Notice u/s 148
This query is : Resolved
12 August 2014
what is the time limit of notice issuance if the person is covered in the chapter of transfer pricing ..is it 16 years. or 6 years
12 August 2014
only in case if the assessee's has any financial int in the foriegn country or had any assets located outside india then only 16 years else if escaped income is more then 1,00,000 then 6 years else 4 years is the time limit
Rupesh Jain
(Expert)
12 August 2014
for foreign assets or assets out of courntry notice for 16 years and income escaped from tax more than RS. 100000/- then 6 year limit.
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