Obtaining Income Tax Assessment Order: A Detailed Guide
Section 2(24) of the Income Tax Act 1961 defines income, while Section 2(43) defines tax. According to these definitions, income tax is merely the sum an assessee must pay the government. According to the Income Tax Act of 1961, an assessee is an individual, HUF, company, AOP, BOI, trust, firm, LLP, or local authority that must pay tax. The amount owed or paid is determined by the assessee's revenue and the applicable tax slabs. Taxpayers must give the income tax agency specific information about their income. The income tax returns for the pertinent fiscal year must be filed with the IT department in order to accomplish this. Processing of this return by the department comes next after it is filed. This is where the return's accuracy is checked. Assessment is the department's procedure of reviewing the filed returns. This covers the re-evaluation and Section 144 best judgment evaluation. In this article, we will explain the process of obtaining an income tax assessment order in detail.
Table of Contents
What is an Income Tax Assessment Order?
An income tax assessment order is a directive given to an assessee by the IT department's assessing inspector. This order offers a thorough calculation of the sum that the assessee must pay or receive a refund for any prior year. Every action under the Income Tax Act starts with, or is supported by, an assessment order. Therefore, it is crucial that the assessing officer has access to all the information required to formulate a wise assessment order. The Income Tax Law provides for four main forms of assessments:
Section 143(1) Assessment: This is an overview of the assessment conducted without the assessee's presence.
Section 143(3) evaluation: This is a scrutiny assessment.
Section 144 Assessment: This is an evaluation based on the best opinion.
Section 147 Assessment: This assessment relates to income evasion.
Issuance of Income Tax Assessment Order
The return of income tax for the applicable financial year must first be filed by the taxpayer.
The assessing officer verifies the accuracy of the income tax return that has been filed. For example, the officer compares the assessee's records of accounts with the income tax return that was filed. The total profit shown in the books of accounts is compared to the net revenue reported on the income tax return by the assessing officer.
The assessee receives a notice asking for clarification if the assessing officer is dissatisfied with the accuracy of the submitted return. The assessment officer will typically ask for a variety of documents to be submitted at first in order to substantiate the amount that has been reported in the filed returns.
The assessee receives an assessment order if the assessing officer is still unsatisfied with the representations they made for the reason(s) specified in the show cause notice.
The Income Tax Act, 1961 provides a form that must be filled out. This is done to file an appeal with the relevant tax body if the assessee feels that the assessing officer's decision is unfair to them. The Act's deadline for filing this appeal must be followed, and any required payments must be started in that direction.
Steps to Obtain Income Tax Assessment Order from the IT Portal
An email notification is sent to the taxpayer's registered email address upon processing of their income tax return. The processes to resend the notification order are as follows:
Step 1: Go to Incometax.gov.in and log in to reach the e-filing portal.
Step 2: Go to the "My Account" menu, pick "Service Request," and then select "New Request" as the kind of request. Next, select the request category "Intimation u/s 143(1)154/16(1)/35" and click on the "Submit" button.
Step 3: Type in the information below:
Sort of Return
Evaluation Year
Category (Notification under Section 143(1))
Subcategory, if relevant
Step 4: Click ‘Submit’
Step 5: You can view the status of the submitted form by following these steps:
Go to the portal of e-filing by logging in at gov.in.
Go to the ‘My Account’ menu, choose ‘Service Request’, and click on ‘New Request’ as the request type. Then, select ‘Intimation u/s 143(1)154/16(1)/35’ as the requested category and click on ‘Submit’.
Steps to Download Income Tax Assessment Order
Go to the official electronic filing page.
Navigate to the "My Account" area and select "Service Request." Select "New Request" as the request type from now on.
Next, choose the requested category, "Intimation u/s 143(1), 154/16(1)/35." Click on the "Submit" button.
Enter information such as the kind of return, the assessment year, the category (Intimation under Section 143(1)), the subcategory, if relevant, etc.
Select "Submit."
Go to "My Account" à "Service Request" à "New Request" after logging in to the website to see the status of the completed form.
Press on "Submit" button after selecting "Intimation u/s 143(1)154/16(1)/35."
