06 November 2024
What are the rights and liability of an assesse in respect of the report received in the above form. Particularly how should the assessee reply wrt tax assessed through this form or he has to pay whole tax assessed.
06 November 2024
As per Section 65(6) r/w rule 101(5) the Audit issue its finding in Form ADT-02, followed by the demand notice u/s 73 or 74 as the case may be. The assessee has the right to reply to the findings mentioned in the ADT-02 form. This reply should be submitted within the specified timeframe. If the assessee disagrees with the findings, they have the right to appeal against the assessment. The assessee has the right to request additional information or clarification from the tax authorities regarding the findings in the report. The assessee is required to discharge any statutory liabilities as per the provisions of the Act. This includes paying any assessed tax, interest, or penalties.