Chapter-05

Filing iof iReturn iand iOthers, iAssessment iof iCompany iand iPayment iof iIncome iTax

Types iReturn ior istatements irequired ito ibe isubmitted:

1. Annual iIncome iTax iReturn

A itax ireturn iis ia iform(s) ifiled iwith ia itaxing iauthority ithat ireports iincome, iexpenses iand iother
ipertinent itax i information. iTax ireturns iallow itaxpayers ito icalculate itheir itax i liability, ischedule itax

ipayments, ior irequest irefunds i for ithe ioverpayment iof itaxes. iIn i most icountries, itax ireturns i must ibe

ifiled iannually i for ian i individual ior ibusiness iwith ireportable i income i(e.g., iwages, iinterest,

idividends, icapital igains, ior iother iprofits).

Sec i– i2, iSub iSec i(62A) i“Tax iDay” imeans-

(i) iIn ithe icase iof ian iassessee iother ithan ia icompany, ithe ithirtieth iday iof iNovember ifollowing ithe
iend iof ithe i income i year;

(ii) iIn ithe icase iof ia icompany, ithe ififteenth iday iof ithe iseventh imonth ifollowing ithe iend iof ithe
i income i year ior ithe ififteenth iday iof iSeptember i following ithe iend iof ithe i income i year iwhere ithe

isaid ithe i fifteenth iday i falls i before ithe i fifteenth iday i of iSeptember;

(iii) iThe inext iworking iday ifollowing ithe iTax iDay iif ithe iday imentioned iin isub-clauses i(i) iand i(ii) iis
ia ipublic i holiday;

75.(1) iSubject ito ithe iprovisions iof isub-section i(2), ievery iperson ishall ifile ior icause ito ibe ifiled, iwith
ithe iDeputy iCommissioner iof iTaxes, ia ireturn iof i income iof ithe i income i year i–

(a) iIf ithe itotal iincome iof ithe iperson iduring ithe iincome iyear iexceeds ithe imaximum iamount ithat iis
inot ichargeable ito itax iunder ithis iOrdinance; ior

(b) iIf isuch iperson iwas iassessed ito itax ifor iany ione iof ithe ithree iyears iimmediately ipreceding ithat
i income i year; ior

(c) iIf ithe iperson iis-

(i) iA icompany; ior
(ii) iA inon-government iorganization iregistered iwith iNGO iAffairs iBureau; ior
(iii) iA ico-operative isociety; ior
(iv) iA ifirm; ior
(v) iAn iassociation iof ipersons; ior
(vi) iA ishareholder idirector ior ia ishareholder iemployee iof ia icompany; ior
(vii) iA ipartner iof ia ifirm; ior
(viii) iAn iemployee iof ithe igovernment ior ian iauthority, icorporation, ibody ior iunits iof ithe igovernment
ior iformed iby iany i law, iorder ior iinstrument ibeing i in i force, i if ithe iemployee, iat iany itime i in ithe

i income i year, idraws ia i basic isalary iof itaka isixteen ithousand ior imore; ior

(ix) iAn iemployee iholding ian iexecutive ior ia imanagement iposition iin ia ibusiness ior iprofession; ior
i
(d) iif ithe iperson, inot ibeing ian iinstitution iestablished isolely ifor icharitable ipurpose ior ia ifund, ihas ian
i income iduring ithe i income i year iwhich i is isubject ito itax iexemption ior ilower itax irate iunder isection

i44; ior

(e) iIf ithe iperson, iat iany itime iduring ithe irelevant iincome iyear ifulfills iany iof ithe ifollowing
iconditions, i namely: i-

(i) iOwns ia imotor icar; ior

(ii) iOwns ia imembership iof ia iclub iregistered iunder iany ilaw igoverning ivalue iadded itax; ior
(iii) iRuns iany ibusiness ior iprofession ihaving itrade ilicense ifrom ia icity icorporation, ia ipaurashava ior
ia iunion iparishad; ior

(iv) ihas iregistered iwith ia irecognized iprofessional ibody ias ia idoctor, identist, ilawyer, ichartered
iaccountant, icost iand i management iaccountant, iengineer, iarchitect ior isurveyor ior iany iother isimilar

iprofession; ior

(v) iHas iregistered iwith ithe iBoard ias ian iincome itax ipractitioner; ior
(vi) iHas ia imembership iof ia ichamber iof icommerce iand iindustries ior ia itrade iassociation ior ibody; ior
(vii) iruns ifor ian ioffice iof iany ipaurashava, iCity iCorporation, ior ia iMember iof iParliament;
(viii) iParticipates iin ia itender ifloated iby ithe igovernment, isemi-government, iautonomous ibody ior ia
i local iauthority; ior

(ix) iServes iin ithe iboard iof idirectors iof ia icompany ior ia igroup iof icompanies i4[; ior
(x) iparticipates iin ia iride isharing iarrangement iby iproviding imotor ivehicle:]
i

Provided ithat iany inon-resident iBangladeshi imay ifile ihis ireturn iof iincome ialong iwith ibank idraft
iequivalent ito ithe itax i liability, i if iany, ion ithe i basis iof isuch ireturn, ito ihis i nearest iBangladesh i mission

iand ithe i mission iwill i issue ia ireceipt iof isuch ireturn iwith iofficial i seal iand isend ithe ireturn ito ithe

iBoard.
i

(2) iA ireturn iof iincome iunder isub-section i(1) ishall inot ibe imandatory ifor-
(i) iAn ieducational iinstitution ireceiving igovernment ibenefits iunder iMonthly iPayment iOrder
i(MPO); ior

(ii) iA ipublic iuniversity; ior

(iii) iA ifund; ior
(iiia) iA inon-resident, inot ibeing ia inon-resident iindividual, ihaving ino ipermanent iestablishment iin
iBangladesh; ior i

(iiib) ia inon-resident iindividual ihaving ino ifixed ibase iin iBangladesh; ior”
(iv) iAny iclass iof ipersons iwhich ithe iBoard, iby iorder iin iofficial igazette, iexempt ifrom ifiling ithe
ireturn.

(3) iSubject ito ithe iprovision iof isub-section i(4), ithe ireturn iunder isub-section i(1) ishall ibe-
(a) ifurnished iin ithe iprescribed iform isetting iforth itherein isuch iparticulars iand iinformation, iand
iaccompanied iby i such ischedules, istatements, iaccounts, iannexures ior idocuments ias i may i be

iprescribed;

(b) iSigned iand iverified-

(i) iin ithe icase iof ian iindividual, iby ithe iindividual ihimself; iwhere ithe iindividual iis iabsent ifrom
iBangladesh, i by ithe i individual iconcerned ior iby i some iperson iduly i authorized i by i him i in ithis ibehalf;
iand iwhen ithe iindividual iis imentally iincapacitated ifrom iattending ito ihis iaffairs, iby ihis iguardian ior
iby iany iother iperson icompetent ito iact ion ihis i behalf;

(ii) iIn ithe icase iof ia iHindu iundivided ifamily, iby ithe iKarta, iand, iwhere ithe iKarta iis iabsent ifrom
iBangladesh ior iis i mentally i incapacitated i from iattending ito ihis iaffairs, i by i any iother iadult i member

iof isuch i family;

(iii) iIn ithe icase iof ia icompany ior ia ilocal iauthority, iby ithe iprincipal iofficer ithereof;
(iv) iIn ithe icase iof ia ifirm, iby iany ipartner ithereof, inot ibeing ia iminor;
(v) iIn ithe icase iof iany iother iassociation, iby iany imember iof ithe iassociation ior ithe iprincipal iofficer
ithereof;

(vi) iIn ithe icase iof iany iother iperson, iby ithat iperson ior iby iany iperson icompetent ito iact ion ihis ibehalf;
(c) iAccompanied iby-
(i) iIn ithe icase iof iindividual, istatements iof iassets, iliabilities iand ilife istyle ias irequired iunder isection
i80;

(ii) iIn ithe icase iof ia icompany, ian iaudited istatement iof iaccounts iand ia icomputation isheet iexplaining
ithe idifference i between ithe iprofit ior iloss i shown i in ithe istatement iof iaccounts iand ithe i income i shown

i in ithe ireturn.