Conclusion
The official Income Tax Department website makes it easy and quick to obtain your Income Tax Assessment Order online in India. It is important that you preserve this document as it is evidence of your tax evaluation because you may need to present it down the line. You can quickly retrieve and download your Income Tax Assessment Order by following these procedures whenever needed. Remember that maintaining current records pertaining to your taxes is essential for both financial planning and adhering to Indian tax rules.
FAQ
Q1. What happens if I disagree with the tax amount specified in the income tax assessment order?
An individual or business may file an appeal of the income tax assessment order if they are unhappy with the tax amount stated in it. Making a request to the Income Tax Appellate Tribunal is one way to accomplish this.
Q2. How long does it take to get an income tax assessment order?
The intricacy of a person's or organization's tax return and the IT department's workload can affect how long it takes to obtain an income tax assessment order. Usually, it is released a year after the fiscal year in which the return was submitted ends.
Q3. Is it mandatory to get an income tax assessment order?
An income tax assessment order is required to be sent to a person or organisation that has submitted an income tax return. The individual or organisation will not receive an assessment order if they have not submitted a return.
Q4. What should you do on receipt of the income tax assessment order?
It is best to speak with the relevant chartered accountant for advice in the event that a taxpayer obtains an assessment order from the IT department.
Q5. Who is liable to receive an assessment order?
Such an order may be issued to any assessees who filed income tax returns for the prior fiscal year and whose filings the assessing officer finds unsatisfactory.
Q6. What is the service of notice?
Section 282 of the Income Tax Act of 1961 specifies how notices must be sent. As per the Information Technology Act, the Central Board of Direct Taxes has the power to authorise the use of electronic methods and postal or courier services. Furthermore, if the Central Board of Direct Taxes deems it appropriate, it may permit the distribution of notices in other ways. It is important to understand the "Service of notice" with regards to the order of assessment.
Q7. What is the deadline for issuing the income tax assessment order?
The income tax assessment order may be granted within nine months to ten years of the return's filing. The governing section that applied when the assessment order was granted sets this deadline.
Q8. What is proof of income tax assessment order required for a passport?
Evidence of income tax assessment and actual payment for the previous year, or an income tax return statement for the previous year that is stamped by income tax authorities and contains the applicant's paid income tax, is needed to obtain a passport.
Q9. How is an Assessment Order issued under Section 143(1)?
Under Section 143(1), an Assessment Order is automatically generated based on a preliminary assessment of your tax return, adjusting errors like incorrect claims or arithmetical mistakes.
Q10. What is the difference between an Assessment Order under Section 143(1) and Section 143(3)?
A Section 143(1) order is an automated intimation, while a Section 143(3) order is a detailed assessment after thorough scrutiny of your return and supporting documents by the tax officer.
Q11. What should I do if I receive an Assessment Order under Section 144?
An Assessment Order under Section 144 is issued in cases of non-compliance, such as failure to file a return or respond to notices. You can appeal or request a rectification if there are discrepancies.
Q12. Can I challenge an Assessment Order under Section 147 (Income Escaping Assessment)?
Yes, if an Assessment Order under Section 147 is issued for income escaping assessment, you can file an appeal or submit objections within 30 days, presenting valid reasons for reconsideration.
Q13. What is the time limit for passing an Assessment Order under Section 153?
Under Section 153, the time limit for passing an Assessment Order varies, generally ranging from 21 months to 33 months depending on the nature of the assessment, such as scrutiny or reassessment.
Q14. How can I respond to a Demand raised in an Assessment Order under Section 156?
When an Assessment Order is accompanied by a demand notice under Section 156, you are required to pay the tax due or dispute the demand within 30 days, depending on the case.
Q15. What is the role of a rectification request under Section 154 for errors in the Assessment Order?
You can file a rectification request under Section 154 if there are apparent mistakes, such as clerical errors or incorrect tax calculations, in the issued Assessment Order.
Q16. Can an Assessment Order result in a penalty under Section 271?
Yes, if the order finds that you have concealed income or furnished inaccurate details, you may be liable for a penalty under Section 271 of the Income Tax Act.
Q17. What happens if I fail to comply with the terms of the Assessment Order?
Non-compliance with an Assessment Order may lead to recovery proceedings, including the seizure of assets or bank accounts, under the provisions of Section 222 of the Income Tax Act.
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