1. Notice u/s 143(1): Intimation of the return When a person files the Income tax return, it is electronically processed by the Income tax department. Therefore, the Income Tax Department sends the intimation to the Assessees in three ways: tax liability payable refund to be determined no...
then you do not need to respond. However, if there is a tax demand, the taxpayer is expected to respond within 30 days from the date of issue of intimation notice either agreeing/disagreeing with the adjustment proposed.
…The important point is that the path to zero is now enshrined in law, which is a big deal that workers and employers won’t fail to notice. The economic success of the eight states that don’t tax personal income has created a race in GOP-run states to join them, or at least to...
IMPACT OF A NEGATIVE INCOME TAX ON AGGREGATE DEMAND and SUPPLYFirst page of articledoi:10.1111/j.1465-7295.1973.tb00966.xRALPH D. HUSBYJohn Wiley & Sons, LtdEconomic Inquiry
If you wish to contest the tax demand by paper you need to write to the tax office whose address appears at the top of your tax notice. The tax office have six months in which to consider your complaint. If they have not responded to your claim within this period you are permitted to...
What to do if I have received a notice? What is the status of 2021-22 FY ITR filing? When can I start filing my Income tax return? What are the ITR filing fees? How much time does it take to file my IT return? How much time will it take to get acknowledgement?
GST Show Cause Notice Challenge Dismissed, Petitioner Granted Extended Appeal Window Until July 10, 2025 May 19, 2025 Case Laws GST Taxpayer Wins Relief: One-Day Delay Condoned for Income Tax Return Filing Under Section 119(2)(b) ...
Understanding Form 16: Tax on income Understanding Form 12BA How to agree to income tax notice under 143(1)(a) due to variance in income and file revised Self Assessment Tax, Pay Tax using Challan 280, Updating ITR How to file Revised Income Tax Return ITR ...
Royalty rates vary depending on a number of factors including exclusivity, market demand, and the existence of available alternatives to the product in question. The rate is often a fixed or variable percentage of gross sales and may be subject to a minimum royalty amount. With a royalty agreem...
Once the ITR is processed, the department will send you an intimation U/s 143(1) on your email ID. If the department seeks more information or your ITR is picked for a tax audit (as per the situation demands), then you will receive a notice from the tax department. The tax portal ...