Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 
Home Acts & Rules Income Tax Act Income-tax Act, 1961 Chapters List Chapter XIV PROCEDURE FOR ASSESSMENT This
← Previous Next →
  • Login
  • Notifications
  • Plus+

 

User Login
Username  
Password  
Stay sign in     

Forget password       New User/ Regiser



 

Section 143 - Assessment - Income-tax Act, 1961

Extract

..... en to the assessee of such adjustments either in writing or in electronic mode: Provided further that the response received from the assessee, if any, shall be considered before making any adjustment, and in a case where no response is received within thirty days of the issue of such intimation, such adjustments shall be made;] 33[Provided also that no adjustment shall be made under sub-clause (vi) in relation to a return furnished for the assessment year commencing on or after the 1st day of April, 2018;] (b) the tax 27[, interest and fee], if any, shall be computed on the basis of the total income computed under clause (a); (c) the sum payable by, or the amount of refund due to, the assessee shall be determined after adjustment of the tax 28[, interest and fee], if any, computed under clause (b) by any tax deducted at source, any tax collected at source, any advance tax paid, 35[any relief allowable under section 89,] any relief allowable under an agreement under section 90 or section 90A, or any relief allowable under section 91, any rebate allowable under Part A of Chapter VIII, any tax paid on self-assessment and any amount paid otherwise by way of tax 29[, interest or fee]; ( .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... soon as may be after the notification is issued, be laid before each House of Parliament.] 31[(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2): Provided that the provisions of this sub-section shall not apply to any return furnished for the assessment year commencing on or after the 1st day of April, 2017.] 26[(2) Where a return has been furnished under section 139, or in response to a notice under sub-section (1) of section 142, the Assessing Officer or the prescribed income-tax authority, as the case may be, if, considers it necessary or expedient to ensure that the assessee has not understated the income or has not computed excessive loss or has not under-paid the tax in any manner, shall serve on the assessee a notice requiring him, on a date to be specified therein, either to attend the office of the Assessing Officer or to produce, or cause to be produced before the Assessing Officer any evidence on which the assessee may rely in support of the return: Provided that no notice under this sub-section shall be served on the assessee after the expiry .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... er medical institution has been withdrawn or notification issued in respect of such news agency or fund or trust or institution has been rescinded :] 14[Provided further that where the Assessing Officer is satisfied that the activities of the university, college or other institution referred to in clause (ii) and clause (iii) of sub-section (1) of section 35 are not being carried out in accordance with all or any of the conditions subject to which such university, college or other institution was approved, he may, after giving a reasonable opportunity of showing cause against the proposed withdrawal to the concerned university, college or other institution, recommend to the Central Government to withdraw the approval and that Government may by order, withdraw the approval and forward a copy of the order to the concerned university, college or other institution and the Assessing Officer.] 22[Provided also that notwithstanding anything contained in the first and the second proviso, no effect shall be given by the Assessing Officer to the provisions of clause (23C) of section 10 in the case of a trust or institution for a previous year, if the provisions of the first proviso to clause .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... earlier amended by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, Finance Act, 1974, w.e.f. 1-4-1975, Finance Act, 1976, w.e.f. 1-4-1976, Finance (No. 2) Act, 1980, w.e.f. 1-4-1980 and Finance Act, 1987, w.e.f. 1-4-1988. 2. The provisions of section 143 as they stood before the commencement of the Direct Tax Laws (Amendment) Act, 1987, shall apply in respect of assessments for the assessment year commencing on the 1st day of April, 1988 and any earlier assessment year-vide Income-tax (Removal of Difficulties) Order, 1989. 3. Substituted by the Finance Act, 1999, w.e.f. 1-6-1999. Prior to its substitution, sub-section (1), as amended by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989, Direct Tax Laws (Second Amendment) Act, 1989, w.e.f. 1-4-1989, Finance Act, 1992, w.e.f. 1-4-1993 and Finance Act, 1997, w.e.f. 1-4-1998, read as under : "(1)(a) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142,- (i) if any tax or interest is found due on the basis of such return, after adjustment of any tax deducted at source, any advance tax paid and any amount paid otherwise by way of tax or interest, then, wi .