Bare Act Search Results

Income Tax Act, 1961 Chapter XIV

Title: Procedure for Assessment

State: Central

Year: 1961

.....Act, 1974 (38 of 1974) ; (d) where regular books of account are maintained by the assessee, the return is accompanied by copies of (i) manufacturing account, trading account, profit and loss account or, as the case may be, income and expenditure account or any other similar account and balance sheet ; (ii) in the case of a proprietary business or profession, the personal account of the proprietor ; in the case of a firm, association of persons or body of individuals, personal accounts of the partners or members ; and in the case of a partner or member of a firm, association of persons or body of individuals, also his personal account in the firm, association of persons or body of individuals ; (e) where the accounts of the assessee have been audited, the return is accompanied by copies of the audited profit and loss account and balance sheet and the auditors report and, where an audit of cost accounts of the assessee has been conducted under section 233B of the Companies Act, 1956 (1 of 1956), also the report under that section ; (f) where regular books of account are not maintained by the assessee, the return is accompanied by a statement indicating the amounts.....

Karnataka Sales Tax Act, 1957 Chapter V

Title: Returns, Assessment, Payment, Recovery, Composition and Collection of Tax

State: Karnataka

Year: 1957

.....of tax payable by him on the basis of such return as reduced by any tax already paid under section 12B and shall furnish along with the return satisfactory proof of the payment of such tax, 3 [and the tax so payable shall for the purposes of section 13 be deemed to be the tax due under this Act from such dealer]. After the final assessment is made, the amount of tax so paid shall be deemed to have been paid towards the tax finally assessed.] (2) If the assessing authority is satisfied that any return submittedundersub-section (1) is correct and complete, he shall assess the dealer on the basis thereof. (3) If no return is submitted by the dealer under sub-section (1) beforethe date prescribed or specified in that behalf, or if the return submitted by him appears to the assessing authority to be incorrect or incomplete, the assessing authority shall assess the dealer to the best of his judgment, recording the reasons for such assessment: Provided that before taking action under this sub-section the dealer shall be given a reasonable opportunity of proving the correctness and completeness of the return submitted by him. 4 [(4) When making an assessment under sub-section.....

Wealth-tax Act, 1957 Chapter IV

Title: Assessment

State: Central

Year: 1957

.....or section 15 or in response to a notice issued under sub-section (4) of section 16 or this section or to disclose fully and truly all material facts necessary for his assessment for that assessment year: 4 [Provided further that the Assessing Officer shall, before issuing any notice under this sub-section, record his reasons for doing so.] 10[Provided also that the Assessing Officer may assess or reassess such net wealth, other than the net wealth which is the subject matter of any appeal, reference or revision, which is chargeable to tax and has escaped assessment.] Explanation.- Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso.] (1A) No notice under sub-section (1) shall be issued for the relevant assessment year, - 5 [(a) if four years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b); (b) if four years, but not more than six years, have elapsed from the end of the relevant assessment year, unless.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Chapter IV

Title: Assessment

State: Central

Year: 1958

.....13 or section 14 or in response to a notice issued under sub-section (4) of section 15 or this section or to disclose fully and truly all material facts necessary for his assessment for year: 4[Provided further that the Assessing Officer shall, before issuing any notice under this sub-section, record his reasons for doing so.] Explanation.--Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso. (1A) No notice under sub-section(1)shall be issued for the relevant assessment year,-- (a) in a case where an assessment under sub-section (3) of section 15 or sub-section (1) of this section has been made for such assessment year,-- (i) if four years have elapsed from the end of the relevant assessment year, unless the case falls under sub-clause (ii) or sub-clause (iii); (ii) if four years, but not more than seven years, have elapsed from the end of the relevant assessment year, unless the value of taxable gifts chargeable to tax which have escaped assessment amounts to.....

Agricultural Income-tax Act, 1957 Chapter 4

Title: Return of Income, Assessment, Etc.

State: Karnataka

Year: 1957

.....the prescribed manner, pay in advance the full amount of tax payable by him on the basis of such return and shall furnish along with the return satisfactory proofof the payment of such tax. After the assessment is made under section 19 the amount of tax so paid shall be deemed to have been paid towards the tax so assessed and excess amount, if any, paid shall be refunded to such person. (b) If after the assessment under section 19 it is found that the tax paid under clause (a) was less than the tax payable by more than twenty-five per cent, the3 [Assistant Commissioner of Agricultural Income-tax] may direct such person to pay in addition to the tax, by way of penalty, a sum9 [equal to twenty four per cent per annum of the amount of tax so paid short calculated from the date of expiry of the year to which such taxrelates:] 10 [Provided that in the case of a person whose total agricultural income as determined by the3 [Assistant Commissioner of Agricultural Income-tax] is less than twenty thousand rupees, the penalty imposed shall not exceed one hundredrupees.]] 11 [Provided further that no penalty under this sub-section shall be imposed unless the assessee affected has had a.....

