CA/CMA Final Revisions MAY/JUNE/SEP/DEC 26 & JAN 27 l Assessment Procedure l CA Bhanwar Borana
CA Bhanwar Borana
124,301 views
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20 Comments
@_.vijay.soni._ 6 months ago (edited)
[01:07] Return filing basics.
[01:18] Mandatory for firms/companies.
[01:53] Thresholds for individuals.
[02:40] Old vs New regime.
[03:08] Foreign asset holders.
[04:30] Beneficiaries of assets.
[05:13] High-value transaction criteria.
[06:41] Foreign travel/electricity limits.
[07:05] Business turnover limits.
[07:17] TDS/TCS threshold filing.
[09:12] Due dates (31st Oct/July).
Loss & Belated Returns
[11:40] Filing loss returns.
[12:37] Timely filing necessity.
[13:30] Condonation of delay.
[15:04] Belated return deadlines.
[16:27] Late filing consequences.
[17:30] Revised return rules.
[18:26] Revising after intimation.
Updated Returns (Sec 139(8A))
[20:14] Updated return concept.
[21:24] 48-month time limit.
[22:12] Additional tax percentages.
[24:30] One-time filing restriction.
[25:12] No loss/refund updates.
[28:31] Search/Survey exclusions.
Income Escaping Assessment (Sec 147)
[34:07] Reassessment/Reopening overview.
[36:04] AO's information basis.
[36:27] 148A show-cause notice.
[37:55] Order on "fit" cases.
[39:51] Scope of assessment.
[43:04] Reply timelines/procedures.
[43:51] Higher authority approvals.
[46:02] Section 148 notices.
[51:23] Time limits (3/5 years).
Search & Block Assessment
[55:18] Search/Seizure (Red) cases.
[56:35] Block assessment (Sept 2024).
[57:12] Defining block period.
[58:48] 60% tax + 50% penalty.
[59:44] Abatement of proceedings.
[01:00:50] Revival of assessments.
[01:02:06] Block return (ITR-B).
[01:05:41] 60-day filing limit.
[01:08:21] 6-year lookback period.
[01:13:59] DRP non-applicability.
[01:17:11] Undisclosed income calculation.
[01:21:27] Exclusions from block income.
[01:27:39] Related person assessments.
[01:29:16] 12-month completion limit.
[01:34:45] Avoiding 50% penalty.
[01:18] Mandatory for firms/companies.
[01:53] Thresholds for individuals.
[02:40] Old vs New regime.
[03:08] Foreign asset holders.
[04:30] Beneficiaries of assets.
[05:13] High-value transaction criteria.
[06:41] Foreign travel/electricity limits.
[07:05] Business turnover limits.
[07:17] TDS/TCS threshold filing.
[09:12] Due dates (31st Oct/July).
Loss & Belated Returns
[11:40] Filing loss returns.
[12:37] Timely filing necessity.
[13:30] Condonation of delay.
[15:04] Belated return deadlines.
[16:27] Late filing consequences.
[17:30] Revised return rules.
[18:26] Revising after intimation.
Updated Returns (Sec 139(8A))
[20:14] Updated return concept.
[21:24] 48-month time limit.
[22:12] Additional tax percentages.
[24:30] One-time filing restriction.
[25:12] No loss/refund updates.
[28:31] Search/Survey exclusions.
Income Escaping Assessment (Sec 147)
[34:07] Reassessment/Reopening overview.
[36:04] AO's information basis.
[36:27] 148A show-cause notice.
[37:55] Order on "fit" cases.
[39:51] Scope of assessment.
[43:04] Reply timelines/procedures.
[43:51] Higher authority approvals.
[46:02] Section 148 notices.
[51:23] Time limits (3/5 years).
Search & Block Assessment
[55:18] Search/Seizure (Red) cases.
[56:35] Block assessment (Sept 2024).
[57:12] Defining block period.
[58:48] 60% tax + 50% penalty.
[59:44] Abatement of proceedings.
[01:00:50] Revival of assessments.
[01:02:06] Block return (ITR-B).
[01:05:41] 60-day filing limit.
