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Every return filed is checked for arithmetical accuracy and whether there is incorrect claim of tds and advance tax. This is caled Summary Assessment

(1)This section is applicable if Return filed under

     (a) Section 139

     (b) In response to a notice from A.O. u/s 142 (1)

 

(2) On receipt of Return A.O. checks

     (a) Arithmetical Accuracy

     (b) Whether there is Incorrect claim 

           [TDS wrongly claimed etc.]

     (c) Tax and Interest properly computed

     (d) A.O. makes adjustment for TDS / Advance tax/ Relief/ Self Assessment tax paid

 

(3) After doing so, above, he sends an Intimation letter to Assessee mentioning

     (a) Tax payable

                OR

     (b) Refund due

No Intimation required to be send in case

  • No tax Payable/Refundable
  • Notice for Scrutiny Assessment u/s 143 (2) has been issued

     .

(5)  Last date for Sending Intimation is One Year from end of Financial Year in which Return filed .

 

(6) If I.T.R. filed Electronically this job of A.O. is done by software at C.P.C. Bangalore [Centralized Processing Cell, Bengaluru]

 

Q1

Return for F.Y. 2013- 14 [AY 2014 – 15] has been field on 15 March 2016. What is last date to send Intimation u/s 143(1)

View Answer
  1. Income Tax
  2. Return of Income
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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