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... for any tax or interest due under this clause shall not be sent after the expiry of four years from the end of the financial year in which any such order was passed. (c) Where the assessee is a member of an association of persons or body of individuals and as a result of the adjustments made under the first proviso to clause (a) of sub-section (1) in the income or loss declared in the return made by the association or body, as the case may be, or as a result of an order made under sub-section (3) of this section or section 144 or section 147 or section 154 or section 155 or sub-section (1) or sub-section (2) or sub-section (3) or sub-section (5) of section 185 or sub-section (1) or sub-section (2) of section 186 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264, or any order of settlement made under sub-section (4) of section 245D, passed subsequent to the filing of the return referred to in clause (a), there is any variation in his share in the income or loss of the association or body, as the case may be, or in the manner of inclusion of his share in the returned income, then,- (i) if any tax or interest is found due, an intimation shall b .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... of clause (a) of sub-section (1) ; (C) where any refund is due under sub-section (1), reduce the amount of such refund by an amount equivalent to the additional income-tax calculated under sub-clause (A) or sub-clause (B), as the case may be. (b) Where as a result of an order under sub-section (3) of this section or section 154 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264, the amount on which additional income-tax is payable under clause (a) has been increased or reduced, as the case may be, the additional income-tax shall be increased or reduced accordingly, and,- (i) in a case where the additional income-tax is increased, the Assessing Officer shall serve on the assessee a notice of demand under section 156 ; (ii) in a case where the additional income-tax is reduced, the excess amount paid, if any, shall be refunded." 7. Prior to its omission, sub-section (1B), as inserted by the Finance Act, 1990, w.r.e.f. 1-4-1989, read as under : "(1B) Where an assessee furnishes a revised return under sub-section (5) of section 139 after the issue of an intimation, or the grant of refund, if any, under sub-section (1) of this section, the .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... ve loss or has not under-paid the tax in any manner, serve on the assessee a notice requiring him, on a date to be specified therein, either to attend his office or to produce, or cause to be produced there, any evidence on which the assessee may rely in support of the return : Provided that no notice under this sub-section shall be served on the assessee after the expiry of twelve months from the end of the month in which the return is furnished." 9. Inserted by the Finance Act, 2003, w.e.f. 1-6-2003. 10. Substituted for "this sub-section" by the Finance Act, 2003, w.e.f. 1-6-2003. 11. Substituted by the Finance Act, 2002, w.e.f. 1-6-2002. Prior to its substitution, sub-section (3), as inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998, read as under: "(3) On the day specified in the notice issued under sub-section (2), or as soon afterwards as may be, after hearing such evidence as the assessee may produce and such other evidence as the Assessing Officer may require on specified points, and after taking into account all relevant material which he has gathered, the Assessing Officer shall, by an order in writing, make an assessment of the total income .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... erwise provided in this sub-section, the acknowledgement of the return shall be deemed to be an intimation under this sub-section where either no sum is payable by the assessee or no refund is due to him : Provided further that no intimation under this sub-section shall be sent after the expiry of 4[one year from the end of the financial year in which the return is made :] 5[Provided also that where the return made is in respect of the income first assessable in the assessment year commencing on the 1st day of April, 1999, such intimation may be sent at any time up to the 31st day of March, 2002.] (1A) 6[Omitted by the Finance Act, 1999, w.e.f. 1-6-1999.] (1B) 7[Omitted by the Finance Act, 1999, w.e.f. 1-6-1999.]" 19. Substituted by the Finance Act, 2008, w.e.f. 1-4-2008. Prior to its substitution, it was read as under: "Provided that no notice under 10[clause (ii)] shall be served on the assessee after the expiry of twelve months from the end of the month in which the return is furnished." 20. Substituted vide Finance (No.2) Act, 2009, w.e.f. 1-4-2009, before it was read as, "2009". Further substituted vide Finance Act, 2010 with effect from the 1st day of .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