[01:08:21] 6-year lookback period.
[01:13:59] DRP non-applicability.
[01:17:11] Undisclosed income calculation.
[01:21:27] Exclusions from block income.
[01:27:39] Related person assessments.
[01:29:16] 12-month completion limit.
[01:34:45] Avoiding 50% penalty.
@DreamBoyMahidhar 6 months ago (edited)
Sec.139(4) - 00:15:00
Sec.139(8A)- Updated Return - 00:20:13
Sec.147 - Income Escaping Assessment - 00:34:03 .
Sec149-Timelimit for issue notice u/s148n148A - 00:51:13 .
Sec150-Unlimited Timelimit for issue notice u/s148 - 00:52:50 .
Sec158BA-Assessement of Total Income as a Results of Search (Raid) - 00:55:00 .
Sec.139(8A)- Updated Return - 00:20:13
Sec.147 - Income Escaping Assessment - 00:34:03 .
Sec149-Timelimit for issue notice u/s148n148A - 00:51:13 .
Sec150-Unlimited Timelimit for issue notice u/s148 - 00:52:50 .
Sec158BA-Assessement of Total Income as a Results of Search (Raid) - 00:55:00 .
@satwikgupta3303 6 months ago
For Me--
[01:07] Return filing basics.
[01:18] Mandatory for firms/companies.
[01:53] Thresholds for individuals.
[02:40] Old vs New regime.
[03:08] Foreign asset holders.
[04:30] Beneficiaries of assets.
[05:13] High-value transaction criteria.
[06:41] Foreign travel/electricity limits.
[07:05] Business turnover limits.
[07:17] TDS/TCS threshold filing.
[09:12] Due dates (31st Oct/July).
Loss & Belated Returns
[11:40] Filing loss returns.
[12:37] Timely filing necessity.
[13:30] Condonation of delay.
[15:04] Belated return deadlines.
[16:27] Late filing consequences.
[17:30] Revised return rules.
[18:26] Revising after intimation.
Updated Returns (Sec 139(8A))
[20:14] Updated return concept.
[21:24] 48-month time limit.
[22:12] Additional tax percentages.
[24:30] One-time filing restriction.
[25:12] No loss/refund updates.
[28:31] Search/Survey exclusions.
Income Escaping Assessment (Sec 147)
[34:07] Reassessment/Reopening overview.
[36:04] AO's information basis.
[36:27] 148A show-cause notice.
[37:55] Order on "fit" cases.
[39:51] Scope of assessment.
[43:04] Reply timelines/procedures.
[43:51] Higher authority approvals.
[46:02] Section 148 notices.
[51:23] Time limits (3/5 years).
Search & Block Assessment
[55:18] Search/Seizure (Red) cases.
[56:35] Block assessment (Sept 2024).
[57:12] Defining block period.
[58:48] 60% tax + 50% penalty.
[59:44] Abatement of proceedings.
[01:00:50] Revival of assessments.
[01:02:06] Block return (ITR-B).
[01:05:41] 60-day filing limit.
[01:08:21] 6-year lookback period.
[01:13:59] DRP non-applicability.
[01:17:11] Undisclosed income calculation.
[01:21:27] Exclusions from block income.
[01:27:39] Related person assessments.
[01:29:16] 12-month completion limit.
[01:34:45] Avoiding 50% penalty.
[01:07] Return filing basics.
[01:18] Mandatory for firms/companies.
[01:53] Thresholds for individuals.
[02:40] Old vs New regime.
[03:08] Foreign asset holders.
[04:30] Beneficiaries of assets.
[05:13] High-value transaction criteria.
[06:41] Foreign travel/electricity limits.
[07:05] Business turnover limits.
[07:17] TDS/TCS threshold filing.
[09:12] Due dates (31st Oct/July).
Loss & Belated Returns
[11:40] Filing loss returns.
[12:37] Timely filing necessity.
[13:30] Condonation of delay.
[15:04] Belated return deadlines.
[16:27] Late filing consequences.
[17:30] Revised return rules.
[18:26] Revising after intimation.
