{"id":88,"date":"2015-05-02T13:09:38","date_gmt":"2015-05-02T07:39:38","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=88"},"modified":"2026-01-28T00:00:50","modified_gmt":"2026-01-27T18:30:50","slug":"88","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/88\/","title":{"rendered":"Summary about Income-Tax Assessments Procedures"},"content":{"rendered":"

\"www.carajput.com;Income<\/a><\/p>\n

ALL ABOUT INCOME-TAX<\/a> ASSESSMENTS PROCEDURES, APPEALS & REVISION<\/strong><\/span><\/h2>\n
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  1. TIME FOR FILING RETURN OF INCOME [SEC. 139 (1)]<\/span>\u00a0Different Situations Due Date for filing Return <\/a>1. Where the assessee is a company i. Required to file a Transfer Pricing report under section 92E ii. In any other case 30th November 30th September 2. Where an assessee is a person other than a company \u2013 i. In the case where accounts of the assessee are required 30th September to be audited under any law ii. Where the assessee is a \u201cworking partner\u201d in a firm whose accounts are required to be audited under any law iii. In any other case 30th September 31st July<\/li>\n<\/ol>\n
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    1. FILING OF RETURNS <\/span>\u00a0 Compute\u00a0income for each Source of Income\u00a0\u00a0Aggregate\u00a0the income from various sources under the respective Heads of Income\u00a0\u00a0Arrive\u00a0at the Gross Total Income\u00a0Claim\u00a0the Deductions available\u00a0\u00a0Arrive\u00a0at the Total Income<\/li>\n<\/ol>\n
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      1. STEP OF FILING OF RETURNS – STEPS<\/span> \u00a0Compute\u00a0\u00a0Reduce\u00a0\u00a0Add\u00a0the Tax payable on the Total Income the Rebates if any from the tax payable Surcharge as applicable to the tax\u00a0\u00a0Add\u00a0the Education Cess to the figure of tax plus surcharge\u00a0\u00a0Arrive\u00a0at the Gross Tax Liability<\/li>\n<\/ol>\n
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        1. NEXT STEP OF FILING OF RETURNS <\/span>\u00a0From\u00a0the Gross Tax payable, reduce the TDS\u00a0\u00a0Arrive\u00a0at the Net Tax Payable or the Refund due as the case may be\u00a0\u00a0If\u00a0the net tax payable is equal to or more than Rs. 10,000 then Advance Tax is payable\u00a0\u00a0Advance\u00a0tax is payable in 3 installments (4 in case of companies) during the previous year itself.<\/li>\n<\/ol>\n
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          1. FILING OF RETURNS – STEPS<\/span>\u00a0\u00a0If there is a shortfall in payment of advance tax then calculate Interest u\/s. 234B and\/or 234C\u00a0\u00a0If the return is filed late then calculate Interest u\/s. 234A\u00a0\u00a0From the net tax payable, reduce the Advance Tax\u00a0\u00a0Add the Interest to the balance amount to arrive at the Self Assessment Tax Payable \/ Net Refund Due.<\/li>\n<\/ol>\n
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            1. NEXT STEP OF FILING OF RETURNS – STEPS<\/span>\u00a0\u00a0Pay the Self Assessment Tax\u00a0\u00a0File the Return physically or upload the return electronically.<\/li>\n<\/ol>\n
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              1. ADVANCE TAX [SECTION 211]<\/span> \u00a0Advance tax is payable in 3 Installments (4 in case of Companies)\u2014\u00a0Payable on 15th June\u00a0\u00a015th September\u00a0\u00a015th December\u00a0\u00a015th March\u2014\u00a0and Where the first installment of\u00a015th June\u00a0is payable only if the assessee is a company.<\/li>\n<\/ol>\n
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                1. SELF ASSESSMENT TAX [SECTION 140A]<\/span> When on the computation of income for the year for the purpose of filing the return of income it is found that some tax remains payable even after adjustment of advance tax along with deducted\/collected at source, such balance tax along with interest thereon is required to be paid as self-assessment tax before filing the returns of income.\u00a0\u00a0From A.Y 2013-14, any return uploaded without paying\u00a0the Self-assessment tax would not be accepted by the Income-tax department and considered defective.<\/li>\n<\/ol>\n
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                  1. RETURN OF INCOME [SECTION 139]<\/span>\u00a0\u00a0Normal Return\u00a0\u00a0Belated Return\u00a0\u00a0Revised Return\u00a0\u00a0Loss Return\u00a0\u00a0Defective Return.<\/li>\n<\/ol>\n