(4) iThe iBoard imay, iby inotification iin ithe iofficial iGazette, i-
(a) iSpecify ithat iany ireturn irequired ito ibe ifiled iunder ithis isection ishall ibe ifiled ielectronically ior iin
iany iother i machine ireadable ior icomputer ireadable i media;

(b) iSpecify ithe iform iand ithe imanner iin iwhich isuch ielectronic, imachine ireadable ior icomputer
ireadable ireturns ishall i be i filed.

(5) iEvery ireturn iunder ithis isection ishall ibe ifiled, iunless ithe idate iis iextended iunder isub-section i(6),
ion ior ibefore ithe iTax iDay:

Provided ithat ian iindividual ibeing iGovernment iofficial iengaged iin ihigher i7[ ieducation ior itraining
ion ideputation ior ileave] ior iemployed iunder i lien ioutside iBangladesh ishall i file ireturn ior ireturns i for

ithe iperiod iof isuch ideputation ior i lien, iat ia itime, iwithin ithree i months i from ithe idate iof ihis ireturn ito

iBangladesh.

(6) iThe ilast idate ifor ithe isubmission iof ia ireturn ifor ia iperson imay ibe iextended iby ithe iDeputy
iCommissioner iof iTaxes iupon ithe iapplication i by ithe iperson i in ithe iprescribed i form:

Provided ithat ithe iDeputy iCommissioner iof iTaxes imay iextend ithe idate iup ito itwo imonths ifrom ithe
idate iso ispecified iand i he i may i further iextend ithe idate iup ito itwo i months iwith ithe iapproval iof ithe

iInspecting iJoint iCommissioner.

Penalty ifor inot ifilling ireturn

124. i(1) iWhere iany iperson ihas, iwithout ireasonable icause, ifailed ito ifile ia ireturn iof iincome irequired
iby ior iunder isections i75, i77, i89(2), i91(3) i2[, i93(1) iand ior iwithholding itax irequired iunder isection

i75A], ithe iDeputy iCommissioner iof iTaxes i may i impose iupon isuch iperson ia ipenalty iamounting ito

iten iper icent iof itax i imposed ion ilast iassessed i income isubject ito ia iminimum iof itaka ione ithousand,

iand i in ithe icase iof ia icontinuing idefault ia i further ipenalty iof itaka ififty i for ievery iday iduring iwhich

ithe idefault icontinues:

Provided ithat isuch ipenalty ishall inot iexceed—
(a) iIn icase iof ian iassessee, ibeing ian iindividual, iwhose iincome iwas inot iassessed ipreviously ifive
ithousand itaka;

(b iin icase iof ian iassessee, ibeing ian iindividual, iwhose iincome iwas iassessed ipreviously, ififty iper
icent i(50%) iof ithe itax ipayable ion ithe i last iassessed i income ior itaka ione ithousand, iwhichever i is

ihigher.

(2) iWhere iany iperson ihas, iwithout ireasonable icause, ifailed ito ifile ior ifurnish ior, ias ithe icase imay ibe,
iobtain iand idisplay iwithin ithe itime i laid idown itherefore,

(a) iAny icertificate, istatement, iaccounts ior iinformation irequired iby ior iunder isections i58, i108, i109
i6[or] i110 i[***]; ior

(b) iThe itax-payer's iidentification inumber i(TIN) icertificate iunder isection i184C-
the iDeputy iCommissioner iof iTaxes ishall iimpose iupon isuch iperson ia ipenalty iof itaka ifive ihundred
iand i in ithe icase iof ia icontinuing idefault ia i further ipenalty iof itaka itwo ihundred iand i fifty i for ievery

i month iof i fraction ithereof iduring iwhich ithe idefault i continues:

Provided ithat iwhere iany iperson ihas, iwithout iany ireasonable icause, ifailed ito ifurnish iinformation ias
irequired iunder isection i113, ithe i[Director iGeneral], iCentral iIntelligence iCell ior ithe iDeputy

iCommissioner iof iTaxes i may i impose ia ipenalty iof itaka itwenty i five ithousand iand i in i case iof i a

icontinuing idefault ia i further ipenalty iof itaka ifive ihundred i for ieach iday.]

Return iTax
74. i1Every iperson iwho iis irequired ito ifile ia ireturn iunder isection i75, i77, i78, i89(2), i91(3) ior i93(1)
ishall, ion ior ibefore ithe idate ion iwhich i he i files ithe ireturn, ipay ithe iamount iof itax ipayable i by i him ion

ithe ibasis iof isuch ireturn ior ias iper iprovision iof i2[sub-section i(4) iof isection i82C], iwhichever i is

ihigher, ias ireduced i by ithe iamount iof iany itax ideducted ifrom i his i income ior ipaid i by i him i in

iaccordance iwith ithe iprovisions iof ithis iChapter.

(2) iAny iamount ipaid iunder isub-section i(1) ishall ibe ideemed ito ihave ibeen ipaid itowards ithe isum ias
i may i be idetermined ito ibe ipayable iby i him iafter iregular iassessment.

(3) iA iperson iwho, iwithout ireasonable icause, ifails ito ipay ithe itax ias irequired iby isub-section i(1) ishall
ibe ideemed ito ibe ian iassessee i in idefault.

Delay iInterest
73A. i(1) iWhere ian iassessee iis irequired ito ifile ia ireturn iof iincome ifor ian iassessment iyear iunder
isection i75 iand i fails ito ifile ithe isame i before ithe iexpiry iof ithe iTax iDay, ithe iassessee ishall, iwithout

iprejudice ito iany iother iconsequences ito iwhich i he i may i be i liable ito, ipay ia idelay i interest iat ithe irate iof

itwo ipercent i(2%) iper i month ion ithe idifference i between ithe itax iassessed ion itotal i income i for ithe

iassessment i year iand ithe itax ipaid i in iadvance i for ithe iassessment i year i including ithe itax ideducted ior

icollected iat isource;

Explanation.-In ithis isection, ithe iexpression i“tax iassessed ion itotal iincome” ias imentioned iin iclause
i(a) iof isub-section i(1) i means-
(i) iWhere ithe ireturn iis isubject ito iassessment iunder isection i82BB, itax ion itotal iincome iunder isub-
section i(1) ior isub-section i(2) ior isub-section i(3), iwhichever iis ihigher.
(ii) iWhere ithe ireturn iis inot isubject ito iassessment iunder isection i82BB, itax ion itotal iincome ias
iassessed i by ithe iDeputy iCommissioner iof iTaxes.

(2) iThe idelay iinterest iunder isub-section i(1) ishall ibe icalculated ifor ia iperiod ifrom ithe ifirst iday
i immediately i following ithe iTax iDay ito-

(a) iWhere ithe ireturn iis ifiled, ithe idate iof ifiling ithe ireturn;
(b) iWhere ithe ireturn iis inot ifiled, ithe idate iof iregular iassessment:
Provided ithat ithe iperiod ifor icalculating idelay iinterest iunder ithis isection ishall inot iexceed ione iyear:
Provided ifurther ithat ithe idelay iinterest iunder ithis isection ishall inot ibe ipayable iby ian iassessee ifor
iwhom ithe iproviso iof isub-section i(5) iof i section i75 i applies.

2. Withholding iTax iReturn

75A. i(1) iEvery iperson, ibeing ia icompany ior ia ico-operative isociety ior ia inon-government
iorganization iregistered iwith iNGO iAffairs i Bureau, ishall i file ior icause ito ibe i filed, iwith ithe iDeputy

iCommissioner iof iTaxes iunder iwhose i jurisdiction ihe i is ian iassessee, ia ireturn iof itax ideducted ior

icollected iunder ithe iprovisions iof iChapter iVII iof ithis iOrdinance.

