Tag: Notice Under Section 142(1)

Received a Notice Under Section 142(1)? Here’s What It Means and What You Should Do Receiving an email or notification from the Income Tax Department can be stressful, especially when it mentions Section 142(1) of the Income-tax Act. Many taxpayers immediately assume they are under investigation or have committed a serious tax violation. In reality, receiving a notice under Section 142(1) does not automatically mean you’ve done anything wrong. A notice under Section 142(1) is generally issued by the Assessing Officer (AO) to obtain additional information, documents, books of accounts, or explanations required to complete an income tax assessment. In …