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How does the AO carry out his scrutiny?
The AO can conduct enquiries as he deems fit from the assessee and third parties.
Foreign Assets
It is the entity which includes foreign bank accounts, financial interest, immovable property, accounts, trusts in which an individual has signing authority, held by the assessee outside India.
Who is an Assessing Officer (AO)?
Assessing Officer or AO is an individual officer appointed by Income Tax Department, who has jurisdiction to make an assessment of an assessee or tax payer.
I wanted to invest in REC/NHAI bonds but they are not available in market at this time and hence I am not able to invest my funds. What to do?
If bonds of assessee’s choice are not available throughout period of six months as provided under section 54EC, time to invest in bonds would get automatically extended till bonds are available in market; and assessee can purchase same and claim ...
What is Tax scrutiny?
Tax scrutiny refers to assessing the income tax return by the IT Dept. and notifying the assessee to show evidence of the income and expenses declared, deductions & exemptions, losses, or any other claims that can reduce the assessee’s tax liability.