This guide unravels the complexities of income tax assessments in India. Learn about the different types of assessments, including self-assessment, scrutiny assessment, and summary assessment. Understand how each assessment works and what to expect from the Income Tax Department. The guide also emphasizes the importance of timely and accurate ITR filing to avoid assessments before an Assessing Officer.

To meet their banking needs, many people, including those with regular salaries, often open savings accounts to keep their money safe and earn interest.

The forthcoming interim budget on February 1, 2024, may witness an increase in the tax exemption limit, with the government potentially introducing a new finance bill for this adjustment.

To implement this, the GSTN (GST Network) plans to assign the task to the next technology vendor for the GST portal, as the current service provider, Infosys, has a contract that expires on September 30, 2024.