Home / Assessment of Income Tax Return

Updated on 20 Sep 2021  9.00 AM IST | 4 min read

Income Tax Return Overview

Every tax payer has to disclose its income details to the income tax department. These details are furnished when you file your income return. The process of collection & reviewing the tax return information of an individual by the tax department is known as Income tax assessment. When you file your tax return, income tax authority processes the return of income & examines it for its correctness.


Various Forms of Assessment Income Tax Return in India

There are various forms of assessment and they are as follows -

Self-assessment

Self-assessment is the process of filing tax return to the income tax department by accumulating the income details and adjusting the tax amount by availing reliefs such as exemptions & deductions. Self-assessment tax must be paid before filing of income tax return.

Summary Assessment

In summary assessment, the information submitted by an individual is cross-checked against the information tax department has access to and the correctness of the return is verified by the tax department. The return gets processed online & small adjustments such as arithmetical errors, disallowances, incorrect claims are done automatically.

Regular assessment

The assessment of income tax return is conducted by accessing officer (AO) not below the rank of an income tax officer authorized by the income tax department. The purpose of regular assessment is to ensure that the individual has neither understated the income or overstated any expense or loss or underpaid any tax. In this case, the intimation has been sent by the tax department to the tax payer containing information whether he or she has to pay more tax, pay interest or refund is payable by the tax department.

Best Judgement assessment

In this case, the assessing officer authorized by the income tax department arrives at a best and honest decision without being partial to anyone as per income tax law.

Income escaping assessment

This assessment is carried out when assessing officer catches the tax payer that he or she has evaded tax and not paid the full amount to the income tax department.


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Government Fees


Assessment Income Tax Return Services

Income tax return filing

Business income return filing

GST return filing


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Due Dates

  • GSTR-7 Summary of Tax Deducted at Source (TDS) and deposited under GST laws

    Sep 10th ,2021
  • GSTR-8 Summary of Tax Collected at Source (TCS) by e-commerce operators under GST laws

    Sep 10th ,2021
  • GSTR 1 for Aug 2021 (turnover more than INR. 1.50 Crore)

    Sep 11th ,2021
  • GSTR-6 Details of Input Tax Credit (ITC) received and distributed by an Input Service Distributor (ISD)

    Sep 13th ,2021
  • GSTR-3B is a summary return to be filed by all taxpayers except those registered under the composition scheme, every month. However, from 1st January 2021, there is also quarterly filing option provided to taxpayers with annual aggregate tunrover of up to Rs.5 crore, opting for the QRMP scheme for Aug Month. (Aggregate turnover exceeding Rs.5 crore in the previous financial year)
     

    Sep 20th ,2021
  • GSTR-3B is a summary return to be filed by all taxpayers except those registered under the composition scheme, every month. However, from 1st January 2021, there is also quarterly filing option provided to taxpayers with annual aggregate tunrover of up to Rs.5 crore, not opting for the QRMP scheme for Aug Month. (Aggregate turnover up to Rs.5 crore in the previous financial year)

    Sep 20th ,2021