assessment under income tax

CAMA Ltd. has filed the return under section 139(1) of the Act. The assessing officer would like to scrutinise this return of income. For that purpose, the assessing officer would like to assume
jurisdiction by issuing notice to CAMA Ltd. This notice shall be issued under:

Moksha Ltd. has filed the return under section 139(4) of the Act. The CPC (Central Processing Centre) would like to make adjustments while processing return under section 143(1) of the Act. Out of the followings, which adjustment cannot be done by CPC?

Some income has escaped assessment and therefore, the assessing officer issued notice under section 148 of the Act. In this notice, the assessing officer would direct assessee

In case of a company in liquidation, the return of income shall be verified by

As per section 142(2A), the assessing officer can direct the taxpayer to get his accounts audited from a _____________nominated by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner.

Notice under section 143(2) (i.e. notice of scrutiny assessment) may be served within a period of _______from the end of the financial year in which the return is filed.

Assessment under section 143(3) for assessment year 2019-20 shall be made within a period of ____ months from the end of the relevant assessment year.

Assessment under section 144 for assessment year 2019-20 shall be made within a period of _____ months from the end of the relevant assessment year.

During the course of assessment, if tax authorities require fair market value of an asset under section 56, then they may refer the matter to __________ to ascertain such value under section 142A of the Act.

When the Assessing Officer makes reference under section 142A to the valuation officer, a valuation officer shall send a copy of the valuation report, to the Assessing Officer and to assessee, within a period of _______ from the end of the month in which a valuation reference is made.

As per section 220(2), if the taxpayer fails to pay the amount specified in notice of demand under section 156 within the time period allowed in this regard, then he shall be liable to pay simple
interest ________ for every month or part of a month.

As per section 220(2A), power to waive or reduce interest under section 220(2) is available with ___________.

The provisions relating to tax treatment of unexplained cash credit are given in section _____.

The condition of satisfactory explanation about the nature and source of credit by the person in whose name credit of share application money, share capital, etc. is recorded in the books of a
closely held company, shall not apply if such closely held company is ________.

“Where in a financial year the taxpayer has made investments, which are not recorded in the
books of account, if any, maintained by him for any source of income, and he offers no
explanation about the nature and source of these investments, then the value of these investments shall be deemed to be the income of the taxpayer for such financial year.” This deemed income shall be taxed under section ______.

Section 69C aims to tax ________.

Assessment under section_____ is termed as scrutiny assessment.

Assessment under section_____ is termed as best judement assessment.

Assessment under section_____ is termed as income escaping assessment.

Assessment under section_____ is termed as regular assessment.

When any tax, interest, penalty or any other sum is payable in consequence of any order passed, the Assessing Officer shall serve upon the assessee, a notice of demand under section ___________ in the prescribed form specifying the sum so payable, is issued to the assessee.

Powers to issue directions to the assessing officer under section 144A of the Act in respect of assessment proceedings lie with ________________

The provisions relating to Dispute Resolution Panel are contained in section ___________ of the Act.

Dispute Resolution Panel means a collegium comprising of _____ Commissioners of Income-tax constituted by the Board for this purpose.

The provisions relating to forwarding a draft of proposed order of assessment to the eligible assessee are contained in section ___________

No Notice shall be issued under section 148 to agent of non – resident after expiry of__ years from the end of the relevant assessment year.

Where notice under section 148 is served on or after 1st April, 2019 then assessment under section 147 shall be complted within ________ from the end of financial year in which notice under section 148 is served.

Before issuing notice under section 148, the assessing officer __________

Mr. A is not a citizen of India. He wants to apply for PAN in India and he has consulted you to provide him the applicable form for application of PAN. What would be correct Form;

Mr. Sameer has gone to buy Honda Activa and vendor quoted the price of the Honda Activa Rs.40,000. He has consulted you to provide the threshold for furnishing of PAN on purchase of two vehicles. PAN has to be furnished ——–