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Tax Notice (7)

Under this assessment preliminary checking of income is done, that means no detailed checking of income is done at this stage. For example any arithmetical errors, any incorrect claim, disallowance of expenditure, disallowance of deduction and disallowance of loss, additional income appeared in 26AS or AIS which is not included while filing return of income.

With in a period 9 months from the end financial year in which return of income is filed.

If the Assessing Officer observes any income has been escaped then the relevant assessing officer call for Income escaping assessment u/s 147.

Within 12 months from the end of the assessment year in which the income was first assessable (From AY 2022-23 onwards)

Under Section 147 of the Income Tax Act, 1961, the Assessing Officer (AO) is empowered to reassess a taxpayer's income if there is a "reason to believe" that income chargeable to to levy taxes has avoided evaluation for any fiscal year. This provision ensures that any undisclosed or misreported income is appropriately taxed.

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