                    \"RETURN<\/p>\n

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                    1. NORMAL RETURN<\/span> \u00a0Who\u00a0is required to file a return of income\u00a0\u2014\u00a0Company or a firm \u2013 mandatory requirement\u00a0\u2014\u00a0Others \u2013 total income exceeds basic threshold limit (i.e. INR 2,00,000 for A.Y. 2013-14)\u2014\u00a0Any person who is otherwise not required to furnish return of income will be required to file a return if he has any asset located outside India or has signing authority in any account located outside India.<\/li>\n<\/ol>\n
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                      1. BELATED RETURN<\/span>\u00a0\u00a0Any\u00a0person who has not furnished a return within the time allowed u\/s 139(1) or\u00a0\u00a0Within the time allowed under a notice issued u\/s\u2014\u00a0142(1), but filed before the end of one year from the relevant assessment year or the completion of the assessment, whichever is earlier.<\/li>\n<\/ol>\n
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                        1. REVISED RETURN<\/span> Can be filed if the assessee discovers any omission or wrong statement\u00a0\u00a0Replaces the original return\u00a0\u00a0Can be filed before the end of one year from the\u00a0relevant assessment year or the completion of the assessment, whichever is earlier\u00a0\u00a0Can be revised further\u00a0\u00a0Belated return cannot be revised.<\/li>\n<\/ol>\n
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                          1. LOSS RETURN<\/span> \u00a0Return must be filed within the prescribed time limits\u00a0\u00a0If not filed, no carry forward of loss, however, carry forward of loss under House property head, unabsorbed depreciation & unabsorbed family planning expenses are permissible.<\/li>\n<\/ol>\n
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                            1. DEFECTIVE\u00a0\u00a0RETURN\u00a0<\/span> Incomplete return \u00a0Assessee may be given an opportunity to rectify the defect\u00a0\u00a0If the defect is not rectified, the return is treated as invalid.\u00a0\u00a0Return will be defective if columns of return not filled or annexures are not attached;\u00a0\u00a0computation of income tax not attached; proof of tax deposited is not produced within the period of two years, Nonfurnishing of the tax audit report; etc, Self-assessment tax is not paid (from A.Y 2013-14).<\/li>\n<\/ol>\n
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                              1. RETURN IS FILED \u2013 WHAT NEXT?<\/span>\u00a0\u00a0Either a summary assessment (Section 143(1)) and\/or\u00a0\u00a0A regular (scrutiny) assessment (Section 143(3)).<\/li>\n<\/ol>\n
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                                1. SUMMARY ASSESSMENT [SEC. 143(1)\u00a0<\/span>To be issued only if there is a demand or a refund due.\u00a0\u00a0If no demand\/refund then Acknowledgement is deemed to be the intimation\u00a0\u00a0Time limit \u2013 the end of one year from the relevant assessment year or the completion of the assessment, whichever is earlier. There will be no processing of the returns where assessee are selected for Scrutiny.<\/li>\n<\/ol>\n

                                  \"SUMMARY<\/p>\n

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                                  1. SCRUTINY ASSESSEMENT [SEC. 143 (2)\/(3)]<\/span>\u00a0\u00a0Time limit for issuing notice Time limit for completing the scrutiny Type of questions that are being asked.<\/li>\n<\/ol>\n

