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Tax, Mutual Fund Expert - Answered on Jul 26, 2023

Asked on - Jul 25, 2023Hindi

Sir, recently I have filed ITR 1. At the time of filing there is a certain amount of balance towards income tax due and duly deposited through online. After few days I have received 143 (1) and advising to deposit the same amount once again. Please advise.
Ans: Dear Mr. Tadikamalla,

I understand your concern about receiving a notice under Section 143(1) even after paying your due taxes. This notice is a standard procedure from the Income Tax Department after your ITR has been processed. It's not necessarily a cause for concern.

The notice under Section 143(1) is an intimation which is sent to inform you about any discrepancies between the income details declared by you and the data available with the Income Tax Department. It could also be due to a miscalculation of tax or an incorrect claim of deductions.

If you have already paid your tax dues and are still receiving this notice, it could be due to a few reasons:

1. The payment you made has not been credited or updated in the system yet.
2. There might be a discrepancy or error in the tax calculation.
3. The Income Tax Department might not have accounted for some deductions or exemptions you claimed.

Here's what you can do:

1. Check the tax credit statement (Form 26AS) to confirm if your tax payment is reflecting there.
2. Cross-verify the computation of income and tax in the intimation received with your own calculations.
3. If there is a mismatch or error, you can file a rectification request online under the 'e-file' option on the Income Tax Department's website.

If everything is in order and you still receive the notice, I would recommend consulting with a tax advisor or chartered accountant who can help you understand the notice in detail and guide you on the next steps.

I hope this helps.

Best Regards
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