How to get Income Tax Assessment Order?
The Indian Income Tax sector is governed by the Central Board for Direct Taxes (CBDT) and is part of the Department of Revenue which is managed by the Indian Revenue Service (IRS), under the Ministry of Finance, Government of India.
Income tax assessment is defined as a total amount determined as payable to the government according to your income. Government on checking your income files and will tell you how much you should pay to the government. How to get Income Tax Assessment Order? In order to get the income tax assessment order, we should file our income tax return for the previous financial year or the fiscal year or the accounting year. It should be submitted in the income tax ward or the district in the place where you reside and work. While submitting these things to the accessing officer it is important that you should submit the filled form 16 else you will be asked for a penalty.
There is severe punishment to the person who hides his income and files a wrong income tax assessment order according to the act of income tax assessment 1936. The section detained any agreement
- Changing the occurrence of several income tax;
- Relieving any individual from legal responsibility to pay the income tax or to create any return;
- Defeat, evasion, or avoid any responsibility or charge imposed on any individual by this Act; or
- Prevent the proceed of the Act in any deference;
To self assess your income tax, follow the steps:
- Add all your taxable income.
- Check whether you can get any income tax relief.
- Multiply the sum of your taxable amount with the income tax rate. (there are different income tax rates for different income and it changes according to the every year budget.)