Process of assessment
This query is : Resolved
02 October 2014
can anyone tell me what is the procedure of assessment of assessee under income tax act 1961 by ao
Nikhil Kaushik
(Expert)
02 October 2014
the assessments are covered under Chapter XIV of the Income tax Act covering section 139 to 158.
The general assessment is covered under section 143. Where your case is picked for scrutiny, notice under section 143(2) is issued to you for initiating the assessment proceedings. The AO can direct you to furnish documents/information in support of the incomes/expenses reflected in the tax return. At the completion of proceedings AO issues order 143(3).
AO can make additions to your income where deemed fit.
Other forms of assessments like best judgment assessment, reasessment etc are also covered in this chapter.
The general assessment is covered under section 143. Where your case is picked for scrutiny, notice under section 143(2) is issued to you for initiating the assessment proceedings. The AO can direct you to furnish documents/information in support of the incomes/expenses reflected in the tax return. At the completion of proceedings AO issues order 143(3).
AO can make additions to your income where deemed fit.
Other forms of assessments like best judgment assessment, reasessment etc are also covered in this chapter.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
