Regarding 148 notice

In short,

• The notice can be issued by the Assessing Officer before the end or expiration of a four year period from the conclusion of the assessment year of relevance, provided the taxable income that has evaded assessment is not more than Rs 1 lakh
• In the event the taxable income that has evaded assessment is more than Rs 1 lakh, a notice can be issued by the Assessing Officer within a time frame of six years from the conclusion of the assessment year of relevance. 
• In case the escaped income relates to any asset (including financial interest in any entity) located outside India, notice can be issued upto sixteen years from the end of the relevant assessment year.

Refer: https://www.incometaxindia.gov.in/Tutorials/33-various%20assessments.pdf

Thanks Sir, for your valuable reply but my question was whether the notice must be served means actually received by assessee  or issued means signed by the AO  upto the end of 4/6/16 years from the end of relevant assessment year.

Please clarify the point clearly as i know the limit of 4/6/16 years for escape income of Rs.1 lac or more. I want to claify the date. Suppose for Ay 2010-11 the notice must be received by assessee by 31st march 2017?? or signed by AO upto 31st march and received later on by the assessee ??if escape income is more than Rs.1 lac.

Thanks & Regards

Ravi Manocha

It is to be PROPERLY SERVED BY the time period.

Thanks Sir

Most Welcome.