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Assessment

Assessment under Income Tax Act 1961 means a written order of computation of total income by the assessing officer. The assessment of total income is done under different circumstances. One is when a person files return of income and the a processing by computer is done to assess the total income , tax payable or refundable. Then there is assessment after scrutiny under section 143(3). Similarly when search and seizure is conducted under section 132 of the Income Tax Act, A.O passess order fo assessment u/s 153A or 153C as teh case may be . Assessment also include reassessment.

Even Non-Agriculture Land Sold Under RFCTLARR Act is Fully Tax-Free!

RFCTLARR or The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement” Act 2013...

AO’s Jurisdiction Challenge: When Why & How!

Income Tax Act (Act after this ) provides powers to authorities (read assessing officer) to start and...

Is Notice u/s 148 Served on Old Address When New Address Available in Return...

It often happens! The AO initiates reassessment proceeding under section 148 of the Income Tax Act ,say...

Sec.54 or 54F: Whether Expenditure on Property after Purchasing it, Qualify for Deduction ???

Section 54 or the Section 54F of the Income Tax Act provides deduction while computing long term...

Why Notice u/s 148 on Stricken Off Company or Its Directors May Legally Not...

The government has taken many steps to fight against the money laundering schemes in the last five...
Sahaj (ITR-1)

For AY 2019-20 -Sahaj (ITR-1) and SUGAM (ITR-4) Not Available to Many

CBDT has notified some amendments to Rule 12 of the Income Tax Rule and also new tax return forms (ITR-1 to ITR-7) for the...
TDS us 194-IA

Joint Owners Get Exemption u/s 194-IA Upto Rs 50 Lakhs Each-3 Separate ITAT Confirms...

As you already know , if you are selling immovable property , the buyer needs to deduct tax at source and deposit the same...

New Rules for Applying & Issue of Lower or Nil Deduction Certificate Simplified !

Income Tax Act provides a number of provisions -from section 192 to section 195-under which the payer of a sum on the ground of rent...

Attach a Selfie to Show You are Active -And Not a Shell Companies...

For quite long time , the menace of shell companies and their disappearance from the registered address is an issue. So now Ministry of...

How to Apply for Startup Recognition Under New Scheme 2019?

The government has changed the scheme for recognition of startup and various other tax benefits associated with startups vide a new notification dated 19/02/2019. Now...
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