Income-tax Act, 2025

Time limit for completion of assessment, reassessment and recomputation - Section 286

Time limit for completion of assessment, reassessment and recomputation.

286. (1) No order in respect of proceedings mentioned in column B of the Table below shall be made after expiry of the period specified in the corresponding entry in column D of the said Table and such period shall be calculated from the date as mentioned in column C thereof.

TABLE

Sl. No.

Nature of Proceedings or orders

Date from which time limit for completion is to be calculated

Time limit for completion

A

B

C

D

1.

Assessment order under section 270(10) or section 271.

End of the financial year succeeding the relevant tax year for which assessment is made.

One year.

2.

Assessment order under section 270(10) or 271, where an updated return of income is furnished under section 263(6).

End of the financial year in which such updated return was furnished.

One year.

3.

Assessment order under section 270(10) or 271, where return is furnished in consequence of order under section 239(3)(b).

End of the financial year in which such return was furnished.

One year.

4.

Assessment, reassessment or recomputation order under section 279.

End of the financial year in which notice under section 280 was served.

One year.

5.

Fresh assessment order or fresh order under section 166 in pursuance to an order under section 359, or 363, or 377, or 378, setting aside or cancelling an assessment order or an order under section 166.

End of the financial year in which order under section 359, or 363 is received by, or order under section 377 or 378 is passed by, the jurisdictional Principal Commissioner or Commissioner.

One year.

6.

Assessment or reassessment which stands revived, as per section 292.

End of the month in which su .... To read the full section download the app from Google Play store