CA Sanjay ‘Voice of CA’ Agarwal, CA Sidharth Jain
WHAT IS ASSESSMENT?
- Procedure for determining tax liability and recovery of tax
- Section 2(8): “Assessment”includes reassessment
- “Assessment”is wide enough to include all types of assessments including penalty proceedings
TYPES OF ASSESSMENT?
- Inquiry before Assessment Section 142(1)
- Summary Assessment Section 143(1)
- Scrutiny Assessment Section 143(3)
- Best Judgment Assessment Section 144
- Reassessment Section 147
- Search Assessment Section 153A
- Others not as per Act, Evolved per convention
Read More – Download PPT on Income Tax Assessment Procedure