Gift-Tax Act, 1958

Section - 16A - Time limit for completion of assessment and reassessment

42[Time limit for completion of assessment and reassessment.

16A. 43[(1) No order of assessment shall be made under section 15 at any time after the expiry of 44[two years] from the end of the assessment year in which the gifts were first assessable :

45[Provided that,-

(a)-where the gifts were first assessable in the assessment year commencing on the 1st day of April, 1987, or any earlier assessment year, such assessment may be made on or before the 31st day of March, 1991;
(b)-where the gifts were first assessable in the assessment year commencing on the 1st day of April, 1988, such assessment may be made on or before the 31st day of March, 1992.]
(2) No order of assessment or reassessment shall be made under section 16 after the expiry of two years from the end of the financial year in which the notice under sub-section (1) of that section was served :

Provided that,-

(i)-Google Play store