Key Points
The Income Tax Department will give you an intimation under section 143 (1) of the Income Tax Act once your ITR documentation has been processed, letting you know if you owe any additional tax or if you are due for a refund...
It is critical that a person read and understand this notice of income tax..
This is because this letter informs you whether the income tax calculation you provided in your ITR matches the information held by the tax department...
Assessment under section 143(1) can be made within a period of 9 months from the end of the financial year in which the return of income is filed...
Scope of assessment under section 143(1) According to the income tax department website, Assessment under section 143(1) is like preliminary checking of the return of income..
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How to file ITR-1 for FY 2022-23 with salary, income from house property and other sources
13, Jul, 23The income tax return filing season is upon us. Most salaried individuals are eligible to file their tax returns using ITR-1 form. This tax return form is also known as 'Sahaj'. However, not many people know the steps to file ITR-1 on the income tax e-filing portal. Here is a step by step guide of filing ITR-1 on the income tax e-filing portal.