Income Tax Assessment

Income tax assessment is the process through which the tax authorities verify the income, deductions, and tax paid by an individual or entity. It helps ensure that taxpayers have filed their returns accurately and have paid the correct amount of tax. The assessment is typically done after the submission of income tax returns and may involve a scrutiny or audit if necessary. This process is essential for maintaining tax compliance, and the outcome of the assessment determines whether additional taxes are due or if a refund is owed to the taxpayer.

Documents Required

Personal and Tax Information

PAN Card

Aadhaar Card

Bank Account Details (with IFSC)

Income Documents

Form 16 (Salary Certificate)

Salary Slips (if applicable)

Income from Other Sources (e.g., Interest, Dividends)

Income from House Property (Rent Agreements)

Tax Deducted at Source (TDS) Documents

TDS Certificates (Form 16, Form 16A)

Form 26AS (Tax Credit Statement)

Process Timeline

Filing of Income Tax Return (ITR)

The taxpayer files their income tax return with the correct details of income, deductions, and tax paid.

Processing of Return by Tax Department

The Income Tax Department processes the filed return and verifies the accuracy of the information provided.

Scrutiny/Assessment Notice

If discrepancies are found or if the return is selected for detailed review, the tax department may issue a notice of scrutiny or assessment.

Document Submission

The taxpayer must provide relevant documents or clarifications as requested by the tax department during the scrutiny process.

Assessment Order

After reviewing the documents, the tax department issues an assessment order, which may indicate whether additional taxes are owed, or a refund is due.

Appeals and Dispute Resolution

If the taxpayer disagrees with the assessment order, they can appeal to the Commissioner (Appeals) or file a case in the Income Tax Appellate Tribunal (ITAT).

Payment of Additional Tax (if any)

If additional taxes are due, the taxpayer must make the payment before the specified deadline to avoid penalties and interest.

Final Resolution

Once all payments or adjustments are made, the assessment process concludes.

Find the Perfect Fit for Your Budget

Choose from our range of flexible pricing options that cater to your specific needs.

₹4,999

Basic Plan

A brief description goes here

Get Started

Review and Analysis of income tax assessment for individuals or small businesses.

Assessment of income tax returns (ITR) filed in previous years.

Verification of tax deductions, exemptions, and eligible claims.

Assistance in reconciliation of income and taxes paid with Form 26AS and AIS.

Basic guidance on income tax notices (if applicable).

Email support for questions related to assessment.

Turnaround Time: 5-7 working days.

₹9,999

Standard Plan

A brief description goes here

Get Started

Comprehensive review and assessment of income tax returns (ITR) for individuals, self-employed, or small business owners.

Detailed examination of deductions, taxable income, and tax computation under various heads (e.g., salary, business income, capital gains).

Analysis and reconciliation with Form 26AS, TDS statements, and tax-paid records.

Assistance with advance tax payments and tax saving strategies.

Handling of income tax assessment notices, including responses and appeals (if applicable).

Email and phone support for all income tax assessment-related queries.

Turnaround Time: 4-6 working days.

₹19,999

Pro Plan

A brief description goes here

Get Started

In-depth income tax assessment for complex cases (e.g., businesses, foreign income, or complex tax filings).

Thorough audit of previous year’s ITR, taxable income, and business expenses to ensure accuracy.

Analysis of capital gains, deductions under Section 80C/80D, and tax liabilities for tax optimization.

Assistance with income tax notices and compliance issues, including reconciliation with Form 26AS, TDS, and AIS.

Personalized tax advisory on optimizing tax savings and minimizing liabilities.

Handling of appeals or rectification requests with the Income Tax Department (if required).

Priority support for queries and compliance issues.

Turnaround Time: 3-5 working days.

Frequently Asked Questions

Find answers to commonly asked questions about our products and services.

What is income tax assessment?

Income tax assessment is the process by which the tax authorities review the details of a taxpayer’s income tax return to ensure compliance with tax laws.

What happens if my tax return is selected for scrutiny?

If selected for scrutiny, the taxpayer may be required to provide additional documents and explanations to clarify discrepancies or verify the information in the return.

How long does the income tax assessment process take?

The process typically takes 6 to 12 months, depending on the complexity of the case and whether the return is under scrutiny or audit.

What is an assessment order?

An assessment order is a formal document issued by the tax department after reviewing the tax return, stating whether additional tax is due or if a refund will be issued.

Can I appeal against an income tax assessment?

Yes, if you disagree with the assessment order, you can appeal to the Commissioner (Appeals) and later to the Income Tax Appellate Tribunal (ITAT) if necessary.

What happens if I do not respond to the income tax assessment notice?

Failing to respond to the notice may result in penalties, interest charges, and potentially an adverse assessment order, which could include additional tax liabilities.

Can I request a reassessment of my income tax return?

Yes, if there is new information or if there was an error in the original return, you can request a reassessment within 4 years from the end of the relevant assessment year.

What is a tax audit in the context of income tax assessment?

A tax audit is an examination of a taxpayer’s financial records by the tax authorities to verify the accuracy of income, deductions, and tax claims.