Who is an Assessing Officer (AO)?

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• What is Assessment order 143(3)?

  Assessment order 143(3) is issued by the Assessing Officer after the Scrutiny Assessment u/s143(2) is complete and all the evidences required have been submitted. Based on the evidences, the AO will issue an order for tax payable or refundable, to ...

• I have purchased a flat from the builder through an agreement to purchase. The payments are made as per the stage of construction. I haven't received possession of the flat within two years and I haven't registered a sale deed for purchase of new flat/house from builder. Am I eligible for exemption?

  Yes. Agreement to purchase coupled with substantial payments is enough for claim of exemption. The date of possession is more important than the date of sale deed or purchase deed. However, if possession is beyond your control, you can claim so ...

• Why did I get a notice u/s 143 (2)?

  You received a Notice u/s 143 (2) to inform you that a Scrutiny Assessment will be carried out by an assigned Assessing officer (AO) to ascertain whether your claims for deductions, exemptions, etc. are factually and legally correct. The AO has to ...

• What are the consequences of not responding to Notice 142(1)?

  There are severe consequences of not complying with the demands of Notice 142(1). You may be charged a penalty of ₹10,000 u/s271(1)(b) The Assessing officer, on the basis of all the relevant information and proofs gathered by him, will give a “Best ...

• How should I deal with Intimation Notice 245?

  If you have reason to believe that you do not have any outstanding balance, and you have cleared all your tax liability in the previous years, you must find out who is your Assessing Officer and approach him within 30 days of the receipt of the ...