Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)-reg.

Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)-reg. https://www.taxtmi.com/circulars?id=56612 Section 143(1)(a)(vi) permits adjustment of returned income where third party information (Form 26AS, Form 16A, Form 16) appears omitted. An initial awareness email/SMS will seek an electronic response via the e filing dashboard; failure to respond or unsatisfactory response will lead to a formal intimation and, if still unanswered within the statutory period, automatic adjustment. Responses must be: filing a revised return if fully agreed; filing a revised return plus a reconciliation statement if partially agreed; or filing a reconciliation statement if disputed. CPC ITR will then process returns under section 143(1) read with the specified provision and CBDT instructions. en-us Wed, 10 Jan 2018 00:00:00 +0530 Wed, 10 Jan 2018 18:56:00 +0530 TaxTMI RSS Generator Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)-reg. https://www.taxtmi.com/circulars?id=56612 Section 143(1)(a)(vi) permits adjustment of returned income where third party information (Form 26AS, Form 16A, Form 16) appears omitted. An initial awareness email/SMS will seek an electronic response via the e filing dashboard; failure to respond or unsatisfactory response will lead to a formal intimation and, if still unanswered within the statutory period, automatic adjustment. Responses must be: filing a revised return if fully agreed; filing a revised return plus a reconciliation statement if partially agreed; or filing a reconciliation statement if disputed. CPC ITR will then process returns under section 143(1) read with the specified provision and CBDT instructions. Circulars Income Tax Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=56612