Important facts to keep in mind: Section 143(1) is a simple communication issued after processing of ITR is completed. Common triggers include TDS mismatches, mistakes in deductions, or missed income.

After you file your Income Tax Return (ITR), the Income Tax Department runs a preliminary check to verify your submission. Based on this review, it sends you an automated notice under Section 143 ...

The Bombay High Court stated that the assessee cannot be penalised under Section 271(1) (c) of income tax act for merely ...

ITAT Ahmedabad allows Section 11 exemption and quashes late filing fee for Shiksha Foundation, citing timely audit and ...

Delhi ITAT rules against Section 271(1)(b) penalty for non-compliance when the assessment is ultimately completed under Section 143(3) without ...

The Income Tax Appellate Tribunal Chennai stated that transferor not liable under Section 56(2) Of Income Tax Act for ...

Tax experts say revising your ITR is allowed, but frequent or significant changes may raise red flags with the department's ...

Foreign tax credit is a key relief for Indian taxpayers with foreign income, but ambiguities in domestic laws and DTAAs ...

Finance Minister Nirmala Sitharaman is scheduled to meet senior officers from the income tax, goods and services tax (GST), ...

Filing and verifying your ITR on time helps ensure faster processing and quicker tax refunds, usually within 3 weeks if excess tax has been paid.

This year, House Republicans led passage of a bill to reaffirm the rights of South Carolinians to protect their private ...