Report No. 12
Chapter XIV
Procedure for Assessment
143. Return of Income.-
(1)(a) Every person, if his total income, or the total income of any other person in respect of which he is assessable under this Act, during the previous year exceeded the maximum amount which is not chargeable to income-tax shall furnish, to the Income-tax Officer having jurisdiction to assess him, on or before the 30th day of June of each financial year, a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed-
Provided that the Income-tax Officer may in his discretion extend the date for the delivery of the return in the case of any person or class of persons:
Provided further that no such return need be furnished by any such person if he has already furnished a return of income for such year in accordance with the provisions of sub-section (2) [ 22(2)].
(b) Where a return of income has been sent under clause (a) to an Income-tax Officer who has no jurisdiction to make the assessment, it shall be his duty to forward the return to the Income-tax Officer having jurisdiction.
[Section 22(1)]
(2) In the case of any person who, in the Income-tax Officer's opinion s assessable under this Act, whether on his own total income or on the total income of any other person during the previous year, the Income-tax Officer may before the end of the relevant assessment year, serve a notice upon him requiring him to furnish, within thirty days from the date of service of the notice, a return of his income or the income of such other person during that year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.
Provided that the Income-tax Officer may, in his discretion, extend the date for the delivery of the return.
[Section 22(2)]
(3) If any person has sustained a loss in any previous year under the head 'Profits and gains of business, profession or vocation', and such loss or any part thereof would ordinarily have been carried forward under section 73(2) or 74(2) [subsection (2) of section 24], such person, or the person assessable in respect of the total income of such person, shall, if he has not been served with a notice under sub-section (2), furnish on or before the 30th day of June of the assessment year or within such further time as the Income-tax Officer in any case may allow, a return of loss in the prescribed form and verified in the prescribed manner and containing such other particulars as may be prescribed; and all the provisions of this Act shall apply as if it were a return under sub-section (1).
[Section 22(2A), part]
(4) If any person has not furnished a return within the time allowed by or under subsection (1) or sub-section (2), or having furnished a return under either of those subsections discovers any omission or wrong statement therein, he may furnish a return or a revised return, as the case may be, at any time before the assessment is made.
[Section 22(3)]
(5) The prescribed form of the returns referred to in sub-sections (1), (2) and (3) shall, in the case of an assessee engaged in any business, profession or vocation, require him to furnish particulars of the location and style of the principal place wherein he carries on the business, profession or vocation and of the branches thereof, the names and addresses of his partners, if any, in such business, profession or vocation and the extent of the share of the assessee and the shares of all such partners in the profits of the business, profession or vocation and any branches thereof.
[Section 22(5)]
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