In a layman’s term any communication received from the Income Tax Department is commonly referred to as “Notice”. It is a word that sometimes creates nervousness and fear among the taxpayers. With the government focusing on increasing compliance and zero in on the tax evaders, it is highly likely that salaried classes will be receiving notices, intimation under various section of the Income Tax Act, 1961.
Mentioned below are various notices, intimations that are received by salaried individuals:
INTIMATION RECEIVED UNDER SEC. 143(1) -
SCRUTINY NOTICE UNDER SEC. 143(2) -
INQUIRY BEFORE ASSESSMENT UNDER SEC. 142(1) -
BEST JUDJEMENT ASSESSMENT UNDER SEC. 144 -
NOTICE UNDER SEC. 147 READ WITH SEC. 148 -
There are also search, seizure and survey provisions that grants power to the Assessing officer to collect information, seize documents and other valuables, if it is proved that doing so is in the interest of the revenue.