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.

Which Bank Accounts Can be Operated By An NRI ?

Indian banking system allows three types of accounts for person residents outside India specially created for non resident Indians. NRIs . The bank...

What Are Powers Of A.O u/s 142(1) & 143(2)?

I have the following queries?1. Is there a time limit for issuing notice u/s 142 (1) ?2. Can a notice u/s 142(1) be issued...

Do Non Resident Get Basic Exemption Of Tax Free Income?

Is the non tax payments limits applicable to non resident? I am an NRI senior citizen and my gross income is my pension in...

How To Get Unusually Late Refunds?

Getting refunds from the income tax department has become a bit easier , but still a long way to go. So the grievances for...

How To File Return If You Are Abroad?

If I am outside country and cannot file return. Can I file return after coming to India? I am in UK till Dec 2007....

How To Get Info About A Taxpayer ?

My father expired in April 2007 while still in service. His income was taxed at source by his employer (a public sector unit). Few...

Will I Be Taxed In India For My Dutch Salary?

I am an Indian resident working with a multinational company at the Hague - the tenure is for six months - I have got...

How To Comply With Income Tax Formalities In Case Of Deceased Person?

In my company one of Director has expired on 27.03.07. He was earning income from salary, shares, interest. and he files return as individuals...

Can Claim Of Deduction /Exemption/Refund Be Made After Lapse of More Than Two Years?

Only way to claim back a tds or tax is by filing a return and claiming the refund. In many cases, tax payer for...

Is There Time Limit For Issuing Notice For Search Assessment?

A search was conducted on some person in 2002. during search certain papers belonging to me were also found. However till 2006 no notice...
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