking the 'validate' tab.
Generate an XML file and save it on your desktop.
Go to 'upload return' on the portal's panel and upload the saved XML file.
A pop-up will be displayed asking you to digitally sign the file.
In case you have obtained a digital signature, select 'Yes'. If you have not got digital signature, choose 'No'.
The acknowledgment form, ITR Verification (ITR-V) will be generated which can be downloaded by you.
If digital signature choosen as ‘No’ then take a printout of Form ITR-V
Take a printout of the form ITR-V and sign it in blue ink. Send the form by ordinary or speed post to the Income-Tax Department-CPC.

Form ITR-3



The ITR 3 form has been specifically prescribed for individuals and HUFs having income from business or profession. This form cannot be used by any taxpayer other than individuals or HUFs (like companies, partnership firms, etc.) having income from business or profession.


Eligible Assesses for the ITR-3 Form:

The eligibility criteria of every Income Tax Return form are governed by a set of rules and conditions. The ITR-3 Form is applicable only to those Individuals and Hindu Undivided Families that can be placed under the following categories
·Is a Partner in a firm
·Gains Income through ‘Profits or gains of business or profession’
·Gains Income by means of interest, salary, bonus, commission, remuneration, as a partner
If the partner of a firm only earns income from the firm as a share in the profits and not by any other means such as interest, bonus, salary, remuneration, or commission etc. then such an Individual or Hindu Undivided Family should file Income Tax Returns using only the ITR-3 Form, and not the ITR-2 Form.


Documents for filing returns:

Aadhar
PAN
Name of the person
Source of Income
Details of gain/loss of income
Abstract of bank statements
Proof of investments and Form 16 (Salary certificate issued by the employer)
Form 16A / TDS certificate
Challan of tax payment made like advance tax or self-assessment tax
Proof of investments in property
Documents on purchase and sale of investments/assets
Collect the TDS certificate and
Collect home loan certificate

Process:

First, log on to IncomeTaxIndiaeFiling.gov.in And register on the website.
Your Permanent Account Number (PAN) is your user ID.
View your tax credit statement or Form 26AS. The TDS as per your Form 16 must tally with the figures in Form 26AS.
Click on the income tax return forms and choose the financial year.
Download the ITR form applicable to you.
Open excel utility (the downloaded return preparation software) and fill out the form by entering all details using your Form 16.
Check the tax payable amount by clicking the 'calculate tax' tab.
Pay tax (if applicable) and fill in the challan details. Confirm all the data provided in the worksheet by clicking the 'validate' tab.
Generate an XML file and save it on your desktop.
Go to 'upload return' on the portal's panel and upload the saved XML file.
A pop-up will be displayed asking you to digitally sign the file.
In case you have obtained a digital signature, select 'Yes'. If you have not got digital signature, choose 'No'.
The acknowledgment form, ITR Verification (ITR-V) will be generated which can be downloaded by you.
Take a printout of the form ITR-V and sign it in blue ink.
Send the form by ordinary or speed post to the Income-Tax Department-CPC.

Form ITR-4



The ITR-4 Form is applicable for individuals or HUFs who have income from proprietary business or are carrying on a profession.
If the requirements of audit are applicable, the due date of filing of return is 30th September. Otherwise, usually the due date of filing of return for non-audit cases is 31st July.
In case the presumptive method of taxation is applicable (Section 44AD and Section 44AE of the Income Tax Act), ITR-4S must be filed.
Since ITR-4S is applicable where gross receipts/turnover is less than Rs 1crore; assesses who are carrying out business or profession under presumptive income as per section 44AD & 44AE of the Income Tax Act but have turnover/gross receipts of more than Rs. 1 crore; will have to file ITR-4.


Who is eligible to file using the ITR-4 Form?

Carrying on a business or profession
Eligible for Presumptive Business Income but where Turnover/Gross Receipts exceeds Rs. 1 crore
Return may include Salary/Pension
Earn Income from House Property
Earn Income from Other Sources


What is the structure of the ITR-4 Form?

