Income Tax Assessment Case

Income Tax Assessment Case

Income Tax Assessment Case

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What is Income Tax Assessment?

Every year all the citizens in India are expected to submit their income tax return furnishing their income details, tax information along with the Investment details to the Income Tax Department. After the submission of IT returns, the Income Tax Department starts processing the return to check on its accuracy, which is called “Assessment”, under the Income Tax Law. As per section 144, this Assessment also includes re-assessment and best judgement assessment.

Type of Assessment in Income Tax?

Income Tax Assessment Case

The various forms of assessment are as follows: 1. Self-Assessment 2. Summary Assessment 3. Regular Assessment 4. Best Judgement Assessment 5. Income Escaping Assessment

Why Income Tax Assessment conducted?
At the end of each financial year, all persons and entities required to file an income tax return by self-computing the amount of income earned and pay the tax due. Income tax assessment is the process of collecting and reviewing the information filed by an assessee in their income tax return.

What is Tax on Regular Assessment?
Tax on regular assessment is the tax that a taxpayer is required to pay against a notice of demand from the Income-tax department. The only difference is that in the field of "Type of payment", you will have to select "(400) Tax on Regular Assessment".

Income Tax Assessment
₹ 17700
  • Package Includes

Documents Required for Income Tax Assessment Case

  • Copy of Notice
  • Pan card
  • All the Bank accounts
  • Proof of Investment
  • TDS Certificate
  • Tax Payment Challan for Self-Assessment or Advance tax
  • Form 16 and 16A
  • Expense Invoice/Vouchers

Process Involved

Step 1

1

Notice/Instruction from ITD

Step 2

2

Documentation

Step 3

3

Attend the meeting with Assessing Officer

Step 4

4

Submission of documents with Assessing Office

Step 5

5

Final order from Assessing officer

Step 6

6

Payment of Tax as per Final order if any Fees

FAQ'S