Notice u/s 143(2) for Income tax scrutiny assessment | Income tax notice reply us 143(2)

Notice u/s 143(2) for Income tax scrutiny assessment | Income tax notice reply us 143(2)
How to Respond to an Income Tax Scrutiny Notice U/S 143(2) | Step-by-Step Guide
Description:
Have you received a notice under Section 143(2) for an Income Tax Scrutiny Assessment? Don’t worry, we’ve got you covered! In this video, we break down everything you need to know about this notice and how to respond effectively.
📋 What We Cover:
Understanding Section 143(2): What is a scrutiny assessment notice and why you might receive one.
Types of Notices: Different types of scrutiny assessments and what they mean.
Step-by-Step Response Guide: How to draft and submit your reply, including necessary documents and information.
Common Mistakes to Avoid: Tips to ensure your response is accurate and complete.
Expert Advice: Insights from tax professionals to help you navigate the process smoothly.
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When the department select your Income tax return for detailed scrutiny assessment u/s 143(3), they issue a notice under Section 143(2). The scrutiny assessment is carried out by department to confirm the correctness and genuineness of various deductions, claims etc. made by the taxpayer in the ITR.
Common reasons for receiving Notice u/s 143(2) such as Errors related to TDS, under- reporting of income, over-reporting of losses, mismatches in income figures, incorrect claims for deductions or exemptions, High value transactions, defects in ITR or sometimes general issues on which clarification is required. It serves as a preliminary step before the final assessment under Section 143(3) is conducted.

[@PTL282]

Sir, I am a salaried person and continued itr 1. But my father gifted me some listed equity share through depositary( off market/₹11,000) . I do not sell till date. Then my question is which itr I have to submit?