Reassessment

The Procedure for Reassessment Proceedings under the Income Tax Act 3 min read

• Income Tax

The Procedure for Reassessment Proceedings under the Income Tax Act

Rebecca Ghomes 7 years ago

When you are filing for income tax in India, you should be aware of the jargons that are present in the Income Tax Act. There... Read More

Mere low income cannot constitute understatement of income by an Assessing Officer 4 min read

• Income Tax

Mere low income cannot constitute understatement of income by an Assessing Officer

Sourav 8 years ago

The provisions contained in the section 147 of the Income Tax Act authorizes the Assessing Officer for reassessment by reopening the case wherever there is... Read More

Reassessment under Section 147 for increase in revenue due to demonetization 2 min read

• Income Tax

Reassessment under Section 147 for increase in revenue due to demonetization

Sourav 8 years ago

The Government of India for curbing the black economy has stimulated people for shifting towards the digital payment mode for their financial transactions using net... Read More

Reopening of cases by Assessing Officer for Income Escaping Assessment 4 min read

• Income Tax

Reopening of cases by Assessing Officer for Income Escaping Assessment

Sourav 8 years ago

As per the provisions of section 147 and section 148 of the Income Tax Act the Assessing Officer can reopen the assessment of earlier years,... Read More

Provision Of Reassessment Under Income Tax Act 1961- PART I 2 min read

• Income Tax

Provision Of Reassessment Under Income Tax Act 1961- PART I

Manager 11 years ago

Reassessment of income as the word suggests is assessing the income of an assessee again even when the assessment has taken place earlier. Such reassessment... Read More