Updated Returns (Sec 139(8A))
[20:14] Updated return concept.
[21:24] 48-month time limit.
[22:12] Additional tax percentages.
[24:30] One-time filing restriction.
[25:12] No loss/refund updates.
[28:31] Search/Survey exclusions.
Income Escaping Assessment (Sec 147)
[34:07] Reassessment/Reopening overview.
[36:04] AO's information basis.
[36:27] 148A show-cause notice.
[37:55] Order on "fit" cases.
[39:51] Scope of assessment.
[43:04] Reply timelines/procedures.
[43:51] Higher authority approvals.
[46:02] Section 148 notices.
[51:23] Time limits (3/5 years).
Search & Block Assessment
[55:18] Search/Seizure (Red) cases.
[56:35] Block assessment (Sept 2024).
[57:12] Defining block period.
[58:48] 60% tax + 50% penalty.
[59:44] Abatement of proceedings.
[01:00:50] Revival of assessments.
[01:02:06] Block return (ITR-B).
[01:05:41] 60-day filing limit.
[01:08:21] 6-year lookback period.
[01:13:59] DRP non-applicability.
[01:17:11] Undisclosed income calculation.
[01:21:27] Exclusions from block income.
[01:27:39] Related person assessments.
[01:29:16] 12-month completion limit.
[01:34:45] Avoiding 50% penalty.
@233karankumarverma6 6 months ago
For My refrence
[01:07] Return filing basics.
[01:18] Mandatory for firms/companies.
[01:53] Thresholds for individuals.
[02:40] Old vs New regime.
[03:08] Foreign asset holders.
[04:30] Beneficiaries of assets.
[05:13] High-value transaction criteria.
[06:41] Foreign travel/electricity limits.
[07:05] Business turnover limits.
[07:17] TDS/TCS threshold filing.
[09:12] Due dates (31st Oct/July).
Loss & Belated Returns
[11:40] Filing loss returns.
[12:37] Timely filing necessity.
[13:30] Condonation of delay.
[15:04] Belated return deadlines.
[16:27] Late filing consequences.
[17:30] Revised return rules.
[18:26] Revising after intimation.
Updated Returns (Sec 139(8A))
[20:14] Updated return concept.
[21:24] 48-month time limit.
[22:12] Additional tax percentages.
[24:30] One-time filing restriction.
[25:12] No loss/refund updates.
[28:31] Search/Survey exclusions.
Income Escaping Assessment (Sec 147)
[34:07] Reassessment/Reopening overview.
[36:04] AO's information basis.
[36:27] 148A show-cause notice.
[37:55] Order on "fit" cases.
[39:51] Scope of assessment.
[43:04] Reply timelines/procedures.
[43:51] Higher authority approvals.
[46:02] Section 148 notices.
[51:23] Time limits (3/5 years).
Search & Block Assessment
[55:18] Search/Seizure (Red) cases.
[56:35] Block assessment (Sept 2024).
[57:12] Defining block period.
[58:48] 60% tax + 50% penalty.
[59:44] Abatement of proceedings.
[01:00:50] Revival of assessments.
[01:02:06] Block return (ITR-B).
[01:05:41] 60-day filing limit.
[01:08:21] 6-year lookback period.
[01:13:59] DRP non-applicability.
[01:17:11] Undisclosed income calculation.
[01:21:27] Exclusions from block income.
[01:27:39] Related person assessments.
[01:29:16] 12-month completion limit.
[01:34:45] Avoiding 50% penalty.
[01:07] Return filing basics.
[01:18] Mandatory for firms/companies.
[01:53] Thresholds for individuals.
[02:40] Old vs New regime.
[03:08] Foreign asset holders.
[04:30] Beneficiaries of assets.
[05:13] High-value transaction criteria.
[06:41] Foreign travel/electricity limits.
[07:05] Business turnover limits.
[07:17] TDS/TCS threshold filing.
[09:12] Due dates (31st Oct/July).
Loss & Belated Returns
[11:40] Filing loss returns.
[12:37] Timely filing necessity.
[13:30] Condonation of delay.
[15:04] Belated return deadlines.