Wealth-tax Act, 1957 Section 17

Title: Wealth Escaping Assessment

State: Central

Year: 1957

.....or section 15 or in response to a notice issued under sub-section (4) of section 16 or this section or to disclose fully and truly all material facts necessary for his assessment for that assessment year: 4 [Provided further that the Assessing Officer shall, before issuing any notice under this sub-section, record his reasons for doing so.] 10[Provided also that the Assessing Officer may assess or reassess such net wealth, other than the net wealth which is the subject matter of any appeal, reference or revision, which is chargeable to tax and has escaped assessment.] Explanation.- Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso.] (1A) No notice under sub-section (1) shall be issued for the relevant assessment year, - 5 [(a) if four years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b); (b) if four years, but not more than six years, have elapsed from the end of the relevant assessment year, unless.....

Wealth-tax Act, 1957 Chapter V

Title: Liability to Assessment in Special Cases

State: Central

Year: 1957

.....or deed.] 17 [Explanation 18 [2]. - Notwithstanding anything contained in section 5, incomputing the net wealth 19 [for the purposes of this sub-section orsub-section (4A) in any case, not being a case referred to in the proviso tothis sub-section], any assets referred to in clauses (xv), (xvi), (xxii),(xxiii), (xxiv), (xxv), (xxvi), (xxvii), (xxviii) and (xxix), of sub-section (I)of that section shall not be excluded.] 20 [(4A)Notwithstanding anything contained in this section, where the assets chargeableto tax under this Act are held by a trustee under an oral trust, the wealth-taxshall be levied upon and recovered from such trustee in the like manner and tothe same extent as it would be leviable upon and recoverable from an individualwho is a citizen of India and resident in India for the purposes of this Act,and- (a)at the rates specified in Part I of Schedule I; or (b)at the rate of three per cent, whichever course would be more beneficial to therevenue. Explanation.-For the purposes ofthis sub-section, "oral trust" means a trust which is not declared bya duly executed instrument in writing (including a valid deed of wakf) and whichis not deemed under the.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 16

Title: Gift Escaping Assessment

State: Central

Year: 1958

.....13 or section 14 or in response to a notice issued under sub-section (4) of section 15 or this section or to disclose fully and truly all material facts necessary for his assessment for year: 4[Provided further that the Assessing Officer shall, before issuing any notice under this sub-section, record his reasons for doing so.] Explanation.--Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso. (1A) No notice under sub-section(1)shall be issued for the relevant assessment year,-- (a) in a case where an assessment under sub-section (3) of section 15 or sub-section (1) of this section has been made for such assessment year,-- (i) if four years have elapsed from the end of the relevant assessment year, unless the case falls under sub-clause (ii) or sub-clause (iii); (ii) if four years, but not more than seven years, have elapsed from the end of the relevant assessment year, unless the value of taxable gifts chargeable to tax which have escaped assessment amounts to.....

Income Tax Act, 1961 Section 153

Title: Time Limit for Completion of Assessments and Reassessments

State: Central

Year: 1961

.....to the assessment year commencing on the 1st day of April, 1971, and any subsequent assessment year, an order of fresh assessment in pursuance of an order under section 250, section 254, section 263 or section 264, setting aside or cancelling an assessment, may be made at any time before the expiry of one year from the end of the financial year in which the order under section 250 or section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Chief Commissioner or Commissioner : Provided that where the order under section 250 or section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Chief Commissioner or Commissioner, on or after the 1st day of April, 1999 but before the 1st day of April, 2000, such an order of fresh assessment may be made at any time up to the 31st day of March, 2002:] 1[Provided further that where the order under section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Commissioner on.....

Maharashtra Increase of Land Revenue and Special Assessment Act, 1974 Complete Act

State: Maharashtra

Year: 1974

.....it shall be considered that the requirement of publication of assessment list has been complied with so far as that person is concerned. (2) The fact that the assessment list has been prepared and published may also be announced in the village by beat of drum 6[or by publishing in the local newspaper having wide publicity RULE 06: MANNER OF MAKING APPLICATION Under Section 7 (6)An application to7such revenue officer as designated by the Collector in the city of Bombay and to the Tahsildar elsewhere] under subsection (6) of Section 7 shall " (a) state in clear, concise and intelligible language, the grounds on which the correctness of the assessment list or any particulars therein are disputed; (b) specify the name and address of the applicant; (c) bear the signature or thumb impression of the applicant or of his duly authorised agent; and (d) either be presented to7[such revenue officer as designated by the Collector in the city of Bombay and to the Tahsildar elsewhere] in person or be sent to him by post. RULE 7 Manner of making appeal to Collector (3) Every such appeal shall either be presented to the Collector or, as the case may be, the authorised officer in person or be.....