Block asswssment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2012
what is block assessment?
when it is done?
what is its importance?
when it is done?
what is its importance?
07 January 2012
Block Assessment is carried on in the cases where search has been conducted U/s 132 or where Books of account and other documents have been requisitioned U/s 132A in cases where chances of concealed income are observed by the Higher IT authorities.
.
The assessee has to furnish returns for the block period which covers preceding 6 years.
.
After filing the returns by the assessee block assessment proceeding starts.
.
Department can make liable the assessee to pay taxes on his concealed income is the main objective to conduct the assessment. More over, the assessee-class also get aware and becomes tax conscious.
.
.
The assessee has to furnish returns for the block period which covers preceding 6 years.
.
After filing the returns by the assessee block assessment proceeding starts.
.
Department can make liable the assessee to pay taxes on his concealed income is the main objective to conduct the assessment. More over, the assessee-class also get aware and becomes tax conscious.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Regarding E-invoice Generation
- Forgot to update debit note in gst
- Can we claim ITC in 28%
- Wrongly goods delivered to other state
- Applicability of RCM on Frieght Inward supplies received from un-registered person
- Conversion of Pvt Ltd Company to a LLP
- Query Regarding Income Tax Rate on Gain from Transfer of Partnership Stake (LLP Partner)
- CA Final exam Form
- Can we issue an invoice today
- Foreign commission liable for rcm
- Loans and borrowing
- Registration of partnership firm maharashtra
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
