Things that I should see in Income tax return before replying to notice under section 143 (1)

Verify name, address, and PAN details provided in the return

Ensure that all bank account details are accurate and up to date

Check all sources of income mentioned in the return

Verify the accuracy of the income figures reported

Ensure that all deductions and exemptions claimed are valid and supported by relevant documents

Review any capital gains or losses reported and ensure they are accurately calculated

Confirm that any rental income or income from investments is accurately reported

Verify that any income from freelance work or self-employment is accurately accounted for

Double-check that any income from foreign sources is properly disclosed and taxed accordingly

Cross-reference any income reported on Form 1099 or other tax documents with the figures on the return

Verify that all TDS details are correctly mentioned in the return

Check if advance tax payments, self-assessment tax, and any other tax payments made are accurately reflected in the return

Ensure that any taxes paid through challans are properly documented and accounted for in the return

Review any tax credits claimed for foreign tax paid, if applicable

Confirm that any tax deducted at source (TDS) certificates have been accounted for in the return

Check for any penalties or interest paid and ensure they are accurately reported in the return

Ensure that the return has been verified either electronically or through a physical signature

Check if the ITR-V has been filed within the specified time frame

Confirm that all the details provided in the return match the information in your supporting documents

Review any additional schedules or forms that were filled out and attached to the return

Double-check that all income sources and deductions have been accurately reported

Verify that the tax payments made during the year match the tax liability calculated in the return

Ensure that all necessary disclosures have been made, such as foreign assets or income

Verify that all necessary supporting documents, such as Form 16, Form 26AS, and investment proofs, are attached with the return

Ensure that all documents are legible and clearly visible

Check that all supporting documents are in the correct format as required by the income tax department

Confirm that all supporting documents are signed and dated where necessary

Review any additional supporting documents that may be relevant to your income tax return, such as rental income statements or business receipts

Double-check that any deductions claimed are supported by the appropriate documentation, such as medical receipts or charity donation receipts

Check for common mistakes such as incorrect calculations, mismatch in income figures, or missing details

Rectify any errors or discrepancies before responding to the notice under section 143(1)

By following this checklist, you can ensure that your income tax return is accurate and complete before replying to any notice under section 143(1).

Review all deductions claimed to ensure they are eligible and supported by proper documentation

Check for any discrepancies in TDS amounts deducted and reported in your return

Verify that all income sources, including salary, investments, and other sources, are accurately reported

Double-check that all relevant schedules and forms have been filled out correctly

Ensure that your PAN, bank account details, and contact information are up to date and accurate