What can you do after received the Income Tax Notice U/S 143(1) of Income Tax Act ? With Automated Income Tax Form 16 Part A&B and Part B in new Format for F.Y. 2018-19

One of my companions called me in a stressing voice disclosing to me he had gotten an email from Income charge office with subject "Hint U/S 143(1) for PAN ABCxxxxx4A AY:2019-20". Similarly, as with a large portion of us, any correspondence from taxmen makes us stressed and it was very little extraordinary for my companion

Well, stress not! Insinuation U/S 143(1) is sent by Income Tax division because of the Tax returned recorded by you. As the subject proposes "Insinuation" – the correspondence implies the citizen about, any duty and intrigue payable or on the off chance that you are qualified for discounts.

This is finished by the PC with no human mediation and checks for the following two things:

1.         Any numerical blunder or

2.         any mistaken assessment guarantee

What you have to do is open the appended compress document. The compress record contains a PDF document which is a secret phrase secured. To open this PDF following is your secret phrase.

The secret key is your PAN Number in a lower case pursued by your date of birth in DDMMYYYY design. So if your PAN Card Number is ABCDE1234A and date of birth is January 1, 1985, at that point, your secret phrase would be abcde1234a01011985. The date of birth ought to be one which is referenced on your PAN Card.

Simply look down and toward the finish of all counts, you would see two headings.

1.         Net Amount Refundable

2.         Net Amount Payable

In the event that there is '0' before both as in the image above, it implies that your assessment form recording was immaculate – you neither need to settle any increasingly regulatory obligation for the year nor you would get any expense discounts.

On the off chance that some sum is referenced for "Net Amount Refundable" at that point its uplifting news and you would before long get that sum in your financial balance. Furthermore, in the event that "Net Amount Payable" has some sum referenced, at that point, you have to make good on that much government expense to Income charge division.

Download and prepare One by One Income Tax Form 16 Part A&B and Part B for the Financial Year 2018-19 [ This most popular Excel Based Software prepare both of Form 16 Part A&B and Part B in the new format for f.Y. 2018-19