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Notice u/s 148 of the income tax

694 views 6 replies

URVI

TAX CUNSULTANT

214 Points Posted on 24 March 2018

i received notice u/s 148... for assessment Year 2011-12 ...please clarify about this section... and how can i solve it??

Replies (6)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211636 Points Posted on 24 March 2018

1. income-escaping-assessment or section-148

2. Tutorials/-various-assessments

3. https://www.caclubindia.com/articles/procedure-of-re-assessment-u-s-147--24208.asp

ajeet singh

1392 Points Posted on 24 March 2018

most probably there was a cash transaction in relevent year and u have not filed return or as return ed amt. is comparatively very low than transected amt.
u/s 148 complete assessment will be
done.

Rohan Bagra

Chartered Accountant

91 Points Posted on 25 March 2018

notice u/s 148 is issued for section 147 which is about income escaping assessment.

URVI

TAX CUNSULTANT

214 Points Posted on 26 March 2018

thank you so much sir

Sarita Borgaonkar

2 Points Posted on 12 March 2019

My grandfather he was 91 year old and he received income tax notice under section 148 because some cash transactions in their account and he doesn't no to file returns for the year 2011-12

Anil Kotak

student

309 Points Posted on 12 March 2019

You have to respond to the notice, if its not time barred. Contact some tax consultant to prepare financial statements, if you are liable to respond as per act.