Filing your Income Tax Return (ITR) is not just another mundane task to cross off your list. It could also be a way to reclaim any excess taxes paid. With the deadline for the financial year 2023-24 having passed on July 31, 2024, many taxpayers are hoping for a smooth process.

However, what follows is a thorough review by the tax department to ensure everything adds up.

If discrepancies are found or additional taxes are owed, a notice may be issued, prompting a closer look at your filings.

Here’s a rundown of the important kind of notices/intimation that you could get:

Intimation under Section 143(1) of the Income Tax Act

This intimation informs you whether the tax department’s calculation of your income tax matches what you reported in your ITR. This is a preliminary assessment, known as a summary assessment, which does not involve a detailed review.

Essentially, this means your return has been processed at this stage.

The intimation involves a preliminary verification of your tax calculations and payments to determine if you owe additional tax or are eligible for a refund.

There are three possible types of intimations under this section:

Intimation with No Demand or Refund: This notice is issued if the department has accepted your return as filed without making any adjustments.

Intimation with Demand: This notice is sent if the department has made adjustments and determined that you owe additional tax.

Intimation with Refund: This notice is issued if you have paid more tax than necessary through TDS, TCS, advance tax, or self-assessment tax, compared to what is determined in your return.