This presentation on Income Tax Assessment Procedure, prepared by CA Parikshit Aurangabadkar, offers a detailed overview of the Indian Income Tax assessment process. Organized into 15 slides, it outlines each step from filing the Income Tax Return (ITR) to various assessment scenarios. The presentation explains different situations such as timely filing, late submission, ITR revision, and non-filing, emphasizing their impact on the overall assessment procedure.
Key sections cover the procedural steps and tools employed by tax authorities, including notices issued under sections 143, 144, and 147, as well as summons. It further explores the avenues available for taxpayers by highlighting rights and remedies such as filing objections, appeals, and requesting rectifications like stay orders and delay condonations. The presentation also features practical case studies addressing common issues—from missing filing deadlines due to medical emergencies to discrepancies in TDS reporting and improper filing errors. These examples provide real-world context and offer valuable guidance for handling tax notices and disputes.
Overall, this educational resource serves as an indispensable guide for tax professionals, students, and anyone interested in understanding the nuances of the income tax assessment process in India. This presentation is an essential resource for tax experts.
