Regular Assessment After Personal Hearing, And Examination Of Papers, Etc. By The Assessing Officer in case of NRI
[Procedure for the Filing of Income Tax and Wealth Tax Returns, Assessment, and Refunds]
Where the Assessing Officer considers it necessary to verify the correctness and completeness of the income tax return, by requiring the presence of the assessee or the production of evidence for this purpose, the Assessing Officer must serve on the assessee (including a nonresident Indian) a notice for personal hearing or the production of evidence in support of the return under Section 143(2). This is normally done when a case is selected for detailed scrutiny on a random sampling basis. In such a case after taking into account all relevant material which the Assessing Officer has gathered and after hearing such evidence as the assessee may produce, the Assessing Officer has to make an assessment under Section 143(3). There is also a procedure for compulsory audit of accounts u/s 44AB where the turnover, etc. exceeds `. 40,00,000. Most non-resident Indians may not be required to have a tax audit of their accounts, hence the provisions in this regard have not been discussed here.
Procedure for the Filing of Income Tax and Wealth Tax Returns, Assessment, and Refunds
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.
The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications