An individual could receive a notice under section 148 in case the assessing officer believes that such an individual’s income chargeable to tax might have escaped assessment. In case the proof supporting his belief is available, the AO would record his reasons in writing and send the individual notice under section … See more Section 151(1) of the Income Tax Act, 1961 contains the provisions for issue of notice: 1. No notice would be issued by an Assessing Officer under section 148, after … See more Section 149 of the Income Tax Act, provides that the notice under section 148 could be issued within a period of 4 years from the end of relevant AY … See more The key thing to bear in mind is to not to take the notice lightly. In case you receive the notice under section 148, please follow the below-mentioned pointers: 1. … See more WebMar 17, 2024 · Section 148 of the Income Tax Act provides for the issuance of a notice for reassessment of income to an individual or entity. The notice can be issued if the assessing officer has reason to believe that income has escaped assessment. The notice can be issued within four years from the end of the assessment year if the income escaped …
Section 148 of Income Tax Act 1961: Notice and Reply
WebApr 12, 2024 · A return of income filed in response to Notice u/s 148 is also treated as a return filed u/s 139 and provisions of income tax act so far as may be, apply accordingly as if such return were a return required to be furnished u/s 139. ... The relevant facts leading to the filing of aforementioned Income Tax Appeal No.97 of 2024 before the High ... WebApr 26, 2024 · In this video, I am sharing few tips and demonstration of filing ROI in response to notice u/s 148. Hope it will help! how to setup paynow ocbc
Section 148 requires the person to file the return of income in
WebFeb 6, 2024 · Prepare for Your Appointment. Schedule your appointment ahead of time. A current government-issued photo ID. A taxpayer identification number, such as a Social … Web2 days ago · An assessment was originally made on the assessee under Section 143(3) of the Income-tax Act by order passed on 26.3.1998. In this order, the total income of the assessee was determined at Rs. 2,64,815/-. ... the date of filing the return under Section 148 was 23.3.2000 with the result that the last day for issue of the notice under Section 143 ... WebSection 148. Benchmarks . Nifty 159.0. Precious Metal . Gold (MCX) (Rs/10g.) 179.0. Search for Stocks, News, Mutual Fund, News etc. English Edition English Edition ... A common one, this one is for not filing the income tax return. It can also stand for scrutiny of the respective accounts and documents backing the return filed by the taxpayer. how to setup payment plan with irs