Itr processed income tax notice: What it is

What it is: This is the most common notice you might receive after filing your Income Tax Return ( ITR ). It's an automated intimation issued after your return has been processed by the Central Processing Centre (CPC). It's essentially a summary assessment. The CPC unit of the Income tax department takes up the ITR for processing and sends an intimation notice under Section 143 (1) to the registered email address confirming that the ITR is processed . This notice will specify the tax amount payable or the refund due as per the income tax department. An Income Tax notice is an official notification by the Income Tax Department issued to the taxpayer for compliance with the provisions of the Income Tax Act, 1961. The Income Tax Department issues a notice to seek information related to discrepancies in the ITR filed, like mismatches in ITR and Form 26AS and AIS, arithmetic inaccuracies, high-value transactions, refund adjustments, etc or demand action from the taxpayer Annual Information Statement (AIS): The Annual Information Statement (AIS) is an important initiative by the Income Tax Department, designed to give taxpayers a comprehensive summary of their financial activities during a given financial year.