ITR-4 is divided into:

Part A-GEN: General information and Nature of Business
Part A-BS: Balance Sheet as of March 31, 2015 of the Proprietary Business or Profession
Part A-P & L: Profit and Loss for the Financial Year 2014-15
Part A-OI: Other Information (optional in a case not liable for audit under Section 44AB)
Part A-QD: Quantitative Details (optional in a case not liable for audit under Section 44AB)
Part B: Outline of the total income and tax computation in respect of income chargeable total tax.

Verification

After this there are 35 schedules.

Schedule-S: Computation of income under the head Salaries.
Schedule-HP: Computation of income under the head Income from House Property
Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act
Schedule DOA: Computation of depreciation on other assets under the Income-tax Act
Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act
Schedule DCG: Computation of deemed capital gains on sale of depreciable assets
Schedule ESR: Deduction under section 35 (expenditure on scientific research)
Schedule-CG: Computation of income under the head Capital gains.
Schedule-OS: Computation of income under the head Income from other sources.
Schedule-CYLA: Statement of income after set off of current year’s losses
Schedule BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.
Schedule CFL: Statement of losses to be carried forward to future years.
Schedule- UD: Statement of unabsorbed depreciation.
Schedule- 10A: Computation of deduction under section 10A.
Schedule- 10AA: Computation of deduction under section 10AA.
Schedule- 10B: Computation of deduction under section 10B.
Schedule- 10BA: Computation of deduction under section 10BA.
Schedule 80G: Statement of donations entitled for deduction under section 80G.
Schedule- 80IA: Computation of deduction under section 80IA.
Schedule- 80IB: Computation of deduction under section 80IB.
Schedule- 80IC/ 80-IE: Computation of deduction under section 80IC/ 80-IE.
Schedule VIA: Statement of deductions (from total income) under Chapter VIA.
Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of persons to be included in the income of assesse in Schedules-HP, BP, CG and OS.
Schedule SI: Statement of income which is chargeable to tax at special rates
Schedule-IF: Information regarding partnership firms in which assessee is a partner.
Schedule EI: Statement of Income not included in total income (exempt incomes)
Schedule IT: Statement of payment of advance-tax and tax on self-assessment.
Schedule TDS1: Statement of tax deducted at source on salary.
Schedule TDS2: Statement of tax deducted at source on income other than salary.
Schedule-TCS: Statement of tax collected at source.
Schedule TR: Statement of tax relief claimed under section 90 or section 90A or section 91.
Schedule FA: Statement of Foreign Assets.

Form ITR-5



The ITR-5 form is to be used by only by the following entities for filing income tax returns:


Who is eligible to file ITR-5:

Firms
Limited Liability Partnerships (LLPs)
Body of Individuals (BOIs)
Association of Persons (AOPs)
Co-operative Societies
Artificial Judicial Persons
Local Authorities


What is the structure of the ITR-5 Form?

The Form has been divided into two parts and several schedules:
Part A: General information
Part B: Outline of the total income and tax computation with respect to income chargeable to tax.

There are 30 schedules details of which are as under:
Schedule-HP: Computation of income under the head Income from House Property
Schedule-BP: Computation of income under the head "profit and gains from business or profession"
Schedule-DPM: Computation of depreciation on plant and machinery under the Income Tax Act
Schedule DOA: Computation of depreciation on other assets under the Income Tax Act
Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act
Schedule DCG: Computation of deemed capital gains on sale of depreciable assets
Schedule ESR: Deduction under section 35 (expenditure on scientific research)
Schedule-CG: Computation of income under the head Capital gains.
Schedule-OS: Computation of income under the head Income from other sources.
Schedule-CYLA: Statement of income after set off of current year’s losses
Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.
Schedule- CFL: Statement of losses to be carried forward to future years.
Schedule –UD: Unabsorbed Depreciation
Schedule- 10A: Computation of deduction under section 10A
Schedule- 10AA: Computation of deduction under section 10AA
Schedule- 80G: Details of donation entitled for deduction under section 80G
Schedule- 80IA: Computation of deduction under section 80IA
Schedule- 80IB: Computation of deduction under section 80IB
Schedule- 80IC/ 80-IE: Computation of deduction under section 80IC/ 80-IE.
Schedule-VIA: Statement of deductions (from total income) under Chapter VIA.
Schedule –AMT: Computation of Alternate Minimum Tax payable under section 115JC
Schedule AMTC: Computation of tax credit under section 115JD
Schedule-SI: Statement of income which is chargeable to tax at special rates
Schedule-EI: Statement of Income not included in total income (exempt incomes)
Schedule-IT: Statement of payment of advance-tax and tax on self-assessment.
Schedule-TDS: Statement of tax deducted at source on income other than salary.
Schedule-TCS: Statement of tax collected at source
Schedule FSI: Details of income accruing or arising outside India
Schedule TR: Details of Taxes paid outside India
Schedule FA: Details of Foreign Assets