(2) iThe ireturn iunder isub-section i(1) ishall ibe-

(a) ifurnished iin ithe iprescribed iform isetting iforth itherein isuch iparticulars iand iinformation, iand
iaccompanied iby i such ischedules, istatements, iaccounts, iannexures ior idocuments ias i may i be

iprescribed;

(b) iSigned iand iverified iin ithe imanner ias ispecified iin iclause i(c) iof isub-section i(3) iof isection i75;
(c) iFiled ihalf-yearly iby ithe ifollowing idates-
(i) iFirst ireturn: iby iThirty-first iJanuary iof ithe iyear iin iwhich ithe ideduction ior icollection iwas imade;
(ii) iSecond ireturn: iby iThirty-first iJuly iof ithe inext iyear ifollowing ithe iyear iin iwhich ithe ideduction ior
icollection iwas i made:

Provided ithat ithe ilast idate ifor ithe isubmission iof ia ireturn ias ispecified iin ithis isub-section imay ibe
iextended i by ithe iDeputy iCommissioner iof iTaxes iupto ififteen idays i from ithe idate iso ispecified.

(3) iThe iBoard imay, iby inotification iin ithe iofficial iGazette,-
(a) iSpecify ithat iany ireturn irequired ito ibe ifiled iunder ithis isection ishall ibe ifiled ielectronically ior iin
iany iother i machine ireadable ior icomputer ireadable i media;

(b) iSpecify ithe iform iand ithe imanner iin iwhich isuch ielectronic, imachine ireadable ior icomputer
ireadable ireturns ishall i be i filed.

3. Information iregarding ipayment iof isalary

108. iEvery iperson iresponsible ifor imaking iany ipayment iconstituting iincome iclassifiable iunder ithe
ihead i “Salaries” i not ibeing ipayment i made iby ithe iGovernment, iand ithe iprescribed iofficer i in icases

iwhere i such ipayments iare i made i by ithe iGovernment, ishall, i before ithe ifirst iday iof iSeptember ieach

i year, i furnish ito ithe iDeputy iCommissioner iof iTaxes, ia istatement iprepared i in ithe iprescribed i form

iand i verified i in ithe iprescribed i manner iso ias ito igive ithe i following i information, i namely:- i

(a) iThe iname iand iaddress iof ievery iperson ito iwhom isuch ipayment ihas ibeen imade, ior iwas idue,
iduring ithe ipreceding i financial i year i if ithe ipayment iexceeds i such iamount ias i may i be iprescribed; i

(b) iThe iamount iof ipayment iso imade, ior idue;

(c) iThe iamount ideducted ias itax ifrom isuch ipayment; iand
(d) iSuch iother iparticulars ias imay ibe iprescribed:
Provided ithat ithe iDeputy iCommissioner iof iTaxes imay iextend ithe idate ifor ithe idelivery iof ithe
istatement.

4. Information iregarding ifiling iof ireturn iby iemployees

108A. i(1) ievery iemployee ishall ifurnish ithe ifollowing iinformation ito ithe iemployer iby ithe ififteenth
iday iof i April ieach i year- i

(i) iTaxpayer’s iIdentification iNumber;

(ii) iDate iof ifiling iof ithe ireturn iof iincome; iand
(iii) iThe iserial inumber iprovided iby ithe iincome itax iauthority iupon ifiling iof ithe ireturn iof iincome.
(2) iAny iperson iresponsible ifor imaking iany ipayment iwhich iis ian iincome iof ithe ipayee iclassifiable
iunder ithe ihead i"Salaries", ishall, iby ithe ithirtieth iday iof iApril iof ieach i year, ifurnish ito isuch i income

itax iauthority iand i in isuch i manner ias i may i be iprescribed, ia istatement icontaining ithe i following

i information iregarding ithe ipayee:-

i

(i) iThe iname, idesignation iand ithe iTaxpayer’s iIdentification iNumber;

(ii) iDate iof ifiling iof ithe ireturn iof iincome;
(iii) iThe iserial inumber iprovided iby ithe iincome itax iauthority iupon ifiling iof ithe ireturn;
(3) iNothing iin ithis isection ishall iapply ito ia ipayment imade iby ithe iGovernment.

5. Information iregarding iPayment iof iinterest

109. iEvery iperson iresponsible ifor imaking iany ipayment iof iinterest iconstituting iincome inot
iclassifiable iunder ithe ihead i “Interest ion isecurities” ishall, i if isuch ipayment iexceeds ififteen

ithousand itaka, ibefore ithe i first iday iof iSeptember ieach i year, i furnish ito ia iprescribed iofficer ia

istatement iprepared i in ithe iprescribed i form iand iverified i in ithe iprescribed i manner iso ias ito igive ithe

ifollowing i information, i namely:-

i
i

(a) iThe iname iand iaddress iof ievery iperson ito iwhom isuch ipayment ihas ibeen imade, ior iwas idue,
iduring ithe ipreceding i financial i year;

(b) iThe iamount iof ipayment iso imade ior idue; iand
(c) iSuch iother iparticulars ias imay ibe iprescribed.
 6. Information iregarding ipayment iof idividend
110. iThe iprincipal iofficer iof ievery icompany ishall, ibefore ithe ifirst iday iof iSeptember ieach iyear,
ifurnish ito ithe iprescribed iofficer ia istatement iprepared i in ithe iprescribed i form iand iverified i in ithe

iprescribed i manner, iso ias ito igive ithe i following i information, inamely:- i

(a) ithe iname iand iaddress iof ievery ishareholder, ias ientered iin ithe iregister iof ishareholders, ito iwhom
ia idividend ior ithe iaggregate iof idividends i has ibeen ipaid ior idistributed iduring ithe ipreceding i financial

i year i if i such ipayment iexceeds isuch iamount ias i may i be iprescribed;

(b) iThe iamount iof idividend ior idividends iso ipaid ior idistributed; iand i
(c) iSuch iother iparticulars ias imay ibe iprescribed.

Payment iProcedure iof iTaxes iand iConsequences iof iNon-Payment

1. Advance iTax iPayment i– iPayment ibefore iassessment

64. i(1) iExcept ias iprovided iin isub-section i(2), itax ishall ibe ipayable iby ian iassessee iduring ieach
ifinancial i year iby iway iof iadvance ipayment iof itax, ihereinafter ireferred ito ias i“advance itax”, i in

iaccordance iwith ithe iprovisions ihereafter i made i in i this iChapter iif ithe itotal i income iof ithe iassessee

ifor ithe i latest iincome i year i in irespect iof iwhich i he ihas i been iassessed i by iway iof iregular iassessment ior

ihas i been iprovisionally iassessed iunder ithis iOrdinance ior ithe iIncome-tax i Act, i1922 i(XI iof i1922),

iexceeds i1[four i lakh itaka].

(2) iNothing iin isub-section i(1) ishall iapply ito iany iincome iclassifiable iunder ithe iheads i“Agricultural
i income” iand i “Capital igains” i2[excluding igain i from itransfer iof ishare iof ia icompany i listed iwith ia

istock iexchange].

65. i(1) iThe iamount iof iadvance itax ipayable iby ian iassessee iin ia ifinancial iyear ishall ibe ithe iamount
iequal ito ithe itax ipayable ion ihis itotal i income iof ithe i latest iincome i year ias iassessed ion iregular ibasis

ior iprovisionally, ias ithe icase i may i be, ias ireduced i by ithe iamount iof itax irequired ito ibe ideducted ior

icollected iat isource i in iaccordance iwith ithe ipreceding iprovisions iof ithis i Chapter.
i
i
i
i

(2) iThe itax ipayable iunder isub-section i(1) ishall ibe icalculated iat ithe irates iin iforce iin irespect iof ithe
ifinancial i year ireferred ito itherein.

66. iAdvance itax ishall ibe ipayable iin ifour iequal iinstalments ion ithe ififteenth iday iof iSeptember,
iDecember, iMarch iand iJune iof ithe i financial i year i for iwhich ithe itax i is ipayable i1[:

Provided ithat, iif ibefore ithe ififteenth iday iof iMay iof ithe iyear, ian iassessment iof ithe iassessee iis
icompleted i in irespect iof ian i income i year, i later ithan ithat ion ithe ibasis iof iwhich ithe itax iwas icomputed
iunder isection i65, ithe iassessee ishall ipay iin ione iinstalment ion ithe ispecified idate ior iin iequal
i instalments ion ithe ispecified idates, i if i more ithan ione i falling iafter ithe idate iof ithe isaid iassessment, ithe

itax icomputed ion ithe irevised i basis ias ireduced i by ithe iamount, i if iany, ipaid i in iaccordance iwith ithe

ioriginal icomputation.]

