Scrutiny and Assessments
Income tax assessment is the process carried out by the Income Tax department after the filing of income tax return by an assessee. In an income tax assessment, the Income Tax department would verify the return filed for correctness with respect to the amount of taxable income declared and tax paid. There are various types of income tax assessment.
What is Scrutiny and Assessments?
It is the procedure of the income tax department where in they send notices to tax payers where there are certain mismatches and information is required for correct assessment. The assessee has to submit reply and provide information to ITO with regards to same. There has to be a proper and relevant information submission to ensure that the ITO is satisfied and there is no legal hassle for the assessee. There are various sections under which the ITO can ask for relevant information and even call for accounts to be remade.