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What is Intimation of loss? What is Intimation of assessment of firm? Section 157 and 158 of Income Tax Act 1961

Intimation of loss and Intimation of assessment of firm are defined under section 157 and 158 of Income Tax Act 1961. Provisions under these Sections are :

Section 157 of Income Tax Act "Intimation of loss"

Section 157. When, in the course of the assessment of the total income of any assessee, it is established that a loss has taken place which the assessee is entitled to have carried forward and set off under the provisions of sub-section (1) of section 72, sub-section (2) of section 73, sub-section (1) or sub-section (3) of section 74 or sub-section (3) of section 74A, the Assessing Officer shall notify to the assessee by an order in writing the amount of the loss as computed by him for the purposes of sub-section (1) of section 72, sub-section (2) of section 73, sub-section (1) or sub-section (3) of section 74 or sub-section (3) of section 74A.

 

Section 158 of Income Tax Act "Intimation of assessment of firm"
Section 158. Whenever, in respect of the assessment year commencing on the 1st day of April, 1992, or any earlier assessment year, a registered firm is assessed, or an unregistered firm is assessed under the provisions of clause (b) of section 183, the Assessing Officer shall notify to the firm by an order in writing the amount of its total income assessed and the apportionment thereof between the several partners.

Income Tax Act 1961

What is Sanction for issue of notice? What is Other provisions? Section 151 and 152 of Income Tax Act 1961

What is Time limit for completion of assessments and reassessments? What is Assessment in case of search or requisition? Section 153 and 153A of Income Tax Act 1961

What is Time-limit for completion of assessment under section 153A? What is Assessment of income of any other person? Section 153B and 153C of Income Tax Act 1961

What is the meaning of Prior approval necessary for assessment in cases of search or requisition? What is Rectification of mistake? Section 153D and 154 of Income Tax Act 1961

What are other amendments? What is Notice of demand? Section 155 and 156 of Income Tax Act 1961

What is Intimation of loss? What is Intimation of assessment of firm? Section 157 and 158 of Income Tax Act 1961

What is Procedure when assessee claims identical question of law is pending before High Court or Supreme Court? Section 158A of Income Tax Act 1961

What is Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court? Section 158AA of Income Tax Act 1961

What is search cases Definitions? What is Assessment of undisclosed income as a result of search? Section 158B and 158BA of Income Tax Act 1961

What is Computation of undisclosed income of the block period? What is the Procedure for block assessment? Section 158BB and 158BC of Income Tax Act 1961

What is Undisclosed income of any other person? What is Time limit for completion of block assessment? Section 158BD and 158BE of Income Tax Act 1961

What is the meaning of Certain interests and penalties not to be levied or imposed? What is Levy of interest and penalty in certain cases? Section 158BF and 158BFA of Income Tax Act 1961

What is the Authority competent to make the block assessment? What is Application of other provisions of this Act? What is the Chapter not to apply after certain date? Section 158BG, 158BH and 158BI of Income Tax Act 1961

What are Legal representatives? Who is Representative assessee? Section 159 and 160 of Income Tax Act 1961

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