                                     <\/p>\n

                                    \"Assessment<\/p>\n

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                                    1. REFUNDS [SECTION 237]<\/span> \u00a0A claim for refund shall be claimed in Form No. 30\u00a0\u00a0Adjustment of refund against the demand for another year (Section 245).<\/li>\n<\/ol>\n
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                                      1. INTEREST [SECTION 234A 234D<\/span>] \u00a0For Defaults in furnishing return of income [SECTION 234A] \u00a0For Failure to Deduct and pay tax at source [SECTION 201(1A)] A Interest for Default in payment of Advance Tax [SECTION 234B].<\/li>\n<\/ol>\n
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                                        1. An INTEREST [SECTION 234A 234D]<\/span>\u00a0TO SECTION\u00a0For Deferment of Advance Tax [SECTION 234C] Corporate Assessee [SECTION 234C(1)(a)] Non Corporate Assessee [SECTION 234C(1)(c)]\u00a0\u00e0Short payment of Advance Tax in case of Capital Gains\/Casual Income [First Proviso to SECTION 234C(1)].<\/li>\n<\/ol>\n
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                                          1. INTEREST [SECTION 234A 234D]\u00a0<\/span>\u00a0Interest TO SECTION on Excess Refund [SECTION 234D]\u00a0For Making Late Payment of Income tax [SECTION 220(2)]\u00a0\u00a0Interest Payable to Assessee [SECTION 244A].<\/li>\n<\/ol>\n
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                                            1. RECTIFICATION OF MISTAKES\u00a0[SECTION 154]RECTIFICATION OF MISTAKES<\/span> \u00a0An income-tax authority may with a view to rectifying any mistake apparent from the record:\u00a0\u00a0amend any order passed by it\u2014\u00a0\u00a0amend any intimation or deemed intimation under\u2014 section 143(1) and section 200A. Rectification may also be made on application by the assessee\u00a0\u00a0Orders cannot be rectified after the expiry of 4 years from the end of the financial year in which order sought to be amended was passed\u00a0\u00a0On rectification plea by the assessee \u2013 Amendment\/refusal order to be passed within 6 months from the end of the month in which the application is received by the income tax authority.<\/li>\n<\/ol>\n
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                                              1. The RECTIFICATION OF MISTAKES<\/span> \u00a0Mistake\u00a0\u00a0Obvious and patent\u2014 Self-evident and reached without debate\u2014\u00a0\u00a0Fresh determination of facts should not be required\u2014\u00a0\u00a0Misreading of a clear provision of law\/ applying an\u2014\u00a0inapplicable provision\/ overlooking mandatory provision\u00a0\u00a0Statutory interpretation should not be involved\u2014\u00a0\u00a0Record\u00a0\u00a0Includes all materials\/ documents available at the time\u2014\u00a0of passing the order of assessment\u00a0\u00a0Fresh documents\/ materials not recorded at the time of\u2014\u00a0passing the order cannot be considered\u00a0\u00a0Record of any period can be considered\u2014<\/li>\n<\/ol>\n

