Page 231 - DCOM308_DCOM502_INDIRECT_TAX_LAWS

Indirect Tax Laws

Notes Regular Return: Regular return is the income tax return filed by assessee on or before the due
date it is covered u/s 139(1) of the income tax Act.
Self Assessment: As we know after the end of the financial year every person who is required to
file income tax return, should file his return of income.

13.8 Review Questions

1. When a Best Judgment Assessment can be made by AO.?

2. Can the return of income be revised? If yes then what is maximum time for revising the
return of income?
3. Can the previous cases of the income tax be reopened? If yes, what is the maximum
number of years for which income tax cases may be reopened?
4. Write short notes on:
(a) Scrutiny Assessment

(b) PAN
(c) Regular Assessment
(d) Belated Return.
5. Discuss the types of Income Tax Return.
6. Describe the Procedure of Assessment.

7. Explain the types of Assessment.
8. Who is required to submit the Income Tax Return?

Answers: Self Assessment

1. PAN 2. SSI
3. MODVAT 4. Dealer

5. Loss 6. Belated
7. Revised 8. Income
9. True 10. True
11. True 12. False

13. True 14. False

13.9 Further Readings

Books Datey, V.S, 2005. Indirect Taxes, Taxmann Publisher, Delhi. Twentieth Edition.
Dinkar Pagare; Law and Practice of Income Tax; Sultan Chand & Sons; latest edition.
Dr. Vinod K. Singhania and Monica Singhania; Students’ Guide to Income Tax;
Taxmann Publications Pvt. Ltd.; latest edition.

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