Notice u/s 143 (1)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 October 2012 What is the time frame within which A.O can issue a notice U/S 143(1) for additional tax payment or for scrunity.

Assuming i am a individual not liable to get its accounts audited and i have filed my ITR for AY 2011-2012 on 30 July 2011.

Explain by mentioning relevant dates and time period

Regards

prasad

prasad (Expert)
Follow

15 October 2012 The time limit is 30.07.2012

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2012 So what i understand the new time frame is 1 year from the date of filling of return.Correct me if i am wrong.

Regards
Anish

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

16 October 2012 Intimation u/s 143(1) can be sent upto 1 uear from the end of the financial year in which the return was filed.

You filed a return on 30.07.2011.
End of the financial year is 31.03.2012
1 year from the end of the financial year comes to 31.03.2013

So intimation u/s 143(1) can be sent upto 31.03.2013

Message likes : 2 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 October 2012 Thanks..

N what about notice u/s 143(2)..what is the time frame

Anish

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

17 October 2012 Six months from the end of the financial year in which the return is filed.

In your example the notice u/s 143(2) can be sent upto 30.09.2012

Message likes : 1 times