                                                \"The<\/p>\n

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                                                1. RECTIFICATION OF MISTAKES<\/span> \u00a0Examples of mistakes apparent from the record which can be rectified \u2014 Error of law or fact \u2014 Clerical or arithmetical error \u2014 Error in the determination of written down value \u2014 Overlooking the obligatory provisions of the legislature \u2014 Mistakes arising out of retrospective amendment of the law<\/li>\n<\/ol>\n
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                                                  1. REVISION OF ORDERS BY COMMISSIONER\u00a0[SECTION 263 & 264]REVISION OF ORDERS BY COMMISSIONER\u00a0U\/S 263<\/span>\u00a0\u00a0Pre-requisites\u00a0\u2014\u00a0Erroneous order Record shall include and shall be deemed always to have included all records available at the time of examination by the Commissioner Revised order should be passed before the expiry of 2 years from the end of the financial year in which order sought to be revised was passed Opportunity of being heard should be given to the assessee before passing an order under section 263 Powers of Commissioner \u2013 Enhance, modify or cancel the assessment and direct a fresh assessment Appeal can be filed to the Appellate Tribunal against the order under section 263\u00a0\u2014\u00a0\u00a0Prejudicial to interests of Revenue<\/li>\n<\/ol>\n
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                                                    1. THE REVISION OF ORDERS BY COMMISSION U\/S 264:<\/span> Revision of orders, on own motion of Commissioner or on application by the assessee Revision of order on own motion by the Commissioner, to be passed within one year from date of the order sought to be revised Application by the assessee should be made within 1 year from the date on which the order in question was communicated or date on which assessee came to know of order, whichever is earlier Order to be passed within 1 year from end of the financial year in which application is made by the assessee for revision Pre-requisite \u2013 Assessee to waive right of appeal Where an appeal against the order has been filed \u2013 no revision possible<\/li>\n<\/ol>\n
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                                                      1. APPEALS TO COMMISSIONER(APPEALS) [SECTION 246A TO 249]APPEALS TO COMMISSIONERS (APPEALS)<\/span> Appealable orders (Illustrative):\u00a0\u00a0Scrutiny assessment order\u2014\u00a0\u00a0Best Judgment assessment order\u2014\u00a0\u00a0Reassessment order\u2014\u00a0\u00a0Rectification order enhancing assessee\u2019s liability\u2014\u00a0\u00a0Appeal against intimation passed under section 200A\u2014\u00a0\u00a0Tonnage tax order\u2014 Appeal to CIT(A) within 30 days of the date of payment of tax, where the appeal is in respect of TDS\u2014under section 195\u00a0\u00a0Date of service of notice of demand relating to the assessment or\u2014 penalty\u00a0\u00a0Date on which intimation of order sought to be appealed against\u2014 is served<\/li>\n<\/ol>\n
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                                                        1. AN APPEALS TO COMMISSIONERS (APPEALS)<\/span>\u00a0\u00a0Time extended if sufficient cause proven Appeal to be filed in prescribed form and manner CIT(A) fixes a day and place for hearing the appeal, and notice of the same is given to the appellant and the assessing officer whose order is being appealed against\u00a0During the course of the hearing, CIT(A) may entertain additional ground\/evidence raised by the appellant in seeking modification of the assessment order passed by the assessing officer\u00a0\u00a0CIT(A)\u2019s order disposing of the appeal is in writing and states decision and reasons supporting the same\u00a0\u00a0CIT(A) has powers to confirm, reduce, enhance or annul the assessment Where possible, CIT(A) to dispose within 1 year from the end of the financial year in which appeal was filed<\/li>\n<\/ol>\n
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                                                          1. APPEALS TO TRIBUNAL [SECTION 252 TO 255]APPEALS TO TRIBUNAL<\/span>\u00a0\u00a0Should be filed within 60 days of the date on which the order sought to be appealed against is communicated Memorandum of cross-objections \u2013 within 30 days of receipt of notice that an appeal has been preferred to the ITAT Time extended if sufficient cause proven To be filed in prescribed form and manner Additional ground\/ evidence can be raised for the first time before the ITAT. In such a case opportunity of being heard should be given to the assessing officer After hearing both parties, the ITAT passes an order as it thinks fit and communicates the same to the assessee and the Commissioner Where possible, ITAT to dispose within 4 years from the end of the financial year in which appeal was filed In case order of stay is made, appeal to be disposed within 180 days of stay order; else, stay stands vacate.<\/li>\n<\/ol>\n
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                                                            1. AN APPEALS TO TRIBUNAL<\/span>\u00a0Mistakes apparent from record \u2013 Order of ITAT can be amended within 4 years from date of ITAT order [Section 254(2)] if it is brought to the notice by the assessee or the assessing officer\u00a0\u00a0Final fact finding authority\u00a0\u00a0Binding nature<\/li>\n<\/ol>\n
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                                                              1. APPEAL TO HIGH COURT [SECTION 260A] APPEALS TO HIGH COURT<\/span>\u00a0Right exercisable u\/s 260A\u00a0\u00a0Preferred against ITAT\u2019s order\u00a0\u00a0Only for a case involving a \u201csubstantial question of\u00a0law\u201d\u00a0\u00a0Should be filled within 120 days of receipt of ITAT\u2019sorder\u00a0\u00a0Can also be filed by the Tax department\u00a0\u00a0Rules framed for court proceedings and conduct\u00a0has to be observed<\/li>\n<\/ol>\n
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                                                                1. SUPREME COURT APPEALS <\/span>Right\u00a0exercisable u\/s 261.\u00a0\u00a0Preferred against High Court\u2019s order\u00a0Only for a case involving a \u201csubstantial question\u00a0of law\u201d\u00a0\u00a0Should be filled within 60 days of receipt of High Court\u2019s order\u00a0\u00a0Can also be filed by the Tax department\u00a0\u00a0Rules framed for court proceedings and conduct has to be observed<\/li>\n<\/ol>\n

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