How to deal with a Notice u/s 143(1)(a)(iii)?
Created by: Team Quicko
Modified on: Fri, 1 Apr, 2022 at 5:58 PM
Notice u/s 143(1)(a)(iii) is issued when the loss has been incorrectly claimed in the ITR filed. It is sent to the registered email of the assessee. The notice mentions income head, amount reported in ITR, amount as per computation, amount of variance and description of error. The assessee must submit a response to this notice within 30 days from the date of issue.
As per the Income Tax Act, the assessee cannot carry forward the loss if he files his income tax return after the prescribed due date. When the return is filed after the due date u/s 139(1) and yet the loss has been claimed, notice u/s 143(1)(a)(iii) is issued to disallow such loss.
To know more, read our article here.
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