Form ITR-6



The ITR-6 form is to be used only by companies except those companies or organisations that claim tax exemption as per Section 11. Those organisations that claim tax exemptions as per Section 11 are organisations wherein the income received is accumulated from the property used for the purpose of religion or charity. This particular income tax return form can only be filed online.


Who is eligible to file the ITR 6 Form?

Companies who do not claim exemptions according to Section 11 should file ITR 6 form. They can file this form via E-file Income-tax Return. Conversely, companies that claim exemptions according to Section 11 and who gain income from property utilised for charitable or religious purposes are not eligible to file this Income Tax Return form.


Procedure to File the ITR 6 Form

To file the ITR 6 Form you can refer the following order-

Page 1 consists of Part A which is General.
34 Schedules
Part B-Total Income and Part B-Total Taxable Liability
Verification


Step-By-Step Breakdown To E-File You Income Tax Return

Register Yourself

To e-file your ITR 6 Form you need to register online on the Income Tax Department’s tax filing site. You need to provide details like your PAN card details, date of birth, etc. and choose a password. Your PAN will be your user ID.

Choose How You Want to E-file

You can download this form from the website, save it to your desktop, fill it and upload it to the site. Or you can fill the details in the form online.

Select the Form Type

Since you are filing the ITR 6 Form, click on the same.

Keep the Documents Ready

Keep documents like PAN, Form 16, TDS certificates, interest statements, details of investment, insurance and home loans. If you earn more than Rs 50 Lakhs, you must fill an additional form of Assets and Liabilities. In this form, you have disclosed the value of your assets and liabilities.

Fill and Upload the Form

You can download the form to your desktop, fill it and upload it. For this click on ‘Generate XML then go online and click ‘Upload XML’.

Verify ITR-V

When you submit the ITR 6 form an acknowledged number is generated. Preserve this number if you have submitted the form using a digital signature. Otherwise, if you have submitted the form without a digital signature, an ITR-V is generated which is sent to your registered email ID. You need to verify the ITR-V to complete the forming process. You can do the same electronically. You can also mail the signed ITR-V to the Bangalore processing centre in within 120 days of filing the return.

Form ITR-7



The ITR-7 income tax form is to be filed by individuals or companies that are required to submit their returns under the following sections:
Section 139(4A) - Under this section, returns can be filed by those individuals who receive income from any property that is held for the purpose of charity or religion in the form of a trust or legal obligation
Section 139(4B) - Under this section, returns are to be filed by political parties provided their total income earned is above the non-taxable limit
Section 139(4C) - Under this section


Returns are to filed by the following entities:

Any institution or association mentioned under Section 10(23A)
Any association involved with scientific research
Any institution mentioned in Section 10(23B)
Any news agency
Any fund, medical institution or educational institution
Section 139(4D) - Under this section, returns are to be filed by entities such as colleges, universities or any other such institution wherein income returns or loss are not required to be provided in accordance with other provisions outlined in this section
Sec.139(4E) – Under this Section, returns are to be filed by Business Trust.
Sec.139(4F) – Under this Section, returns are to be filed by Investment Fund.

