PPT is on the Return filing procedure under the income tax act 1961, updated with the amendments provided under the Finance act 2021

1. Presentation
By-
Gunjan Sharma
Return Filing
procedure U/S 139

2. End of Previous
Year
Filing of Return
u/s 139, 142(1)
Processing and
Intimation
u/s 143(1)
Assessment and
Re-assessment
u/s 143(3), 144, 147
Rectification of
Order
u/s 154
Downward
Revision by CIT
u/s 264
Upward
Revision by CIT
u/s 263
Appeal to CIT(A)
u/s 246A
Appeal to ITAT
u/s 253
Appeal to High
Court
u/s 260A
Appeal to
Supreme Court
u/s 261
BRIEF OVERVIEW OF ENTIRE PROCESS
DRP

4. Return
Filling
Voluntary return
Mandatory
Return
Return by person not
required to one filed under
any compulsion

5. Any Company
Any Limited Liability
Partnership (LLP) and
unlimited liability
partnership.
Any total individual income
is exceeding the exemption
limit.
People who carries out certain
high-value transactions
mentioned in the section even
though their total income is below
the basic exemption limit. (7th
Proviso To section 139(1)
added via The Finance (No. 2)
Act, 2019
Any resident (ROR Only) who has an
asset located outside of India (might
include financial interest in some
entity as well) OR any resident who
retains signing authority for an
account based outside India.
MANDATORY RETURN FILING

6. Section
139(4) –
Late Filing
Income
Tax Return
Section
139(3) –
Filing
Income Tax
Return in
Case of Loss
Sec
139
(1)
RETURN
FILING
Sec139(4A
to 4F)- ITR
of different
institutions.
Section
139(5) –
Revised
Return
Section
139(9) –
Defective
Returns

7. CASE LAWS
ISSUE NO.1:- East Asiatic Company India Private Limited (Mad.)
ISSUE NO.2:- CIT vs. Haryana Hotels Ltd. (Punjab & Haryana)
CRUX- Therefore, unabsorbed depreciation can be carried forward even if the
ROI is furnished after the due date specified in section 139(1).
CRUX- Therefore, unabsorbed depreciation can be carried forward even if the
ROI is not filed by the assessee.
ISSUE NO.3:- Dhampur Sugar Mills Limited
CRUX- The revised return substitutes the original return from the date original
return was filed

8. CBDT CIRCULAR 9/2015
As per CBDT circular , loss can be carried forward even if ROI filed after
due date and delay in filling of loss return in case of genuine hardships
can be condoned by :
Authority Return Losses
CIT/PCIT Upto Rs. 10,00,000/-
CCIT/PCCIT >Rs.10,00,000 /-upto Rs.
50,00,000 /-
CBDT > Rs. 50,00,000/-

9. Section Return of Different Institutions.
139(4A) Return of Trust
139(4B) Return of Political party
139(4C) Return of Hospital, Institutions etc.
139(4D) Return of College university, Educational
institutions.
139(4E) Return of Business Trust (REIT/ INVIT)
139(4F) Return of Investment fund reffered in sec 115UB
Return Filing u/s 139(4A to 4F)

10. • Any individuals who do not need an audit to be conducted
• A person or employee who is paid with a wage.
• Any self-employed individual, Freelancer, consultant.
31st July
• All individuals who require an audit for their books of account
• A business entity, A self-employed person or professional.
• A working partner employed with a firm or a consultant who
requires to have an audit performed.
31st Oct
• Assessee who is required to furnish report of
transfer pricing u/s 92E.
30th Nov
Due Dates of Return Filing u/s 139
NOTE : Audit Report u/s 44AB is to be filed 1 month before the aforementioned deadlines

11. Enquiry Before Assessment (142 (1))
If assessee has not filed return
u/s 139(1) then AO may issue a
notice requiring him to produce:
Furnish return of
income u/s
139(1)
Books of Accounts
and documents
(Max 3 PY prior to
relevant PY)
Furnish information
including details of
asset or liability

12. Hierarchy of Income Tax authorities
Assessment Wing Investigation wing
Principal Chief Commissioner of IT
(PCCIT)
Chief Commissioner of IT (CCIT)
Principal Commissioner of IT (PCIT)
Commissioner of IT (CIT)
CBDT
Additional DIT/ Joint DIT
Assistant Commissioner/ Deputy
Commissioner (AC/DC)
Tax Recovery Officer(TRO)
Income Tax Officer (ITO)
Inspector of IT
Principal Director General of
IT (PDGIT)
Director General of IT (DGIT)
Principal Director of IT (PDIT)
Director of IT (DIT)
Additional CIT/ Joint Commissioner (JC)
Assistant Director/ Deputy
Director (AD/DD)
Assessing
officers

13. AO from
Jaipur
AO to
Jodhpur
Power to transfer cases u/s 127
CCIT/CIT can transfer the case from on AO to another AO only after providing
reasonable opportunity of being heard to assessee. However , no opportunity of
being heard shall be given within the same city, town, or locality.
Whenever, an IT authority ceases to exercise jurisdiction over a particular case and is being
succeeded by another IT Authority, then successor IT Authority shall continue the pending
proceeding from the stage it was left over by predecessor IT Authority u/s 129 . This section
have little relevance in faceless assessment.