section 8
Assessment
The Odisha State Tax on Professions, Trades, Callings and Employments Act, 2000Tax200034 sections
Statutory text
- (1) If the assessing authority is satisfied that the return furnished by an assessee is correct and complete, he may accept the return and if the return appears to him to be incorrect or incomplete he shall, after giving the assessee reasonable opportunity of proving the correctness or completeness of the return furnished by him and making such enquiry as he deems necessary, assess to the best of his judgment, the amount of tax due from the assessee.
- (2) The amount of tax due from any assessee shall be assessed separately for each year within a period of five years from the expiry of the year to which the assessment relates.
- (3) If any assessee has failed to get himself registered or having been registered has failed to furnish the required return, the assessing authority, shall, after giving the assessee, a reasonable opportunity of making representation and after making such enquiry as he deems necessary pass an order assessing the amount of tax due to the best of his judgement.
- (4) The amount of tax so assessed shall be paid within fifteen days of receipt of the notice of demand from the assessing authority.
- (5) In making an assessment under sub-section (1), the assessing authority, if he is satisfied that the escaped assessment was due to wilful non-disclosure of information or attempt to evade the tax by the assessee, may also direct to pay in addition to the tax assessed, a penalty which shall not be less than one and half times the tax so assessed but which shall not exceed three time the tax so assessed:
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