Income Tax Notice



Notices Issued Under the Income Tax Act
You are surprised to receive an intimation/ notice from the Income Tax Department even after having successfully filed your income tax return within the due date. You are not sure about what it is and how to respond to it. Don’t worry, we will break it down for you to help you understand your notices in detail.
First and foremost, it is important that you understand the difference between an intimation and a notice. There is a very thin line of difference between the two. Intimation is to highlight the outcome of the processing of your return or conclusion of assessment, and you may not be required to act upon it (although there are a few exceptions to it). However, when you receive a notice, it requires you to act on it


1. Intimation Under Section 143(1)

After having filed your return, it is electronically processed by the Central Processing Centre(CPC). The income is computed after making the following adjustments to the total income in the return:
      any arithmetical error in the return;
      an incorrect claim (provided the incorrect claim is apparent from the information filed);
      disallowance of incorrectly claimed loss or expenditure;
      any income which has not been included in the return
Upon successful processing of the return an intimation under section 143(1) is issued by the CPC under any of the three instances:
      there is tax liability to be paid;
      a refund has been determined;
      there is no refund or demand, but there is an increase or reduction in the amount of loss
In case there is a tax demand, then the intimation must be issued within one year from the end of the year in which return has been filed. For example, if you have filed your return for Assessment Year (AY), then an intimation can be issued anytime on or before Due Date
Processing of return under this section has been made mandatory even if a scrutiny notice is issued from the AY.

2. Notice Under Section 143(2)

The purpose of this notice is to notify the assesse that the return filed has been picked for a scrutiny. It is pertinent to note that the section under which it will be scrutinized is different from the one in which the notice has been issued. Via a detailed scrutiny, the assessing officer intends to be assured that you have not done any of the following:
      understated your income;
      claimed excessive loss; or
      paid lesser taxes
Through this notice, the taxpayer is required to respond to the questionnaire issued along with the documents required by the income tax department. The assessing officer is supposed to service this notice within 6 months after completion of the AY to which it pertains.


3. Notice Under Section 148

If the assessing officer has reasons to believe that you have not disclosed your income correctly and therefore, you have paid lower taxes or where you have not filed your return at all in a case where you should have ideally filed it as per law, this is termed as income escaping assessment. Under these circumstances the assessing officer is entitled to assess or reassess your income, as the case maybe.

Prior to making such assessment or reassessment, the assessing officer should serve a notice to the assesse asking him to furnish his return of income. The notice issued for this purpose is issued under the provisions of section 148. The various timelines to be adhered to for issuance of notice under section 148 is as follows:

Upto four years from the end of the relevant AY:

Notice cannot be issued by any officer below the rank of Assistant Commissioner or Deputy Commissioner. An assessing officer can only issue a notice under section 148 on the direction of the Joint Commissioner after recording the reasons to do so.

For AY 2017 -18 notice under section 148 can be issued till 31st March 2022

Beyond four years but upto six years from the end of the relevant AY:

Notice can only be issued by the Chief Commissioner or Commissioner is satisfied that income has escaped assessment. The amount of income which has escaped assessment should be more than Rs. 1,00,000.

For AY 2017 -18 notice under section 148 can be issued till 31st March 2024

Beyond four years but upto sixteen years from the end of the relevant AY:

Notice under section 148 can be issued if income in relation to any asset (including financial interest in any entity) located outside India, is chargeable to tax in India but has escaped assessment.

For AY ending 2017 -18 notice under section 148 can be issued till 31st March 2034.

4. Notice Under Section 245

If the assessing officer has reasons to believe, that there is tax demand which has not been paid for the previous years and he wants to set off the current year refund against that demand, notice under section 245 is issued. However, the adjustment of demand and refund could be done only after you have been provided with a proper notice and an opportunity for being heard.

The timeline to respond to the notice is within 30 days from the day of receipt of the notice. If you do not respond within the aforesaid timeline, the assessing officer can consider the non response as a consent and proceed with the adjustment. Therefore, it is advisable to respond to the notice at the earliest.

5. Notice Under Section 142(1)

A notice under section 142(1) can be issued under two circumstances:
If you have filed your return, but the assessing officer requires additional information and documents; or
If you have not filed your return, but the assessing officer wants you to.
The information is called for, to enable the officer to make a fair assessment. Being non-responsive to this notice has consequences,
a penalty of Rs 10,000 can be levied for each such failure
prosecution which may extend up to 1 year
both of the above

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