Knowledge Base @ Tax Management

79. Section-140 : Income Tax Return by Whom to be Signed / Verified
78. Section-285BA : Obligation To Furnish Annual Information Return (AIR)
Any person being specified u/s 285BA and who is responsible for registering, or maintaining books of account or other documents, containing a record of any specified financial transaction, under any law for the time being in force,
77. Standard Operating Procedure for Handling E-filed Returns where Self Assessment Tax is Not Paid
The data of cases where self Assessment Tax is not paid has already been forwarded to the field AOs through i-taxnet/ E-filing AO Portal. Jurisdictional AO should issue notice u/s 139 (9) and consider giving further period
76. Section-139(9): Defective Tax Return
Where the Assessing Officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect within a period of 15 days from the date of intimation.
75. Section 139(5) : Revised Income Tax Return
If any person, having furnished a return u/s 139(1), or in pursuance of a notice issued under section 142(1), discovers any omission or any wrong statement therein, he may furnish a revised return at any time
74. Section-139 (4C)] : Income Tax Return of Persons Claiming Exemption under Section 10
The following assessees shall now be required to file return of income in Form No. ITR-7 if the total income, without giving effect to the provisions of section 10, exceeds the maximum amount not chargeable to tax.
73. Section-139(4A) : Income Tax Return of Charitable and Religious Trusts
Every person in receipt of income derived from property held under trust or other legal obligation wholly or partly for charitable or religious purposes or of income being voluntary contributions referred to in section 2(24)(iia) shall,
72. Section-139(4) : Belated Income Tax Return
If an assessee has not furnished a return of his income within the time allowed to him under section 139(1) or within the time allowed under a notice issued under section 142(1),
71. Section-139(3) : Return of Loss
Any person who has suffered a loss in any previous year under the head Profits and gains of business or profession” or under the head ‘Capital gains” and intends to carry forward and
Sec. 143(3) : Scrutiny Assessments by Income Tax Department
“Penalties” Under Income Tax Act. 1956
How is a Search Operation Conducted by Income Tax Department ?
Surveys for Checking Ostentatious Expenditure
Surveys for Enforcing Compliance with Provisions of TDS
“Summon” U/s 131 of Income Tax Act.
Investigation by Income Tax Department:
Appellate Authorities of Income Tax Department
Power to Call for Information U/s Sec. 133(6) of Income Tax Act.
Specific Surveys U/s 133A(1) of Income Tax Act.
Types Of Income Subject To TDS [Deduction Of Tax At Source]
Pre-Requisite For Claiming Income Tax Refund
Benefits of Filing Income Tax Returnsn
Section-139(9): Defective Tax Return
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