Largest and fastest growing business Portals
Tweet
81. Provisional assessment.-
(1) The Deputy Commissioner of Taxes may, at any time after the first day of July of the year for which the assessment is to be made, proceed to make, in a summary manner, a provisional assessment of the tax payable by the assessee on the basis of the return and the accounts and documents, if any, accompanying it and where no return has been filed, on the basis of the last assessment including an assessment under this section.
(2) In making a provisional assessment under this section, the Deputy Commissioner of Taxes shall-
(a) rectify any arithmetical errors in the return, accounts and documents;
(b) allow, on the basis of the information available from the return, accounts and documents, such allowances as are admissible under the Third Schedule and any loss carried forward under section 38 or 39 or 41.
(3) For the purposes of payment and recovery, the tax as determined to be payable upon provisional assessment shall have effect as if it were determined upon regular assessment.
(4) The tax paid or deemed to have been paid under Chapter VII, in respect of any income provisionally assessed under sub-section (1), shall be deemed to have been paid towards the provisional assessment.
(5) Any amount paid or deemed to have been paid towards provisional assessment under this section shall be deemed to have been paid towards regular assessment ; and the amount paid or deemed to have been paid towards provisional assessment in excess of the amount found payable after regular assessment shall be refunded to the assessee.
(6) Nothing done or suffered by reason or in consequence of any provisional assessment made under this section shall prejudice the etermination on merit of any issue which may arise in the course of regular assessment.
(7) There shall be no right of appeal against a provisional assessment under this section.
Golden Bangladesh is a point of access to information.We present information from diverse sources in a unified way. It is the leading web portal, e-Directory and business guide in Bangladesh.
Leave a Comment