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)
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15 October 2012 The time limit is 30.07.2012

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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)
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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

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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)
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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

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