Re-Assessment Or Additional Assessment In Case Of Income Escaping Assessment on part of NRI

[Procedure for the Filing of Income Tax and Wealth Tax Returns, Assessment, and Refunds]

Where the income tax chargeable has been under-assessed or where such income has been assessed at too low a rate or where excessive relief is granted to the non-resident Indian, the Assessing Officer may reassess such income or re-compute the loss for the assessment year concerned. Where the Assessing Officer believes that such assessment or re-assessment is due to the omission or failure on the part of the Non-Resident Indian to disclose fully and truly all facts in the return, the Assessing Officer can issue a notice under Section 148/147(a) within 4, or 6 years, depending on the quantum of income concerned.

 
Procedure for the Filing of Income Tax and Wealth Tax Returns, Assessment, and Refunds
1. Income Tax Return To Be Voluntarily Filed And Tax Paid On Self-Assessment If An NRI has Taxable Income In India
2. The Assessing Officer Can Also Require The Non-Resident To File Income Tax Return
3. NRls Can Apply For Refund Of Income Tax By Filing Income Tax Return
4. Income Of Nris Is Generally Accepted Without Scrutiny
5. Regular Assessment After Personal Hearing, And Examination Of Papers, Etc. By The Assessing Officer
6. Ex Parte Assessment By The Assessing Officer
7. Re-Assessment Or Additional Assessment In Case Of Income Escaping Assessment
8. Completion Of Assessment And Payment Of Tax
9.Provision Regarding Penal Interest And Penalty For Delay In Filing Income Tax Return Or Payment Of Tax
10. Deduction Of Tax At Source And Payment Of Advance Tax By NRIs
11. Remedies By Way Of Appeal, Etc. Available To A Non-Resident Indian
12. Other Provisions For Rectification And Settlement Of Cases
13. Who can be an Agent of a Non-Resident Indian?
14. Procedure for getting a Permanent A/c Number (PAN)
15. Double Taxation Relief
16. Assessment Procedure for Wealth Tax
 
 
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