[16:27] Late filing consequences.
[17:30] Revised return rules.
[18:26] Revising after intimation.
Updated Returns (Sec 139(8A))
[20:14] Updated return concept.
[21:24] 48-month time limit.
[22:12] Additional tax percentages.
[24:30] One-time filing restriction.
[25:12] No loss/refund updates.
[28:31] Search/Survey exclusions.
Income Escaping Assessment (Sec 147)
[34:07] Reassessment/Reopening overview.
[36:04] AO's information basis.
[36:27] 148A show-cause notice.
[37:55] Order on "fit" cases.
[39:51] Scope of assessment.
[43:04] Reply timelines/procedures.
[43:51] Higher authority approvals.
[46:02] Section 148 notices.
[51:23] Time limits (3/5 years).
Search & Block Assessment
[55:18] Search/Seizure (Red) cases.
[56:35] Block assessment (Sept 2024).
[57:12] Defining block period.
[58:48] 60% tax + 50% penalty.
[59:44] Abatement of proceedings.
[01:00:50] Revival of assessments.
[01:02:06] Block return (ITR-B).
[01:05:41] 60-day filing limit.
[01:08:21] 6-year lookback period.
[01:13:59] DRP non-applicability.
[01:17:11] Undisclosed income calculation.
[01:21:27] Exclusions from block income.
[01:27:39] Related person assessments.
[01:29:16] 12-month completion limit.
[01:34:45] Avoiding 50% penalty.
@shivamgoyal927 6 months ago (edited)
@meghajaiswal4685 6 months ago (edited)
1.05-Sec 139(1) Normal Return
1.18-CAP Compulsory
1.53-Other Assessee( Before exmeption)
Compulsory for ROR
5.30- High Value Transaction(dep,travel,elec,bus or prof, tds tcs)
9.10- Due dates of Return Filing
11.48- Sec 139(3)-Loss Return( carry forward of losses, hp & unabsorbed dep)
15.29-139(4) Belated Return(cf, ded, int 234 A & F, 244A ROI)
17.47-Sec 139(5) Revised Return
20.20- Sec 139(8A) Updated Return (48 months from end of relevant A.Y)
Additional Tax Percentage(25/50/60/70)
Updated return cannot be revised
No return, applying for refund under updated return na
Updated Return cannot be submitted(loss, dec tax laibility, incr refund, search, survey, notice been issued)
34.23-Income Escaping Assessment/Reassessment/Re opening of cases ( SCN148A, order 148A(3), notice u/s sec 148, return in response to notice, assessment 147 complete)
42.13-Sec 148A Providing opportunity before issue of notice u/s 148
46.00- Sec 148-Issue of Notice
50.55-Prior approval for assessment, reassessment or recomputation
51.20-Time Limit for issue of notice u/s Sec 148 & 148A
148A( 3yrs & 5yrs specfic)
148( 3yr 3m & 5yr 3m specific)
53.01-Unlimited time limit to issue notice u/s 148
Sec 152(1)- Tax rate for escaped income
Dropping of Assessment Proceeding
54.06- Time limit to complete assessment( 12m from end of FY notice u/s 148 served)
Search and Block Assessment
56.15-Search Cases
57.00-Block Period Calculation
Tax 60%+ 50% penalty
59.44- Abatement of proceeding
Revival of proceeding
1.01.35-Assessment of total undisclosed Income as result of search( 60 days to file return in form ITR B)
No revised return allowed, no intimation to be issued
1.06.06-Time limit extended by 30 days
( dd for roi not expired, acc audited,acc not audited on rceipt of notice, written request to complete audit)
1.08.18-Block Period
Any assessment/ reassessment pending on date of start off search shall abate, appeal or rev not abate, TPO abate
1.17.05-Computation of total undisclosed income of block period( 60% tax, no int u/s 234A,B,C or penalty 270A)
1.26.34-Undisclosed income of any other person
1.29.23- Time limit for completion of block assessment912 months from endof quarter in which last of the authorisation for search or requisition made
tpo extended by 12m
1.33.38-Levy of Interest and penalties
1.18-CAP Compulsory
1.53-Other Assessee( Before exmeption)
