Write a note on the following 1.Return of income in assessment 2.Ammendment in assessment 3.Provisional assessment 4.Assessment if return is not finished 5.Assessment of disputed property
- RETURN OF INCOME AS ASSESSMENT :-
If the return of income presented by the tax payer is accepted without any question, it will be treated as assessment. The total income shown on exemptions claimed by the tax payer will be accepted. The proof regarding the income provided by the taxpayer will be considered sufficient. So assessment and assessment orders both have been completed by the commissioner.
- ASSESSMENT WITHOUT RETURN :-
Some times as a person was bound to submit the return but he could not do so within due date. In this case commissioner has the power to make an assessment on the basis of available informations about the person.
If other party is absent then keeping in view the rules of justice commissioner should make a fair judgement. He should act honestly and should be guided by the rules of justices. The assessment should be very reasonable. He should also keep in mind that assessment is being made against the person who has not provided the information in spite a notice issued.
- A person fails to file return
- A person fails to provide an evidence in support of his return.
- If a person fails to provide accounts.
- Business discontinued but return was not filed.
- When he is about to leave country without filling the return.
- AMENDMENT IN ASSESSMENT :-
Any assessment made before can be amended by the commissioner only.
He can change : If he feels that income exemption or relief or tax is calculated wrong in the original assessment order. Such amendment can be passed by the commissioner with in 5 years of the original orders.
- Revise return itself is treated as amendment orders.
- At any time with in a period of 5 years assessment can be amended.
- Amended assessment of a commissioner can be amended by him again.
- PROVISIONAL ASSESSMENT :-
It is a temporary assessment. If the assessee has not filed the return of any income year. The income tax officer provisionally assesses the total income and payable tax of the assessee.
If any person does not show his income and any agency or govt. informs the tax department that such person has concealed the income. In this case commissioner can issue the provisional assessment or amendment orders for the last completed tax year. In this regard the value of the asset is considered as income of the taxpayer.
- DISPUTED PROPERTY :-
Commissioner can postponed the assessment of such property whose case is pending in the court. But with in one year after the decision of the court assessment orders should be possessed.