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.

How to Get Reward upto Rs 5 Crore from Income Tax Department ?

So , you know some income tax evaders or some persons having Benami properties or persons having assets and bank accounts outside India and...
penalty u/s 271(1)(c)

No Penalty u/s 271(1)(c) in 9 Types of Additions

Penalty initiation by assessing officer is routine when any addition or allowance is made while assessing the total income of an assessee.However, initiation of...
deemed annual value

No Deemed Annual Value Even if Owning More Than One House ! Here is...

More than one house and not showing any house property income ?If yes, it is  a very common query by the income tax authorities why...
invalid return

Even If CPC Banglore Declared Your Return Invalid u/s 139(9) , You Can Still...

These days , CPC Banglore is issuing notices under section 139(9) of the Income Tax Act for cure of various defects in the tax...

Last Date for filing Return Two Assessment Years Ends on 31/03/2018

Filing tax return is one of the most important legal compliance by a tax payer. It is always better to file the tax return...

You too can get relief like Shahrukh Khan from 148 Proceeding !

It is common knowledge that Income Tax Department is very generous in case of issue of notice for reassessment u/s 148 is concerned. If...

Section – 115A of Finance Act 2018 : Tax on dividends, royalty and technical...

Tax on dividends, royalty and technical service fees in the case of foreign companies. 115A. (1) Where the total income of— (a) a non-resident (not being...

Section 61 : Revocable transfer of assets

Revocable transfer of assets. 61. All income arising to any person by virtue of a revocable transfer of assets shall be chargeable to income-tax as the income...

CGST Circular on Online Registration And Online Filing Of Claims, By Eligible Units For...

ONLINE REGISTRATION AND ONLINE FILING OF CLAIMS, BY ELIGIBLE UNITS FOR DISBURSAL OF BUDGETARY SUPPORT UNDER GST REGIME, LOCATED IN STATES OF JAMMU &...

A Simple Quiz 99% Tax Expert will Fail !!

Are you serious ? Is this sentence "A Simple Quiz 99% Tax Expert will Fail !!" an arrogant statement ? I dont think so...