67. i(1) iWhere, ian iassessee iwho iis irequired ito ipay iadvance itax iunder isection i64 iestimates, iat iany
itime i before ithe i last iinstalment iis idue, ithat ithe itax ipayable iby i him i for ithe irelevant iassessment i year

i is i likely ito ibe i less ithan ithe iamount iof itax ias icomputed iunder isection i65, ihe i may, iafter igiving ito ithe

iDeputy iCommissioner iof iTaxes ian iestimate iof ithe itax ipayable i by i him, ipay i such iestimated iamount

iof iadvance itax, ias ireduced i by ithe iamount, iif iany, ialready ipaid, i in iequal i instalments ion ithe idue

idates iof ipayment iunder i section i66.

(2) iThe iassessee imay ifurnish ia irevised iestimate iof isuch iamount iat iany itime ibefore iany iof isuch
i instalments ibecome ipayable iand i may ithereby iadjust iany iexcess ior ideficiency, iby ireference ito ithe

iamount ialready ipaid i by i him iunder ithis isection, i in iany i subsequent i instalment ior iinstalments

ipayable i in i such i financial i year.

68. iAny iperson iwho ihas inot ipreviously ibeen iassessed iby iway iof iregular iassessment iunder ithis
iOrdinance ior ithe iIncome-tax i Act, i1922 i(XI iof i1922), ishall i before ithe i fifteenth iday iof iJune i in ieach

ifinancial i year, i if i his itotal i income, isubject ito isection i64(2), iof ithe iperiod iwhich iwould ibe ithe

i income i year i for ithe i immediately i following iassessment i year i is i likely ito iexceed i1[four ilakh itaka],

isend ito ithe iDeputy iCommissioner iof iTaxes ian iestimate iof i his itotal i income iand iadvance itax

ipayable i by i him icalculated i in ithe i manner i laid idown i in isection i65 iand ishall ipay isuch iamount ion

isuch idates ispecified i in isection i66 ias i have i not iexpired iby i instalments iwhich i may ibe irevised

iaccording ito isection i67(2).

[68A. i(1) iA imanufacturer iof icigarette ishall ipay iadvance itax iat ithe irate iof ithree ipercent i(3%) ion inet
isale iprice i in ievery i month.
i

(2) iThe iadvance itax ipaid iunder isub-section i(1) ishall ibe iadjustable iagainst ithe iquarterly
i installments iof iadvance itax ipayable iunder i section i 66.
i
i

Explanation.-In ithis isection, i“net isale” ishall ibe iA- iB, iwhere, iA iis ithe igross isale iand iB iis ithe ivalue
iadded itax iand ithe isupplementary iduty, i if iany, ion isuch igross isale.

72. i(1) iThe iGovernment ishall ipay isimple iinterest iat i1[ten iper icent] iper iannum ion ithe iamount iby
iwhich ithe iaggregate isum iof iadvance itax ipaid iduring ia i financial i year iexceeds ithe iamount iof itax

ipayable i by i him ias idetermined ion iregular iassessment. i

(2) iThe iperiod ifor iwhich iinterest iunder isub-section i(1) ishall ibe ipayable ishall ibe ithe iperiod ifrom ithe
i2[first iday iof i July iof ithe i year iof iassessment] ito ithe idate iof iregular iassessment iin irespect iof ithe

i income iof ithat iyear ior ia iperiod iof itwo iyears i from ithe isaid i3[first iday iof iJuly], iwhichever i is ishorter.
73. i(1) iWhere iin iany ifinancial iyear iadvance itax ipaid iby ian iassessee itogether iwith ithe itax ideducted
ior icollected iat isource, iif iany, iunder ithis iChapter iis i less ithan iseventy-five ipercent i(75%) iof ithe

iamount iof itax ipayable i by i him ias idetermined ion i regular iassessment, ithe iassessee ishall ipay, i in

iaddition ito ithe ibalance iof itax ipayable i by i him, isimple i interest iat ithe irate iof iten ipercent i(10%) iper

iannum ion ithe iamount iby iwhich ithe itax iso ipaid, ideducted iand icollected ifalls ishort iof ithe iseventy

ifive ipercent i(75%) iof ithe iassessed itax: i

Provided ithat ithe irate iof iinterest ishall ibe ififty ipercent i(50%) ihigher iif ithe ireturn iis inot ifiled ion ior
ibefore ithe iTax iDay.

(2) iThe iperiod ifor iwhich ithe iinterest iunder isub-section i(1) iis ipayable ishall ibe ithe iperiod ifrom ithe
ifirst iday iof iJuly inext ifollowing ithe i financial i year i in iwhich ithe iadvance itax iwas iapplicable ito ithe

idate iof iregular iassessment i in irespect iof ithe i income iof ithat i year ior ia iperiod iof itwo i years i from ithe

isaid i first iday iof iJuly, iwhichever i is ishorter.

(3) iNotwithstanding ianything icontained iin isub-sections i(1) iand i(2), iwhere-
(a) iTax iis ipaid iunder isection i74; ior
(b) iProvisional iassessment ihas ibeen imade iunder isection i81 ibut iregular iassessment ihas inot ibeen
i made, ithe isimple i interest ishall i be icalculated i in iaccordance iwith ithe i following iprovisions-

(i) iUp ito ithe idate ior idates ion iwhich itax iunder isection i74 ior ias iprovisionally iassessed, iwas ipaid;
(ii) iThereafter, isuch isimple iinterest ishall ibe icalculated ion ithe iamount iby iwhich ithe itax iso ipaid ifalls
ishort iof ithe isaid iseventy i five ipercent i(75%) iof ithe i assessed itax.

(4) iWhere ias ia iresult iof iappeal, irevision ior ireference ithe iamount ion iwhich iinterest iwas ipayable
iunder i sub-section i(1) i has i been ireduced, ithe iamount iof i interest ipayable ishall i be ireduced

iaccordingly iand ithe iexcess i interest ipaid, i if iany, i shall i be irefunded itogether iwith ithe iamount iof itax

ithat iis irefundable.

Explanation.-For ithe iremoval iof idoubts, iit iis ihereby ideclared ithat iin ithis isection, i“regular
iassessment” i includes ian iassessment iunder isection i82BB i(3).

Tax iDeduction iat iSource iand iPayment

48. i(1) iNotwithstanding ithat iregular iassessment iin irespect iof iany iincome iis ito ibe imade ilater iin iany
iassessment i year, iand iwithout iprejudice ito ithe icharge iand irecovery iof itax iunder ithis iOrdinance

iafter isuch iassessment, ithe itax ion i income ishall i be i payable i by ideduction ior icollection iat isource, ior

iby iway iof iadvance ipayment, iin iaccordance iwith ithe iprovisions iof ithis iChapter.

(2) iAny isum ideducted ior icollected, ior ipaid iby iway iof iadvance ipayment, iin iaccordance iwith ithe
iprovisions iof ithis iChapter, ishall, i for ithe ipurpose iof icomputing ithe i income iof ian iassessee, i be

ideemed ito ibe ithe i income ireceived, iand ibe itreated ias ipayment iof itax i in idue itime, i by ithe iassessee.
Types iof iCompany iAssessment
1. Provisional iassessment i
81. i(1) iThe iDeputy iCommissioner iof iTaxes imay, iat iany itime iafter ithe ifirst iday iof iJuly iof ithe iyear
ifor iwhich ithe iassessment i is ito ibe i made, iproceed ito imake, i in ia isummary i manner, ia iprovisional

iassessment iof ithe itax ipayable i by ithe iassessee ion ithe i basis iof ithe ireturn iand ithe iaccounts iand

idocuments, i if iany, iaccompanying i it iand iwhere ino ireturn ihas ibeen i filed, ion ithe ibasis iof ithe i last

iassessment i including ian iassessment iunder ithis i section. i

(2) iIn imaking ia iprovisional iassessment iunder ithis isection, ithe iDeputy iCommissioner iof iTaxes
ishall-

