Question

Explain the various types of assessments under income tax act 1961

Answer 1

 Types of Assessment Under Income Tax Act, 1961,
 there are four types of assessment as mentioned below:

1)Self assessment –u/s 140A -
2)Summary assessment –u/s 143(1) .
3)Scrutiny assessment –u/s 143(3)
4) Best Judgment Assessment –u/s 144
5)Protective assessment
6)Re-assessment or Income escaping assessment –u/s 147
7) Assessment in case of search –u/s153A

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