CBDT to Intimate about Proposed Income/Loss Adjustments Prior to Issuing Intimation u/s 143(1)

The Central Board of Direct Taxes (CBDT) has decided to issue an intimation of the proposed adjustment to draw the attention of the taxpayer to difference identified while processing ITRs u/s 143(1)(a)(vi). If taxpayer failed to submit respond within one month of receiving such communication, then a formal intimation u/s 143(1)(a)(vi) would be issued.