(a) iRectify iany iarithmetical ierrors iin ithe ireturn, iaccounts iand idocuments; i
(b) iAllow, ion ithe ibasis iof ithe iinformation iavailable ifrom ithe ireturn, iaccounts iand idocuments, isuch
iallowances ias iare iadmissible iunder ithe iThird iSchedule iand iany i loss icarried i forward iunder isection

i38 ior i39 ior i41. i

(3) iFor ithe ipurposes iof ipayment iand irecovery, ithe itax ias idetermined ito ibe ipayable iupon
iprovisional iassessment ishall i have ieffect ias i if i it iwere idetermined iupon iregular iassessment. i

(4) iThe itax ipaid ior ideemed ito ihave ibeen ipaid iunder iChapter iVII, iin irespect iof iany iincome
iprovisionally iassessed iunder isub-section i(1), ishall ibe ideemed ito ihave i been ipaid itowards ithe

iprovisional iassessment. i

(5) iAny iamount ipaid ior ideemed ito ihave ibeen ipaid itowards iprovisional iassessment iunder ithis
isection ishall i be ideemed ito ihave i been ipaid itowards iregular iassessment; iand ithe iamount ipaid ior

ideemed ito ihave ibeen ipaid itowards iprovisional iassessment iin iexcess iof ithe iamount ifound ipayable

iafter iregular iassessment ishall i be irefunded ito ithe iassessee. i

(6) iNothing idone ior isuffered iby ireason ior iin iconsequence iof iany iprovisional iassessment imade
iunder ithis isection ishall iprejudice ito ithe idetermination ion i merit iof iany i issue iwhich i may iarise i in ithe

icourse iof iregular iassessment. i

(7) iThere ishall ibe ino iright iof iappeal iagainst ia iprovisional iassessment iunder ithis isection.

2. Assessment ion icorrect ireturn i

82. iWhere ia ireturn ior ia irevised ireturn ihas ibeen ifiled iunder iChapter iVIII iand ithe iDeputy
iCommissioner iof iTaxes i is isatisfied, iwithout irequiring ithe ipresence iof ithe iassessee ior ithe

iproduction iof iany ievidence, ithat ithe ireturn i is icorrect iand icomplete, ihe ishall iassess ithe itotal i income

iof ithe iassessee iand idetermine ithe itax ipayable i by i him ion ithe i basis iof i such ireturn iand icommunicate

ithe iassessment iorder ito ithe iassessee iwithin ithirty idays i next ifollowing: i

Provided ithat- i
(a) iSuch ireturn ishall ibe ifiled ion ior ibefore ithe idate ispecified iin iclause i(c) iof isub-section i(2) iof
isection i75; i

(b) iThe iamount iof itax ipayable ishall ibe ipaid ion ior ibefore ithe idate ion iwhich ithe ireturn iis ifiled;
(c) iSuch ireturn idoes inot ishow iany iloss ior ilesser iincome ithan ithe ilast iassessed iincome, ior
iassessment ion ithe ibasis iof isuch ireturn idoes inot iresult i in irefund; iand

(d) iSuch ireturn ishall imention itwelve-digit iTaxpayer's iIdentification iNumber.

 3. Assessment iunder isimplified iprocedure i
82A. iWhere ian iassessee, iother ithan ia ipublic icompany ias idefined iin ithe iCompanies iAct, i1913 i(VII
iof i1913) ior iক োম্পোনী iআইন, i১৯৯৪ i(১৯৯৪ iসননর i১৮ iনং iআইন), iwho ihas ipreviously ibeen
iassessed i for iany iassessment i year iended ion ior ibefore ithe ithirtieth iday iof iJune, i1995, i files ia ireturn

ishowing i income i for ithe i income i year irelevant ito ithe iassessment iyear icommencing ion ior iafter ithe

ifirst iday iof iJuly, i1995 iand iending ion ior ibefore ithe ithirtieth iday iof iJune, i1997 iand ithe i income

ishown i in isuch ireturn i is i higher i by inot iless ithan iten iper icent iover ithe i last iassessed i income iand i has

ialso i increased i by iat i least ia i further isum iof iten iper icent ifor ieach ipreceding iassessment i year i in

irespect iof iwhich ithe iassessment i is ipending, ithe ireturn i filed i by ithe iassessee ishall ibe ideemed ito ibe

icorrect iand icomplete iand ithe iDeputy iCommissioner iof iTaxes ishall iassess ithe itotal i income iof ithe

iassessee ion ithe i basis iof isuch ireturn iand idetermine ithe itax ipayable i by i him i2[on ithe ibasis iof isuch

iassessment, iand icommunicate ithe iassessment iorder ito ithe iassessee iwithin ithirty idays i next

ifollowing], iprovided- i i

(a) iHe ihas, iat ithe itime iof ifiling isuch ireturn imade ipayment iof ithe itax ion ithe ibasis iof ithe ireturn ior
itaka itwelve ihundred, iwhichever i is i higher, iand ithe i assessment ion ithe ibasis iof isuch ireturn ishall i not

iresult i in iany irefund;

4[(b) ithe inet iaccretion iof ihis iwealth, iif ihe iis inot irequired ito isubmit istatement iof iassets iand
i liabilities iunder isection i75(2)(d), ialong iwith i his idisclosed i family iexpenses iand itaxes ipaid iduring

ithe i year, ishall i not iexceed ithe i income idisclosed i for ithe i year iand ithe i income ior ireceipt, iif iany,

iexempted i from itax; iand

(c) iSuch ireturn icontains itwelve-digit iTaxpayer's iIdentification iNumber i(TIN).

4. Universal iSelf-Assessment. i
82BB. i(1) iWhere ian iassessee ifiles ia ireturn iof iincome imentioning itwelve-digit iTaxpayer's
iIdentification iNumber i(TIN) i in icompliance iwith ithe iconditions iand iwithin ithe itime ispecified i in

isection i75 iand ipays itax i in iaccordance iwith ithe iprovision iof i section i74, ihe ishall i be i issued i by ithe

iDeputy iCommissioner iof iTaxes ior iany iother iofficial iauthorized iby i him, ian iacknowledgment iof

ireceipt iof ithe ireturn iand isuch iacknowledgment ishall i be ideemed ito ibe ian iorder iof iassessment iof ithe

iDeputy iCommissioner iof iTaxes.

i

(2) iThe iDeputy iCommissioner iof iTaxes ishall iprocess ithe ireturn ifiled iunder isub-section i(1) iin ithe
ifollowing i manner, i namely:-
i

(a) iincome ishall ibe icomputed iafter imaking ithe iadjustments iin irespect iof iany iarithmetical ierror iin
ithe ireturn ior iany i incorrect iclaim iwhich i is iapparent ifrom ithe iexistence iof iany i information i in ithe

ireturn ior iin iany istatement ior idocument i filed itherewith;

i

(b) iTax iand iany iother iamount ipayable iunder ithis iOrdinance ishall ibe icomputed ion ithe ibasis iof ithe
i income icomputed iunder iclause i(a); iand
i
(c) ithe isum, ipayable iby ior irefundable ito ithe iassesse, ishall ibe idetermined iafter igiving icredit iof ithe
isum ipaid iby iway iof iadvance itax i including ithe itax ipaid iat isource iand ithe itax ipaid iunder ithis

iOrdinance.
i

(3) iWhere ithe iprocess iof ireturn iresults iin ia idifference iin ithe iamount iof iincome, itax ior iother
i material i figures ithan ithe iamount i mentioned i in ithe ireturn i filed iunder isub-section i(1), ithe iDeputy

iCommissioner iof iTaxes ishall iserve ia inotice ito ithe iassessee-

i

(a) icommunicating ihim iabout ithe idifference iand ienclosing iwith ithe inotice ia isheet iof icomputation
iof i income, itax, irefund ior iother irelated iparticulars ithat iresulted i from ithe iprocess iof ireturn;
i

(b) igiving ihim ian iopportunity ito iexplain ihis iposition iin iwriting iwithin ithe itime ispecified iin ithe
inotice iwhere ithe iprocess iof ireturn iresults i in iadditional i liability ior i in ireduction iof irefund, ias ithe

icase i may i be; iand

i

(c) iGiving ihim ian iopportunity ito-

i

(i) iFile ian iamended ireturn, iin ithe iapplicable icases, iwithin ithe itime ispecified iin ithe inotice,
iaddressing ithe idifference i mentioned i in ithe i notice; i and
i

