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Return, Appeal and Assessment Summery

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.

D. Revision of Return u/s 114


E. Audit u/s 177

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)

Return, Appeal and Assessment Summery

Assessment
Assessment

Sec.

Normal Assessment

120

Best Judgment

121

Amendments (reopening / Additional)

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

Expiation is required within 60


days of service of notice.

Income shall be assessed within


1 year from the end of Financial
Year in which the decision by
that court is made.

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