IT INTIMATION U/S 143(1).

It is very positive step that income tax department to assess
all income tax returns filed online quickly. After successful
assessment of tax returns by income tax department,
issues Intimation u/s 143(1). Normally these intimations will
be received through email to the Email address provided in
filing income tax returns online . This Intimation u/s 143(1)
should be treated as completion of assessment income tax
returns for the year unless there is tax due from the tax
payer.
We treat this as Intimation of completion of assessment of
income tax returns, Intimation of Income tax refund in case
refund is due from income tax, India. If net taxable income
is more than total tax paid, this Intimation u/s 143(1) will be
treated as demand notice for payment of income tax due to
income tax department.
We have to interpret the Intimation u/s 143(1) as follows:-
1. If “NET AMOUNT REFUNDABLE” mentioned in
Intimation u/s 143(1) letter more than Rs 100, there is
a tax refund due from income tax department to tax
payer. Refunds amounting less than Rs 100 won’t be
refunded. You can check refund status online https://
tin.tin.nsdl.com/oltas/refundstatuslogin.html
2. If “NET AMOUNT DEMAND” mentioned in Intimation
u/s 143(1) letter more than Rs 100, there is tax
amount due from tax payer. This will be treated as
demand notice for the payment of income tax due.
This Intimation letter encloses challan form to pay
income tax if the due is more than Rs 100.
If “NET AMOUNT REFUNDABLE /NET AMOUNT DEMAND” is
less than Rs 100, you can treat this Intimation u/s 143(1) as
completion of income tax returns assessment under Income
Tax Act. It can be useful for the proof of Income/
Completion of income tax returns assessment.