Giving notice to the assessee [sec. 142(1)] –
For making of assessment, the Assessing officer may serve on any person a notice under sec. 142(1), for the following purpose:
- Return of Income-
If the assessee has not submitted a return of income within the time under sec. 139(1) or before the end of the relevant assessment year. The assessing officer may require him to submit the return in the prescribed for and in a date specified in the notice. Such notice can be served during the assessment year or in the end of the year.
- Document and accounts-
The assessing officer shall not require the production of any accounts pertaining to a period more than 3 years prior to the previous year
- Furnishing information-
The assessing officer may require the assessee to furnish information; however, the previous year shall be obtained before requiring the assessee to furnish a statement of all assets and liabilities not included in the accounts.