..... " 27. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018. before it was read as, “and interest” 28. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018. before it was read as, “and interest” 29. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018. before it was read as, “or interest” 30. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018. before it was read as, “or interest” 31. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018. before it was read as, “25[(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary before the expiry of the period specified in the second proviso to sub-section (1), where a notice has been issued to the assessee under sub-section (2) : Provided that such return shall be processed before the issuance of an order under sub-section (3).]” 32. Substituted vide THE FINANCE ACT, 2017 w.e.f. 1st day of June, 2016, before it was read as, “On the day specified in the notice,- (i) issued under clause (i) of sub-section (2), or as soon afterwards as may be .....

X X   X X   Extracts   X X   X X

Login / Subscribe to Access Full Page

Section 143 - Assessment - Income-tax Act, 1961

X X   X X   Extracts   X X   X X

  1. Notification No. 79/2020 - Dated: 25-9-2020 - CBDT authorises the Assistant Commissioner/Deputy Commissioner of Income-tax (National e-Assessment Centre)
  2. Notification No. 76/2020 - Dated: 25-9-2020 - Faceless Appeal Scheme, 2020.
  3. Notification No. F. No.173/165/2020 -ITA-I - Dated: 14-8-2020 - Guidelines for the implementation of Faceless Assessment Scheme, 2019
  4. Notification No. 61/2020 - Dated: 13-8-2020 - Amendment in Notification No. S.O 3265 (E) dated the 12th September, 2019
  5. Notification No. 60/2020 - Dated: 13-8-2020 - Amendments in the E-assessment Scheme, 2019
  6. Notification No. 18/2020 - Dated: 18-3-2020 - Direct Tax Vivad se Vishwas Rules, 2020
  7. Notification No. 65/2019 - Dated: 13-9-2019 - CBDT authorises that the Assistant Commissioner of Income-tax (e-Verification), having headquarter at Delhi, to act as prescribed Income-tax Authority
  8. Notification No. 62/2019 - Dated: 12-9-2019 - Central Government makes the directions giving effect to the E-assessment Scheme, 2019
  9. Notification No. 61/2019 - Dated: 12-9-2019 - E-assessment Scheme, 2019.
  10. Notification No. F. No. 225/157/2017/ITA.II - Dated: 23-6-2017 - Issue of notices under section 143(2) of Income-tax Act, 1961 in revised format-regd.
  11. Notification No. 4/2017 - Dated: 3-4-2017 - Procedure, Formats and Standards for ensuring secured transmission of electronic communication - introduction of E-Proceeding for communication between the Income Tax Department and Assessee-...
  12. Notification No. 105/2016 - Dated: 16-11-2016 - Income–tax (31st Amendment) Rules, 2016 - Prescribes Income Tax Authority to issue notice u/s 143(2) for scrutiny / regular assessment. [Assessment officer (AO) is already authorized to issue...
  13. Notification No. 2/2016 - Dated: 3-2-2016 - Procedure, Formats and Standards for ensuring secured transmission of electronic communication
  14. Notification No. 3/2012 - Dated: 4-1-2012 - Assessment - General - Specified provisions of the Act which shall apply to Centralised Processing of Returns Scheme, 2011.
  15. Notification No. 2/2012 - Dated: 4-1-2012 - Centralised Processing of Returns Scheme, 2011.
  16. Notification No. 301 - Dated: 20-7-1977 - Central Board of Direct Taxes hereby direct that the value of a partner's right to share the profits of the firm without the right to share the assets
  17. Notification No. S.O. 1875 - Dated: 22-6-2009 - Notify the "Bal Vidya Prasarak Mandal Near CBS, old Agra Road, Nashik" u/s 10(23C)(vi)
  18. Notification No. S.O.2044 - Dated: 4-6-1979 - Supersedes Notification No. 2381 (F. No. 279/42/ 77-ITJ), dated the 7th July, 1979
  19. Notification No. 2133 - Dated: 7-7-1978 - Central Board of Direct Taxes, having regard to the nature of the cases, the complexities involved and other relevant considerations, hereby directs that any assessee aggrieved by any of the...
  1. Part A of Income-tax Act, 1961
  2. Section 92CD - Effect to advance pricing agreement.
  3. Section 90A - Adoption by Central Government of agreements between specified associations for double taxation relief
