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TMI BlogSelf-reporting of tax basesX X X X Extracts X X X X X X X X Extracts X X X X ..... s and is liable to pay income-tax thereon; and (viii) any other person, if his gross total income from ordinary sources exceeds the threshold limit; (b) in relation to dividend distributed, be the following:- (i) a company resident in India; and (ii) a mutual fund; (c) in relation to net wealth, be an individual, a Hindu undivided family or a private discretionary trust, if their net wealth exceeds the maximum amount which is not liable to wealth-tax. (3) The return of tax bases referred to in sub-section (1) shall be a return in respect of the tax bases of the person referred to in sub-section (2) or the tax bases of any other person in respect of which such person is assessable for the relevant financial year. (4) The return of tax bases ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... culars, as required under sub-section (4), intimate to such person the deficiency and allow an opportunity to such person to remove the deficiency within thirty days from the service of the intimation. (9) The Assessing Officer shall treat the return filed by a person as invalid, if the deficiency referred to in sub-section (8) is not removed within the time allowed and the provisions of the Code shall apply as if the person had failed to furnish the return. (10) The return of tax bases of a person specified in column (2) of the Table 5 below shall be signed and verified by a person specified in Column (3) of the said Table: TABLE 5 Sl. No. Person furnishing the return Person to sign and verify the return (1) (2) (3) (1) Individual being me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny unavoidable reason, is not able to sign and verify the return (9) Limited liability partnership (a) designated partner of the limited liability partnership; or (b) any partner (not being a minor) of the limited liability partnership if there is no designated partner or the designated partner, for any unavoidable reason, is not able to sign and verify the return (10) Local authority Principal officer of the authority (11) Political party Chief executive officer (whether such Chief executive officer is known as secretary or by any other designation) of the party (12) Any other association of persons Any member or the principal officer of the association (13) Any other person (a) person himself; or (b) any person competent to act on this be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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