TMI BlogSelf-reporting of tax basesX X X X Extracts X X X X X X X X Extracts X X X X ..... sions of this Code; (vii) any person who derives any income from special sources and is liable to pay income-tax thereon; and (viii) any other person, if his gross total income from ordinary sources exceeds the threshold limit; (b) in relation to dividend distributed, be the following:- (i) a company resident in India; and (ii) a mutual fund; (c) in relation to net wealth, be an individual, a Hindu undivided family or a private discretionary trust, if their net wealth exceeds the maximum amount which is not liable to wealth-tax. (3) The return of tax bases referred to in sub-section (1) shall be a return in respect of the tax bases of the person referred to in sub-section (2) or the tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion (1) of section 152 has been served on him. (8) The Assessing Officer may, if he finds that the return has not been furnished by any person in the prescribed form and manner or does not contain the particulars, as required under sub-section (4), intimate to such person the deficiency and allow an opportunity to such person to remove the deficiency within thirty days from the service of the intimation. (9) The Assessing Officer shall treat the return filed by a person as invalid, if the deficiency referred to in sub-section (8) is not removed within the time allowed and the provisions of the Code shall apply as if the person had failed to furnish the return. (10) The return of tax bases of a person specified in column (2) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Principal officer of the company (7) Any other company (a) Managing director of the company, or (b) any director of the company if there is no managing director or the managing director, for any unavoidable reason is not able to sign and verify the return. (8) Firm (a) managing partner of the firm; or (b) any partner (not being a minor) of the firm if there is no managing partner or the managing partner, for any unavoidable reason, is not able to sign and verify the return (9) Limited liability partnership (a) designated partner of the limited liability partnership; or (b) any partner (not being a minor) of the limited liability partnership if there is no designated partner or th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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