Submission of Tax Returns: Businesses must file their tax returns, providing detailed information about their income, expenses, and deductions. Review by Tax Authorities: The submitted returns are reviewed by tax authorities to verify accuracy and compliance. Audit: In some cases, a detailed audit may be conducted where the tax authorities scrutinize the financial records more thoroughly. Assessment Notice: After the review, an assessment notice is issued, indicating the amount of tax owed or any refunds due.