Professional Documents
Culture Documents
Return
A. Who is required to file a return?
What is meant by complete return?
B. Who is required to file a wealth statement?
Every resident individual having income under NTR or FTR.
Member of an AOP.
C. Time of filing of Return
Person / Date
Individual (NTR)
AOP
(NTR)
IND/AOP (FTR)
Companies
31st of August
Salaried
30th of September
Non-Salaried
AOP
31st of December
YE = 1July to 31Dec
YE=1Jan to 30June
FTR
The commissioner may ask to file a return of income within 30days for the last 5 years
Under certain circumstances the commissioner may ask to file a return of income for less than 12
months.
Notice within 15days shall be given to commissioner for discontinuing business. If notice is not
given then commissioner may give notice to him to file return.
An assessee can apply for extension.
Appeals
Appeal
Time of
Appeal
Time with
Authority
Commissioner
30 days
120 days
Appellate Tribunal
60 days
6 months
High Court
90 days
during an appeal
before an authority
ADR
90 days
Documents
Form of appeal
Ground of appeal
Copy of assessment order / notice
Power of attorney
Application fee challan
All above plus
Copy of commissioner (appeal
decision)
Assessment
Assessment
Sec.
Normal Assessment
120
Best Judgment
121
Further Amendments
Revision by
Commissioner
Revision by Chief
Commissioner
Provisional
Provisional
Relating to Disputed
property
122
122
Circumstances
If return is complete
Dont file FTR Statement
Dont file Wealth Statement
Dont produce documents required
Loss to revenue by:
Misclassification of income
Incorrect payment of tax
Incorrect claim of relief
- Do-
Applied by Assessee or by
commissioner himself.
If an order was prejudicial to the
person.
Commissioner has power to issue
lower rate or exemption certificate, it
122B this is not issued by commissioner then
chief commissioner can issue this
letter.
Dont file income statement
Dont file Wealth Statement (WS)
122C
Dont give explanation of source of
assets declared in WS
When concealed assets are
123
impounded by any government
agency.
If property is disputed in any Civil
Court.
125
Time
N/A
Within 5 years after the end of
tax year to which it relates.
Within 5 years after the end of
financial year in which original
assessment has or treated to be
issued.
Later of :
Within 5 years after the end
of financial year in which
original assessment has or
treated to be issued.
OR
1 year from the end of
financial year in which the
amendment was made.
122
A