Legal Advice

 If the income tax authorities are of the opinion that any income of the assessee has not been disclosed or has escaped assessment, then they can initiate income escaping assessment proceedings under Section 147 of income tax act. This is also known as a reassessment. Section 147 to 153 of the Income Tax Act, 1961 primarily governs the reassessment proceedings. However, in the past 2 years, the reassessment provisions have undergone significant changes.  When an assessee is issued a reassessment notice, it is his right to determine whether the notice is valid or not. But when can an AO issue a reassessment notice and what are his powers? Let’s see that under Sections 147 and sec 148 of income tax act .  Section 147 – Power of Reassessment Section 147 of income tax act gives power to the assessing officer (AO) to assess or reassess any income that has escaped assessment in any assessment year. Further, the assessing officer can recompute loss, depreciation allowance or an...

Outsourcing payroll and HR services help businesses by taking on the responsibility of managing employee records, calculating taxes, and processing payments. This allows businesses to focus on their core competencies and frees up time and resources that can be better spent on other areas of the business.  There are many benefits of outsourcing payroll and HR services, including cost savings, improved efficiency, and access to expert knowledge. However, it is critical to select a renowned and dependable service who can satisfy your specific requirements. In this article, we will discuss the benefits of outsourcing payroll and HR services and how to choose the right provider for your business. What are some benefits of outsourcing payroll and HR services? There are many benefits of outsourcing your payroll and HR services to professional and experienced company. By outsourcing these services, businesses can save money, time, and resources of hiring an inhouse team. They can also avoi...