Compulsory for ROR
5.30- High Value Transaction(dep,travel,elec,bus or prof, tds tcs)
9.10- Due dates of Return Filing
11.48- Sec 139(3)-Loss Return( carry forward of losses, hp & unabsorbed dep)
15.29-139(4) Belated Return(cf, ded, int 234 A & F, 244A ROI)
17.47-Sec 139(5) Revised Return
20.20- Sec 139(8A) Updated Return (48 months from end of relevant A.Y)
Additional Tax Percentage(25/50/60/70)
Updated return cannot be revised
No return, applying for refund under updated return na
Updated Return cannot be submitted(loss, dec tax laibility, incr refund, search, survey, notice been issued)
34.23-Income Escaping Assessment/Reassessment/Re opening of cases ( SCN148A, order 148A(3), notice u/s sec 148, return in response to notice, assessment 147 complete)
42.13-Sec 148A Providing opportunity before issue of notice u/s 148
46.00- Sec 148-Issue of Notice
50.55-Prior approval for assessment, reassessment or recomputation
51.20-Time Limit for issue of notice u/s Sec 148 & 148A
148A( 3yrs & 5yrs specfic)
148( 3yr 3m & 5yr 3m specific)
53.01-Unlimited time limit to issue notice u/s 148
Sec 152(1)- Tax rate for escaped income
Dropping of Assessment Proceeding
54.06- Time limit to complete assessment( 12m from end of FY notice u/s 148 served)
Search and Block Assessment
56.15-Search Cases
57.00-Block Period Calculation
Tax 60%+ 50% penalty
59.44- Abatement of proceeding
Revival of proceeding
1.01.35-Assessment of total undisclosed Income as result of search( 60 days to file return in form ITR B)
No revised return allowed, no intimation to be issued
1.06.06-Time limit extended by 30 days
( dd for roi not expired, acc audited,acc not audited on rceipt of notice, written request to complete audit)
1.08.18-Block Period
Any assessment/ reassessment pending on date of start off search shall abate, appeal or rev not abate, TPO abate
1.17.05-Computation of total undisclosed income of block period( 60% tax, no int u/s 234A,B,C or penalty 270A)
1.26.34-Undisclosed income of any other person
1.29.23- Time limit for completion of block assessment912 months from endof quarter in which last of the authorisation for search or requisition made
tpo extended by 12m
1.33.38-Levy of Interest and penalties
@KamalBasantani 4 months ago
point to be noted even 234C will be calculated in for additional tax payable, 234A and 234B not to be calculated on additional tax because 140B is specific only for 234A 234B
@aditilohia6802 6 months ago
Sir aise hi ap Pgbp & cap gain ke liye bhi kr dijiye ki hum bar bar sun ke 1-1.5 hr ki video
@crusherpiyush8178 4 months ago
Ek aur cheez samajhna, ek aur cheez samajhna bolte bolte har cheez samjha dete hai 😅
@ramyaramanathan7065 6 months ago
Sir can you make for Chapter VI A deductions only for Income based deductions from part 80IA or can we leave it
@KeshavKhandelwalsecured-f3y 2 months ago (edited)
5:54 doubt
aggregate of deposits with more than 1 bank or a single bank (multiple accounts)
aggregate of deposits with more than 1 bank or a single bank (multiple accounts)
CA/CMA Final Revisions MAY/JUNE/SEP/DEC 26 & JAN 27 l Assessment Procedure l CA Bhanwar Borana
CA Bhanwar Borana
124,301 views
Hello People,
For All Updates:
CA Final: https://t.me/bbsirdt
For Lecture Relates Queries
bbvirtuals.com
Follow us on Social Media
Linkedin - LinkedIn: bhanwar-borana-46542650
Insta - Instagram: ca_bhanwar_borana
Twitter - Twitter: bhanwarborana
I'm a Chartered Accountant and qualified four years ago. I studied Direct Tax almost entirely through your YouTube lectures and your book, Sir.
Thank you for making such a complex subject so easy to understand. It was an amazing learning experience.