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CA Sanjiv Kumar
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CA Sanjiv KumarEnlightened
Asked: September 23, 20212021-09-23T21:23:24+05:30 2021-09-23T21:23:24+05:30In: Accountancy

What is assessment under section 143(1)?

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What is assessment under section 143(1)?
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    1. Advocate Dr Amit Dua Explainer
      2022-02-19T11:19:19+05:30Added an answer on February 19, 2022 at 11:19 am

      All the income tax returns filed by the taxpayers are first processed online at the Centralised Processing Centre (CPC). After processing the return, the income tax department then issues intimation under section 143(1) to the taxpayers informing them about the results. If you have received an incomRead more

      All the income tax returns filed by the taxpayers are first processed online at the Centralised Processing Centre (CPC). After processing the return, the income tax department then issues intimation under section 143(1) to the taxpayers informing them about the results.

      If you have received an income tax notice, please do not worry, That May be just Information of ITR Process.

      But Also,

      An income tax return can be either filed voluntarily under Section 139 or on demand by the income tax department under Section 142(1). It is necessary to understand what happens after the taxpayer has filed the return of income. Income tax department carries out a preliminary assessment of all the returns filed and informs taxpayers of the result of such preliminary assessment. This assessment primarily includes arithmetical errors, internal inconsistencies, tax calculation and verification of tax payment. Such communication to the taxpayer post the preliminary assessment is called intimation under Section 143(1). The preliminary assessment is wholly computerised and does not have any human intervention and is delegated to Centralised Processing Center (CPC).

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