Section - 162, Income-tax Act, 1961 Right of representative assessee to recover tax paid. 162. (1) Every representative assessee who, as such, pays any sum under this Act, shall be entitled to recover the sum so paid from the person on whose behalf it is paid, or to retain out of any moneys that may be…...
Liability of representative assessee. Section – 161, Income-tax Act, 1961
Section - 161, Income-tax Act, 1961 Liability of representative assessee. 161. (1) Every representative assessee, as regards the income in respect of which he is a representative assessee, shall be subject to the same duties, responsibilities and liabilities as if the income were income received by or accruing to or in favour of him beneficially, and…...
Break-up of total expenditure ( Clause 44 of Tax audit)
Break-up of total expenditure ( Clause 44 of Tax audit) Sl.no Expenditure head Name of the entity to whom payment is made GSTIN of Entity Value for which input tax credit is taken Total amount paid to the vender Reason for NIL GST Remark Total Download excel format -Tax Audit report Clause…...
Representative assessee. Section – 160, Income-tax Act, 1961
Section - 160, Income-tax Act, 1961 B.—Representative assessees - General provisions Representative assessee. 160. (1) For the purposes of this Act, "representative assessee" means— (i) in respect of the income of a non-resident specified in sub-section (1) of section 9, the agent of the non-resident, including a person who is treated as an agent under section 163; (ii) …...
Legal representatives. Section – 159, Income-tax Act, 1961
Section - 159, Income-tax Act, 1961 CHAPTER XV LIABILITY IN SPECIAL CASES A.—Legal representatives Legal representatives. 159. (1) Where a person dies, his legal representative shall be liable to pay any sum which the deceased would have been liable to pay if he had not died, in the like manner and to the same extent as…...
Time limit for completion of block assessment. Section – 158BE, Income-tax Act, 1961
Section - 158BE, Income-tax Act, 1961 Time limit for completion of block assessment. 158BE. (1) The order under section 158BC shall be passed— (a) within one year from the end of the month in which the last of the authorisations for search under section 132 or for requisition under section 132A, as the case may be, was executed in cases where…...
Undisclosed income of any other person. Section – 158BD, Income-tax Act, 1961
Section - 158BD, Income-tax Act, 1961 Undisclosed income of any other person. 158BD. Where the Assessing Officer is satisfied that any undisclosed income belongs to any person, other than the person with respect to whom search was made under section 132 or whose books of account or other documents or any assets were requisitioned under section 132A, then, the…...
Procedure for block assessment. Section – 158BC, Income-tax Act, 1961
Section - 158BC, Income-tax Act, 1961 Procedure for block assessment. 158BC. Where any search has been conducted under section 132 or books of account, other documents or assets are requisitioned under section 132A, in the case of any person, then,— (a) the Assessing Officer shall— (i) in respect of search initiated or books of account or other documents or…...
Computation of undisclosed income of the block period. Section – 158BB, Income-tax Act, 1961
Section - 158BB, Income-tax Act, 1961 Computation of undisclosed income of the block period. 158BB. (1) The undisclosed income of the block period shall be the aggregate of the total income of the previous years falling within the block period computed, in accordance with the provisions of this Act, on the basis of evidence found as…...
Assessment of undisclosed income as a result of search. Section – 158BA, Income-tax Act, 1961
Section - 158BA, Income-tax Act, 1961 Assessment of undisclosed income as a result of search. 158BA. (1) Notwithstanding anything contained in any other provisions of this Act, where after the 30th day of June, 1995 a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A in the case of…...