Section 147

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 9 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

What to do if you are summoned by the Assessing Officer in the Income Tax Department for a reassessment? 3 min read

• Income Tax

What to do if you are summoned by the Assessing Officer in the Income Tax Department for a reassessment?

Rebecca Ghomes 9 years ago

You may fall into a situation after filing your returns, where you are summoned by the Assessing Officer in the Income Tax Department for a... Read More

Let’s check out the various assessments under the Income Tax Law 3 min read

• Income Tax

Let’s check out the various assessments under the Income Tax Law

Rebecca Ghomes 9 years ago

There are different types of Income Tax assessments and in this article, we will discuss few factors related to them from the aspect of time... 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 9 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

Taxpayers jitters with extensive search and seizure powers to Assessing Officers 3 min read

• Income Tax

Taxpayers jitters with extensive search and seizure powers to Assessing Officers

Sourav 9 years ago

The amendments and changes in the procedural rules including changes in search and seizure provisions in Income Tax Act have had the consequence of setting... Read More

Assessment of income of third person under the Income Tax Act 3 min read

• Income Tax

Assessment of income of third person under the Income Tax Act

Rebecca Ghomes 9 years ago

Section 153C – Under this provision provides for the procedure for assessment of income of any other person. Section 153C (1) provides that notwithstanding anything... 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 9 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

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 13 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