Why was I issued a Tax Notice 142(1)?

Why was I issued a Tax Notice 142(1)?

Tax Notice 142(1) is an Inquiry before Assessment. You may have received a Notice 142(1) for the following reasons:

  1. You did not file your returns before the end of the Assessment Year.
  1. You have filed your returns, but the Assessing officer is asking to peruse certain documents/proofs and books of account, e.g. sales records, proof of deduction, etc.
  1. The Assessing officer requires you to furnish certain information in writing which is not a part of the books of accounts, e.g. Assets and Liabilities statement.

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