sec 143(2)


received a notice from income tax dept u/s 143(2) on 05/08/12 dated 31/07/12 asking me to visit their office to clarify on returns submitted by me on 4th july  2011 for assessment year 11-12. 

was reading on some sites and want to understand if this is a valid notice considering notice date and how imp is it to attend. i am also not sure on the details they wish to clarify.

 
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Senior Financial Advisor

Yes ,you should attend the office in response to the notice.The details required by the dept will be known to you,only when u attend them.You can't avoid  attending the matter.This can be attended through your representative too.

 
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Thanks, But is this a valid notice as per duration clause.

 
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dear,

Sec. 143 (2) (1) of IT act :- no notice under this clause shall be served on the assassee on or aftervthe 1st day of june 2003. (inserted by finance act, 2003 w.e.f.- 1-06-2003)

Sec. 143 (2) (2) of IT act :- That no notice under clause (2) shall be served on the aassessee after the axpery of twelve month from the end of the month in which the return furnished.

thanks

 
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Mr.Maneet,

As per the latest rule,the notice issued is legal and valid. Notice can be issued within 6 months of completion of  next financial year / A.Y ( within 6 months from 31-03-2012 , i.e by  31-09-2012)) Since you have filed your return on 04/07/2011 for A.Y 2011-2012, next A.Y  ends on 31/03/2012 and received notice dated 31/07/2012 on 05/08/2012 (much before 31/09/2012).So it is a valid one.

 As said by Mr. Vivek Naik,  You will be informed about the details they require when you first attend their office.

I have my personal experience.

With regards,


Total likes : 1 times

 
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Thanks Everyone for responding, have a date on 22nd ....Will update meeting detials....

 
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ADVOCATE

The Notice cannot be served after after the expiry of six months from the end of the financial year in which the return is furnished. You have stated that the return had been filed in July 2011; wherefore the notice should have been served before 30-9-2012. As you have stated that the notice ahs been served in August 2012, the notice is valid.

 
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Hi, Visited them.....Have asked to submit all details including Balance Sheet. Am salaried employee....What i understand from CA  friends that my intraday/fno transactions must have crossed some amount. I have suffered a loss of around 1.5L which i have not disclosed being loss and that could be the reason for calling for scrutiny.  Now i would want to regularize this and also seek support in identifying CA who could take up in regularizing this and assist with scrutiny too. Since my papers are clear and all transcation details are available online. Not much of a challenge getting details.

 

Please suggest and advise way forward. What would be the approxmate charges of CA. Where will i get a CA.

Thanks again in advance to everyone who all has responded and supported.

 
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ADVOCATE

Your query is: Now i would want to regularize this and also seek support in identifying CA who could take up in regularizing this and assist with scrutiny too. Since my papers are clear and all transcation details are available online. Not much of a challenge getting details.Please suggest and advise way forward. What would be the approxmate charges of CA. Where will i get a CA.

Reply:  Such queries, not involving any question of law, are outside the scope of this forum. You may consult some local CAs.

 
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Hi all, 

I am salaried person I have received income tax notice 143(2) on 1st Oct 2011 for assessment year 2010-11.

I visited vashi branch, however they told thay will that since you reside at Kalyan we will transfer case in Kalyan city.

Today I have spoken to AO office and he has given me notice 143 (1) and told me to bring some documents for assessment.

My quesion is since 143 (2) was received after 30th Sep 2011 so it not valid, what should i do now ??

Should I coperate with AO or give him letter of time barring. 

 
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