Filing an Appeal against Demand Order (FORM GST APL-01) Q 1. Who can file an appeal to the Appellate Authority? Ans. Any taxpayer or an unregistered person aggrieved by any decision or order passed against him by an adjudicating authority, may appeal to the Appellate Authority, within three months from the date on which the […]
Penalty for failure to comply with notice under section 142(1) or 143(2) Penalty under section 272A is levied if a taxpayer fails to comply with notice issued above section. fails to comply with a direction issued under section 142(2A). we shall take a brief overview of provisions of section 142(1), 142(2A) and section 143(2). Section […]
Can a Income Tax return be filed after the due date of ITR ? Can Income Tax Return be filed after due date:- Income Tax Return which has not been furnished on or before the due date specified under section 139(1) of Income Tax Act is called belated return. Belated return of income is furnished […]
Penalty on receipt of an amount of Rs. 2 lakh or more in cash Section 269ST of Income Tax Act (as inserted by the Finance Act, 2017 with effect from 1/4/2017) provides that no person shall receive an amount of 2,00,000 Rupees or more, — 1.in aggregate amount from a person in a day; [As […]
What is the meaning of inter-head adjustment in Income Tax? After making intra-head adjustment (if any) the next step is to make inter-head adjustment in Income Tax. If in any year, the Income taxpayer has incurred loss under one head of income and is having income under other head of income, then he can adjust […]
What is assessment under section 143(1)? Scope of assessment under section 143(1) Assessment under section 143(1) of Income tax Act is like preliminary checking of the return of income. At this stage no detailed scrutiny of the Income tax return of income is carried out. At this stage, the total income or total loss is computed after […]
Can a Income Tax return be filed after the due date? Return of income which has not been furnished on or before the due date specified under section 139(1) of Income Tax Act is called belated return. Belated return of income is furnished under section 139(4) of Income Tax Act. Any person who has not […]
Best judgment assessment under section 144 of Income Tax Act 1961 What is assessment under section 144? Assessment under section 144 of Income tax act (called best judgment assessment) is an assessment carried out as per the best judgment of the Assessing Officer. Best judgment assessment is resorted due to certain failures (specified under […]
What is the procedure adopted for making the assessment under sec 143(3) of Income Tax Act i.e. scrutiny assessment? In case of Assessment under section 143(3) of Income tax act, a scrutiny is carried out to confirm the correctness and genuineness of various claims, deductions, etc., made by the taxpayer in the return of income. […]
Which Income Tax appeals (Income tax appeal pending) are covered under the Vivad se Vishwas Scheme? Vivad se Vishwas Scheme Detail Pdf Income Tax Appeals pending before the appellate forum [Commissioner (Appeals), Income-tax Appellate Tribunal (ITAT), High Court or Supreme Court], and writ petitions pending before any High Court or Supreme Court or special leave […]