(ii) iPay, iwithin ithe itime ispecified iin ithe inotice, ithe itax iand iany iother iamount ithat ibecomes ipayable
ias ia iresult iof ithe iprocess;
i

(4) iWhere ia inotice iunder isub-section i(3) iis iserved, ithe iDeputy iCommissioner iof iTaxes ishall-
i

(a) iSend ia iletter iof iacceptance iof iamended ireturn iwithin i2[ninety] idays iwhere iall iof ithe ifollowing
iconditions iare i fulfilled-
i

(i) iAn iamended ireturn iis ifiled iin iaccordance iwith ithe iprovision iof iclause i(c) iof isub-section i(3);
i

(ii) iany itax ior iany iother iamount, ipayable iunder ithis iOrdinance ias ia iresult iof ithe iprocess, ihas ibeen
ipaid ion ior ibefore ithe isubmission iof ithe iamended ireturn; iand
i

(iii) iThe idifference imentioned iin isub-section i(3) ihas ibeen iduly iresolved iin ithe ireturn;
i

(b) iServe, iafter ithe iexpiry iof ithe idate iof iresponse iof ithe iassessee ias imentioned iin ithe inotice iunder
isub-section i(3), ia inotice iof idemand ialong iwith ia isheet iof icomputation iof i income, itax, irefund ior

iother irelated iparticulars iwhere iany iof ithe iconditions i mentioned i in iclause i(a) i is i not ifulfilled:
i

Provided ithat ia inotice iof idemand ishall ibe iserved iwithin i3[nine] imonths ifrom ithe idate iof iserving
inotice iunder isub-section i(3).
i

(5) iWhere, iafter ifiling ithe ireturn iunder isub-section i(1), ithe iassessee ifinds ithat iowing ito iany
iunintentional i mistake ithe itax ior iany iother iamount ipayable iunder ithis iOrdinance i has i been ipaid

ishort ior icomputed ishort iby ireasons iof iunderreporting iof i income ior iover ireporting iof irebate,

iexemption ior icredit ior ifor iany iother ireasons, i he i may i file ito ithe iDeputy iCommissioner iof iTaxes ian

iamended ireturn-
i
(a) iAttaching iwith ithe iamended ireturn ia iwritten istatement imentioning ithe inature iand ithe ireason ifor
ithe i mistake;
i

(b) iPaying iin ifull, ion ior ibefore ifiling ithe iamended ireturn i-
i

(i) iThe itax iand iany iother iamount ithat iwas ipaid ishort ior icomputed ishort; iand
i

(ii) iAn iinterest iat ithe irate iof itwo ipercent i(2%) iper imonth ion ithe iamount imentioned iin isub-clause
i(i);
i

And iif ithe iDeputy iCommissioner iof iTaxes iis isatisfied ithat ithe iamended ireturn iis ifiled iin
icompliance iwith ithe iconditions i mentioned i in iclause i(a) iand i(b), ihe i may iallow ithe iamended ireturn:
i

Provided ithat ino iamended ireturn ishall ibe iallowed-

i

(a) iAfter ithe iexpiry iof ione ihundred iand ieighty idays ifrom ithe idate iof ifiling ithe ioriginal ireturn iunder
isub-section i(1); ior
i

(b) iAfter ithe ioriginal ireturn ihas ibeen iselected ifor iaudit iunder isub-section i(7).
i

(6) iNo inotice iunder isub-section i(3) ishall ibe iserved iafter ithe iexpiry iof itwelve imonths ifrom ithe idate
iof ithe isubmission iof ireturn iunder isub-section i(1) ior iamended ireturn iunder isub-section i(5), ias ithe

icase i may i be.

i

(7) iThe iBoard ior iany iauthority isubordinate ito ithe iBoard, iif iso iauthorized iby ithe iBoard iin ithis
ibehalf, i may iselect, iin ithe i manner ito ibe idetermined iby ithe iBoard, ia i number iof ireturns i filed iunder

isub-section i(1) ior iof iamended ireturns iaccepted iunder iclause i(a) iof isub-section i(4) ior iof iamended

ireturns iallowed iunder isub-section i(5), iand irefer ithe i same ito ithe iDeputy iCommissioner iof iTaxes i for

ithe ipurpose iof iaudit:

i

Provided ithat ia ireturn ifiled ior ian iamended ireturn iaccepted ior iallowed iunder ithis isection ishall inot
ibe iselected i for iaudit iwhere-
i

(a) isuch ireturn ior iamended ireturn ishows iat ileast ififteen ipercent i(15%) ihigher itotal iincome ithan ithe
itotal i income iassessed i in ithe i immediately ipreceding iassessment i year; iand
i

(b) iSuch ireturn ior iamended ireturn-

i

(i) iIs iaccompanied iby icorroborative ievidence iin isupport iof iincome iexempted ifrom itax;
i

(ii) iIs iaccompanied iby ia icopy iof ibank istatement ior iaccount istatement, ias ithe icase imay ibe, iin
isupport iof iany isum ior iaggregate iof i sums iof i loan iexceeding itaka i five i lakh itaken iother ithan i from ia

ibank ior ifinancial i institution;

i

(iii) iDoes inot ishow ithe ireceipt iof igift iduring ithe iyear;
i

(iv) iDoes inot ishow iany iincome iwhich iis isubject ito itax iexemption ior ireduced itax irate iunder isection
i44; ior
i

(v) iDoes inot ishow ior iresult iany irefund i4[; iand
i
(c) iThe iassessee ihas icomplied iwith ithe iprovisions iof isections i75A, i108 iand i108A.]
i

(8) iWhere iafter iconducting ithe iaudit ithe iDeputy iCommissioner iof iTaxes iis isatisfied ithat ithe iaffairs
iof ithe iassessee ihas i not ibeen iduly ireflected i in ithe ireturn ior ithe iamended ireturn ior iin istatements iand

idocuments isubmitted itherewith, ihe ishall icommunicate ithe i findings iof ithe iaudit ito ithe iassessee iand

iserve ia i notice irequiring ihim ito ifile ia irevised ireturn i reflecting ithe i findings iof ithe iaudit, iand ipay itax

iand iany iother iapplicable iamount ion ithe ibasis iof ithe irevised ireturn ion ior ibefore ithe i filing iof i such

irevised ireturn.
i

(9) iWhere ia irevised ireturn iis ifiled iand ithe iDeputy iCommissioner iof iTaxes iis isatisfied ithat ithe
ifindings iof iaudit i has i been iduly ireflected i in ithe irevised ireturn iand ithe itax iand iany iother iapplicable

iamount ihave i been i fully ipaid i in icompliance iwith ithe iprovision iof isub-section i(8), ihe i may iaccept

ithe irevised ireturn iand i issue ia i letter iof iacceptance ito ithe iassessee.
i

(10) iWhere iafter ithe iservice iof inotice iunder isub-section i(8) ino irevised ireturn iis ifiled ior ithe irevised
ireturn ithat ihas ibeen i filed idoes i not ireflect ithe i findings iof ithe iaudit, ior itax ior iother iapplicable

iamount ihas i not ibeen ipaid i in icompliance iwith ithe iprovisions iof isub-section i(8), ithe iDeputy

iCommissioner iof iTaxes ishall iproceed ito imake iassessment iunder isection i83 ior i84, iwhichever i is

iapplicable.
i

(11) iIn ithe icase iof ia ireturn isubmitted iunder isub-section i(1), ino iquestion ias ito ithe isource iof iinitial
icapital iof ithe i business ior iprofession iof ia i new iassessee ishall i be iraised, i if ithe iassessee-
i

(a) iShows iincome iwhich iexceeds ithe itax iexemption ithreshold iand iwhich iis inot iless ithan itwenty
ipercent i(20%) iof ithe i initial icapital i invested i in ithe i business ior iprofession;
i

(b) iPays itax ion isuch iincome iat iregular itax irate ialong iwith iany iother iapplicable iamount ion ior ibefore
ifiling iof ireturn; iand
i

