Notice u/s 148

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pankaj (Querist)
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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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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

Rupesh Jain (Expert)
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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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