Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-l to 6 & applicability of section 143(1)(a)(vi)-reg.
From India, Delhi

Attached Files (Download Requires Membership)
File Type: pdf Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf (321.4 KB, 735 views)

Insolvency N Gst Professional

Use factoHR and automate your HR processes

Mobile-first hire to retire HR and Payroll software that automates all HR operations and works as a catalysts for your organisational growth.


What I as an ordinary tax payer understand from this order:
Form 16 is your salary TDS certificate. If your income from salary for the financial year is more than the minimum exemption limit of Rs 2,50,000 your employer is required by the Income Tax Act to deduct TDS on your salary and deposit it with the government.
Form 16A is also a TDS Certificate, applicable for income other than salary income
All details that are there in Form 16A are available on Form 26AS.
suppose you have declared some amount as total income but omitted to include some interest income which has been included in Form26As, the IT department can ask for clarifications and if not satisfied can make adjustments and ask you to pay tax within a particular period of time.
Basically with computerisation having taken place, all incomes get recorded-be it TDS on FD or not mentioning SB interest.
Share transactions are cross checked by IT with NSDL database using PAN,
It becomes incumbent on every tax payer to be very careful to declare all his income from various sources.

From India, Pune

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.

About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2022 CiteHRŽ

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server