  4. Section 90 - Agreement with foreign countries or specified territories
  5. Section 9 - Act not to apply in certain cases
  6. Section 80IE - Special provisions in respect of certain undertakings in North-Eastern States
  7. Section 80ID - Deduction in respect of profits and gains from business of hotels and convention centres in specified area
  8. Section 80IC - Special provisions in respect of certain undertakings or enterprises in certain special category States
  9. Section 80IB - Deduction in respect of profits and gains from certain industrial undertakings other than infrastructure development undertakings
  10. Section 80IAB - Deductions in respect of profits and gains by an undertaking or enterprise engaged in development of Special Economic Zone
  11. Section 80IA - Deductions in respect of profits and gains from industrial undertakings or enterprises engaged in infrastructure development, etc.
  12. Section 44BBB - Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects
  13. Section 44BB - Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils
  14. Section 35 - Expenditure on scientific research
  15. Section 32A - Investment allowance
  16. Section 272A - Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.
  17. Section 271 - Failure to furnish returns, comply with notices, concealment of income, etc
  18. Section 270AA - Immunity from imposition of penalty, etc.
  19. Section 270A - Penalty for under-reporting and misreporting of income.
  20. Section 253 - Appeals to the Appellate Tribunal
  21. Section 246A - Appealable orders before Commissioner (Appeals)
  22. Section 246 - Appealable orders
  23. Section 244A - Interest on refunds
  24. Section 241A - Withholding of refund in certain cases.
  25. Section 234D - Interest on excess refund
  26. Section 234B - Interest for defaults in payment of advance tax
  27. Section 234A - Interest for defaults in furnishing return of income
  28. Section 2(1) to 2(15) - Definitions [Clause (1) to Clause (15)] - "Advance Tax" to "Charitable Purpose"
  29. Section 187 - Change in constitution of a firm
  30. Section 171 - Assessment after partition of a Hindu undivided family
  31. Section 158BC - Procedure for block assessment
  32. Section 158BB - Computation of undisclosed income of the block period
  33. Section 156 - Notice of demand
  34. Section 155 - Other amendments
  35. Section 154 - Rectification of mistake
  36. Section 153C - Assessment of income of any other person
  37. Section 153 - Time limit for completion of assessment, reassessment and recomputation.
  38. Section 148 - Issue of notice where income has escaped assessment
  39. Section 147 - Income escaping assessment
  40. Section 144 - Best judgment assessment
  41. Section 142 - Inquiry before assessment
  42. Section 140A - Self-assessment
  43. Section 139 - Return of income
  44. Section 124 - Jurisdiction of Assessing Officers
  45. Section 119 - Instructions to subordinate authorities
  46. Section 115JAA - Tax credit in respect of tax paid on deemed income relating to certain companies
  47. Section 10AA - Special provisions in respect of newly established Units in Special Economic Zones.
  48. Section 10(17A) to 10(23C) - Incomes not included in total income [Clause (17A) to Clause (23C)]
  49. Rule 2 - Definitions
  50. Rule 12E - Prescribed authority under sub-section (2) of section 143
  51. Para 2 - Definitions
  52. Form No. 26AS - Annual Information Statement
  53. Form No. 16A - Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source
  54. Form No. 16 - Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary
  55. Manual - REGULAR/SCRUTINY ASSESSMENT UNDER SECTION 143(2)/143(3)
  56. Manual - NEW SCHEME OF PROCESSING OF RETURNS UNDER SECTION 143(1)
  57. Manual - Section 200A - Processing of statements of tax deducted at source
  58. Manual - Section 44BBB - Special provision for computing profits and gains of foreign companies engaged in the business of civil construction
  59. Manual - Section 44BB - Special provision for computing profits and gains in connection with the business of exploration etc. of mineral oils

 

← Previous Next →

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||