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.

Got hefty Dividend.Mistake you can’t afford to do then.

Suppose , you got some news that a company X may announce hefty dividend. In anticipation , you bought the shares , and fortunately...

Securities Tranaction Tax deducted on my speculative share dealings.Will I get rebate ?

Yes , you will get the rebate u/s 88E of the I T Act if following two conditions are fulfilled :1. Your total income...

What is the procedure for transferreing the file from one jurisdiction to another or...

Under Income Tax law , the power of transfer of file is with the Commissioner of Income Tax u/s 127 of the I T Act. You write a letter to the CIT giving reasons for seeking transfer of file and the place , preferebaly the assessing officer Ward or commissioner where you want your files transferred. A copy of the letter should be marked to the CIT /ITO where you
Malcare WordPress Security