Assessment compleated
This query is : Open
04 January 2014
Good after noon sir..,
i have doubt,through how many ways assessment can be compleated.if order u/s 143(3) was received after that we went to appeal for that order. in this case assessment is compleated or not?
Thank you in advance.
i have doubt,through how many ways assessment can be compleated.if order u/s 143(3) was received after that we went to appeal for that order. in this case assessment is compleated or not?
Thank you in advance.
04 January 2014
Mr.Chegireddy Pothi Reddy
In your case the assessment is completed. If you get any relief in the appeal the concerned assessing officer will recompute your income and calculate tax there on in an order called "CONSEQUENTIAL ORDER".
Best Wishes
Sathikonda
In your case the assessment is completed. If you get any relief in the appeal the concerned assessing officer will recompute your income and calculate tax there on in an order called "CONSEQUENTIAL ORDER".
Best Wishes
Sathikonda
04 January 2014
may i know, what is the time limit for issue of order u/s 143(3)
06 January 2014
Time limit was 31st March 2014 and your order it seems is well within the time limit and you need to file an appeal within 30 days from assessment order.
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06 January 2014
Mr.Chegireddy Pothi Reddy,
As per the provisions of section 153 of the Income-tax Act, 1961 no order is supposed to pass either u/s 143 or u/s 144 after expiry of two years from the end of the assessment year in which the income is first assessable. In your case if the assessment year involved is 2011-12, two years from the end of the assessment will be calculated as under-
from 1-04-2012 to 31-03-2013 - One year
from 01-04-2013 to 31-03-2014 - second year
After 31-03-2014 no order can be passed either u/s 143 or u/s 144
Hope you have got the clarification.
Best Wishes
SathikondaA
As per the provisions of section 153 of the Income-tax Act, 1961 no order is supposed to pass either u/s 143 or u/s 144 after expiry of two years from the end of the assessment year in which the income is first assessable. In your case if the assessment year involved is 2011-12, two years from the end of the assessment will be calculated as under-
from 1-04-2012 to 31-03-2013 - One year
from 01-04-2013 to 31-03-2014 - second year
After 31-03-2014 no order can be passed either u/s 143 or u/s 144
Hope you have got the clarification.
Best Wishes
SathikondaA
06 January 2014
Mr.Chegireddy Pothi Reddy,
As per the provisions of section 153 of the Income-tax Act, 1961 no order is supposed to pass either u/s 143 or u/s 144 after expiry of two years from the end of the assessment year in which the income is first assessable. In your case if the assessment year involved is 2011-12, two years from the end of the assessment will be calculated as under-
from 1-04-2012 to 31-03-2013 - One year
from 01-04-2013 to 31-03-2014 - second year
After 31-03-2014 no order can be passed either u/s 143 or u/s 144
Hope you have got the clarification.
Best Wishes
SathikondaA
As per the provisions of section 153 of the Income-tax Act, 1961 no order is supposed to pass either u/s 143 or u/s 144 after expiry of two years from the end of the assessment year in which the income is first assessable. In your case if the assessment year involved is 2011-12, two years from the end of the assessment will be calculated as under-
from 1-04-2012 to 31-03-2013 - One year
from 01-04-2013 to 31-03-2014 - second year
After 31-03-2014 no order can be passed either u/s 143 or u/s 144
Hope you have got the clarification.
Best Wishes
SathikondaA
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