(c) iMentions iin iwriting ithat ithe ireturn ifalls iunder ithis isub-section.
i

(12) iIn ithe icase iof ia ireturn ifor iwhich ithe iprovision iof isub-section i(11) iapplies, ithe iminimum
iamount iof icapital i maintained i in ithe ibusiness ior iprofession iat ithe iend iof ithe i income i year iand i four

isubsequent iincome i years ishall i be iequal ito ithe iinitial icapital; iand iany iamount iof ishortfall iof ithe

icapital i in iany i income i year ishall i be ideemed ias i"income i from i business ior iprofession" i for ithat

i income i year iand i shall i be i included i in itotal i income i of ithe iassessee.

i

(13) iFor ithe ipurpose iof ithis isection-

i

(a) iA ireturn iincludes iany istatement irequired ito ibe ifiled iunder isection i80;
i

(b) i“An iincorrect iclaim iwhich iis iapparent ifrom ithe iexistence iof iany iinformation iin ithe ireturn ior iin
iany i statement ior idocument i filed itherewith” i shall i mean ia iclaim, ion ithe i basis iof ian ientry, i in ithe

ireturn ior iin ithe istatement ior idocument isubmitted iwith ithe ireturn-
i

(i) iOf ian iitem, iwhich iis iinconsistent iwith ianother ientry iof ithe isame, ior isome iother iitem, iin isuch
ireturn, istatement ior idocument; ior
i
(ii) iin irespect iof ia ideduction, iexemption, irebate ior icredit, iwhere isuch ideduction, iexemption, irebate
ior icredit iexceeds ithe ispecified istatutory i limit iwhich i may i have i been iexpressed ias i monetary

iamount, ipercentage, iratio ior ifraction;

i

(c) i“Regular itax irate” imeans ithe irate iof itax ithat iwould ibe iapplicable iif ithe itax iexemption ior ithe
ireduced irate iwere inot igranted;
i

(d) iin icalculating ififteen ipercent i(15%) ihigher itotal iincome, ithe iincome ifrom ithe isources ithat iare
icommon i between ithe iassessment i years i for iwhich i the ireturn iunder i sub-section i(1) i has i been i filed

iand ithe i immediately ipreceding iassessment i year ishall i be iconsidered.]

5. Spot iassessment i
82D. iNotwithstanding ianything icontained iin ithis iOrdinance, iwhere ian iassessee, inot ibeing ia
icompany, iwho ihas inot ipreviously i been iassessed iunder ithis iOrdinance, icarrying ion iany i business ior

iprofession i in iany i shopping iCentre ior icommercial i market ior ihaving ia ismall i establishment, ithe

iDeputy iCommissioner iof iTaxes i may i fix ithe itax ipayable iby ihim i in i such i manner iand iat isuch irate ias

i may i be iprescribed iand ithe ireceipt iobtained i for ipayment iof isuch itax ishall i be ideemed ito ibe ian iorder

iof iassessment iunder isection i82.

6. Assessment iafter ihearing i

83. i(1) iWhere ia ireturn ior irevised ireturn ihas ibeen ifiled iunder iChapter iVIII iand ithe iDeputy
iCommissioner iof iTaxes i is i not isatisfied iwithout irequiring ithe ipresence iof ithe iperson iwho ifiled ithe

ireturn ior ithe iproduction iof ievidence ithat ithe ireturn i is icorrect iand icomplete, ihe ishall iserve ion isuch

iperson ia i notice irequiring i him, ion ia idate ito ibe itherein i specified, ito iappear ibefore ithe iDeputy

iCommissioner iof iTaxes, ior ito iproduce ior icause ito ibe iproduced ibefore ihim ior iat ihis ioffice, iany

ievidence i in isupport iof ithe ireturn. i

(2) iThe iDeputy iCommissioner iof iTaxes ishall, iafter ihearing ithe iperson iappearing, ior iconsidering
ithe ievidence iproduced iin ipursuance iof ithe inotice iunder isub-section i(1) iand ialso iconsidering isuch

iother ievidence, i if i any, ias i he i may irequire ion i specified ipoints, iby ian iorder iin iwriting iassess, iwithin

ithirty idays iafter ithe icompletion iof ithe i hearing ior iconsideration, ias ithe icase i may i be, ithe itotal

i income iof ithe iassessee iand idetermine ithe i sum ipayable iby i him ion ithe i basis iof i such iassessment, iand

icommunicate ithe iorder ito ithe iassessee iwithin ithirty idays i next ifollowing.]

7. Assessment ion ithe ibasis iof ireport iof ia ichartered iaccountant i

83AAA. i(1) iWhere ia ireturn ior irevised ireturn iis ifiled iunder iChapter iVIII iby ian iassessee ibeing ia
icompany iand ithe iBoard ihas ireasonable icause ito ibelieve ithat ithe ireturn ior irevised ireturn i is i incorrect

ior iincomplete, ithe iBoard imay iappoint ia iregistered ichartered iaccountant ito iexamine ithe iaccounts iof

ithat iassessee. i
(2) iThe ichartered iaccountant iappointed iunder isub-section i(1) ishall iexercise ithe ipowers iand
ifunctions iof ithe iDeputy iCommissioner iof iTaxes ias ireferred ito i in i section i79 iand iclauses i(a), i(b),

i(c), i(d) iand i(e) iof isection i113. i

(3) iThe ichartered iaccountant, iafter iexamination iof ithe iaccounts iof ithat iassessee, ishall isubmit ia
ireport iin iwriting ito ithe iBoard ialong iwith i findings iwithin ia itime ias i may ibe ispecified i by ithe i Board. i

(4) iOn ireceipt iof ithe ireport ireferred ito iin isub-section i(3), ithe iBoard ishall iforthwith iforward ithe
ireport ito ithe iconcerned iDeputy iCommissioner iof iTaxes i for iconsideration. i

(5) iOn ireceipt iof ithe ireport iunder isub-section i(4), ithe iDeputy iCommissioner iof iTaxes ishall iserve ia
inotice iupon ithe iassessee iunder isub-section i(1) iof isection i83. i

(6) iThe iDeputy iCommissioner iof iTaxes ishall, iafter ihearing ithe iperson iappearing iand iconsidering
ithe ievidences iproduced i including ithe i findings i stated i in ithe ireport ireceived iunder isub-section i(5)

iand ialso iconsidering ithe iother ievidences, i by i an iorder i in iwriting, iassess iwithin ithirty idays iafter ithe

icompletion iof i hearing ior iconsideration, ias ithe icase i may i be, ithe itotal i income iof ian iassessee iand

ishall idetermine ithe isum ipayable iby ithe iassessee ion i the ibasis iof isuch iassessment, iand icommunicate

ithe isaid iorder ito ithe iassessee iwithin ithirty idays i from ithe idate iof isuch iorder.]

8. Best ijudgment iassessment i

84. i(1) iWhere iany iperson ifails- i

(a) iTo ifile ithe ireturn irequired iby ia inotice iunder isection i77 iand ihas inot ifiled ia ireturn ior irevised
ireturn iunder isection i78; ior i

(b) iTo icomply iwith ithe irequirements iof ia inotice iunder isection i79 ior i80; ior i
(c) iTo icomply iwith ithe irequirements iof ia inotice iunder isection i83(1); i
The iDeputy iCommissioner iof iTaxes ishall, iby ian iorder iin iwriting, iassess ithe itotal iincome iof ithe
iassessee ito ithe i best iof i his i judgment iand idetermine i the isum ipayable i by ithe iassessee ion ithe i basis iof

isuch iassessment; iand icommunicate isuch iorder ito ithe iassessee iwithin ithirty idays inext ifollowing. i

(2) iWhere iin ithe iopinion iof ithe iBoard ia ibest ijudgment iassessment imade iby ia iDeputy
iCommissioner iof iTaxes iunder isub-section i(1) ishows i lack iof iproper ievaluation iof i legal iand i factual

iaspects iof ithe icase iwhich i has iresulted i in ian iarbitrary iand i injudicious iassessment, ithe iaction i leading

ito isuch iassessment i made iby ithe isaid iDeputy iCommissioner iof iTaxes ishall i be iconstrued ias

i misconduct.]

