Answer / niraj prakash (ffil)

Tax assessment means Tax assessed by the Tax collection
departments ensuring that your financial statemnts has a
True and fair view and whatever Income stated therin is
True and correct.It is a process done by the Tax
departments after filing of Return of Income.Different Tax
collection departments has different procedure of Tax
assessment as per the relevent act.

Answer / santosh kumar pattanaik

Tax assessment means it is a tax of previous year which we
have to pay in this year as per income tax law. under
section 200.
For the assessment year, income tax is paid on total income
earned during the preceding financial year. This period is
referred to as the previous year in the Income Tax Act. The
present information is applicable to the financial year
beginning on 1st April 2008 to 31st March 2009, relevant
for the Assessment Year 2009-2010.

Also you can get more information as given below link.

http://law.incometaxindia.gov.in/TaxmannDit/DisplayPage/dpag
e1.aspx

In wct limit is Rs.5lac if vendor provide bill below 5lac wct will applicable or it aggregate I need deduction of wct 5lac slap

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