Tuesday, May 29, 2012

Section Code 139 to 140A with Description

Friends,  In general it is found that there are some section codes on Income Tax papers but difficult to understand meaning of codes.   List of some important codes alongwith their description are given below :-

Section        Description of Section Code
139              Return of Income
139(1)         Submission of return of Income
139B           New Scheme to facilitate submission of return through Tax Return Preparers.
139(3)         Mandatory to file return before due date if certain losses are to be carried forward.
139(4)         Belated return.
139(4A)      Return of Income of charitable institutions. 
139(4B)      Return of Income of political party
139(4C)      Return of Income of certain associations and institutions. 
139(4D)      Mandatory to file return of Income/Loss
139(5)         Revised Return.
139(9)         Defective Return.
139A           Permanent Account Number
139C           Power of Board to dispense with furnishing documents, etc. with the return.
139D           Filing of return in Electronic Form.
140              Return by whom to be signed.
140A           Self Assessment 
143(1)         Processing of Return
143(3)         Assessment after hearing evidence/scrutiny assessment. 

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