9. Assessment iin icase iof iincome iescaping iassessment, ietc. i

93. i(1) iIf, ifor iany ireason, iany iincome ichargeable ito itax ifor iany iassessment iyears ihas iescaped
iassessment ior ihas i been iunder iassessed ior ihas i been i assessed iat itoo ilow ia irate ior ihas ibeen ithe isubject

iof iexcessive irelief ior irefund iunder ithis iOrdinance, ithe iDeputy iCommissioner iof iTaxes i may i issue ia

inotice ito ithe iassessee icontaining iall ior iany iof ithe irequirements iwhich i may i be i included i in ia i notice

iunder i section i77 iand i may iproceed ito iassess ior idetermine, i by ian iorder i in iwriting, ithe itotal i income

iof ithe iassessee ior ithe itax ipayable i by ihim, ias ithe icase i may i be, iand iall ithe iprovisions iof ithis

iOrdinance ishall, iso i far ias i may i be, iapply iaccordingly i: i

Provided ithat ithe itax ishall ibe icharged iat ithe irate ior irates iapplicable ito ithe iassessment iyear ifor
iwhich ithe iassessment i is i made. i

(2) iNo iproceedings iunder isub-section i(1) ishall ibe iinitiated iunless idefinite iinformation ihas icome
i into ithe ipossession iof ithe iDeputy iCommissioner i of iTaxes i1[and i he ihas iobtained] ithe iprevious

iapproval iof ithe iInspecting iJoint iCommissioner i in i writing ito ido iso, iexcept iin ia icase iwhere ia ireturn

ihas inot ibeen i filed iunder i section i75 ior i77. i

(3) iA inotice iunder isub-section i(1) imay ibe iissued iby ithe iDeputy iCommissioner iof iTaxes,- i
(a) iIn iany icase iin iwhich ihe ihas ireason ito ibelieve ithat ithe iassessee ior iany iother iperson ion ihis ibehalf
ihas inot ifiled ia ireturn iunder isection i75 ior i77, iat iany i time; i

(b) iin iany icase iin iwhich ihe ihas ireason ito ibelieve ithat ithe iassessee ihas ifor iany iassessment iyear
iconcealed ithe iparticulars iof i his i income ior ifurnished i inaccurate iparticulars ithereof ior iomitted ior

ifailed ito idisclose iall i material i facts inecessary i for ithe iassessment i for isuch i year, iwithin i[[six] i years]

ifrom ithe iend iof ithe iassessment i year i for iwhich ithe iassessment i is ito ibe i made: i

Provided ithat iin ia icase iwhere ia ifresh iassessment iis imade ifor iany iassessment iyear iin ipursuance iof
ian iorder iunder i[sections i120, i121A, i156 ior i159], ithe iperiod iof i[[six] i years] ireferred ito iin ithis

iclause ishall icommence i from ithe iend iof ithe i year i in i which ithe i fresh iassessment i is i made; i

(c) iIn iany iother icase, iwithin itwo iyears ifrom ithe iend iof ithe iassessment iyear ifor iwhich ithe
iassessment i is ito ibe i made. i

(4) iIn icomputing ithe iperiod iof ilimitation ifor ithe ipurpose iof imaking ian iassessment ior itaking iany
iother iproceedings iunder ithis iOrdinance, ithe iperiod, iif iany, i for iwhich i such iassessment ior iother

iproceedings ihas i been istayed i by iany i Court, itribunal ior iany iother iauthority, ishall i be iexcluded. i

(5) iNotwithstanding ianything icontained iin isub-section i(3), iwhere ian iassessment ior iany iorder ihas
ibeen iannulled, iset iaside, icancelled ior imodified, ithe iconcerned i income itax iauthority i may istart ithe

iproceedings i from ithe istage inext ipreceding ithe i stage iat iwhich isuch iannulment, isetting iaside,

icancellation ior imodification itook iplace, iand inothing icontained i in ithis iOrdinance ishall irender

inecessary ithe ire-issue iof iany i notice iwhich i has ialready i been i issued ior ithe ire-furnishing ior irefilling

iof iany ireturn, istatement ior iother iparticulars iwhich ihas ialready i been i furnished ior ifiled, ias ithe icase

i may i be.

Limitation ifor iassessment i

94. i1[(1) iSubject ito ithe iprovisions iof isub-sections i(2) iand i(3), iafter ithe iexpiry iof-
(a) itwo iyears ifrom ithe iend iof ithe iassessment iyear iin iwhich ithe iincome iwas ifirst iassessable iif ithe
iassessment i is ito ibe i made ias ia iresult iof iaudit iunder i section i82BB;

(b) iThree iyears ifrom ithe iend iof ithe irelevant iassessment iyear iin iwhich ithe iincome iwas ifirst
iassessable i if ithe iassessment i is ito ibe i made iunder isection i107C; ior
i

(c) iSix imonths ifrom ithe iend iof ithe iassessment iyear iin iwhich ithe iincome iwas ifirst iassessable iif ithe
iassessment i is ito ibe i made i in ia icase iother ithan ithe icases i mentioned i in iclause i(a) ior i(b);
i

No iorder iof iassessment iunder ithe iprovisions iof ithis iChapter, iin irespect iof iany iincome, ishall ibe
i made.
i
(2) ian iassessment iunder isection i93 imay ibe imade iwithin itwo iyears ifrom ithe iend iof ithe iyear iin iwhich
ithe inotice iunder isub-section i(1) iof isection i93 iwas i issued.]
i

(3) iNotwithstanding ianything icontained iin ithis isection, ilimiting ithe itime iwithin iwhich iany iaction
i may i be itaken, ior iany iorder ior iassessment i may i be i made, iorder ior iassessment, ias ithe icase i may i be, ito

ibe i made ion ithe iassessee ior iany iother iperson i in iconsequence iof, ior ito igive ieffect ito, iany i finding ior

idirection icontained i in ian iorder iunder isections i120, i121, i156, i159, i161 ior i162 ior, iin ithe icase iof ia

ifirm, ian iassessment ito ibe i made ion ia ipartner iof ia i firm i in iconsequence iof ian iassessment i made ion ithe

ifirm, i3[ ishall i be i made i4[ iwithin ithirty idays] i from ithe idate ion iwhich ithe iorder iwas icommunicated]

i5[ iand icommunicate isuch irevised iorder ito ithe iassessee iwithin ithirty idays i next ifollowing] i6[ i:
i

Provided ithat iwhere ian iorder iof iassessment ihas ibeen iset iaside iby iany iauthority iin ithat icase ithe
iassessment ishall i be i made iwithin i7[ isixty] idays i from ithe idate ion iwhich ithe iorder iwas

icommunicated ito ihim.]

Explanation iI.-Where iby ian iorder iunder i8[sections i120, i121A, i156, i159, i161 ior i162], iany iincome
i is iexcluded i from ithe itotal i income iof ithe iassessee i for ian iassessment i year, ian iassessment iof isuch

i income i for ianother iassessment i year ishall, i for ithe ipurposes iof ithis isection, i be ideemed ito ibe ione

i made i in iconsequence iof, ior ito igive ieffect ito, iany i finding ior idirection icontained i in ithe isaid iorder.
i

Explanation iII.-Where iby ian iorder iunder i9[sections i120, i121A, i156, i159, i161 ior i162], iany iincome
i is iexcluded i from ithe itotal i income iof ione iperson iand i held ito ibe ithe i income iof ianother iperson, ian

iassessment iof isuch i income iof isuch iother iperson, ishall, i for ithe ipurposes iof ithis isection, ibe ideemed

ito ibe ione i made i in iconsequence iof ior ito igive ieffect ito, iany i finding ior idirection icontained i in ithe isaid

iorder.
i

(4) iWhere ithe iDeputy iCommissioner iof iTaxes ifails ito igive ieffect ito iany ifinding ior idirection
icontained i in ian iorder ireferred ito iin isub-section i(3) i within ithe iperiod istipulated itherein, isuch i failure

iof ithe iDeputy iCommissioner iof iTaxes i shall i be iconstrued ias i misconduct.