Notice us 147
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2015
if assessment has made u/s 143(3) and escape income is more than 1 lacs what is the time limit for issue of notice u/s 147
example a.y. is 2009-2010
then its 4 years or 6 years from the end of the relevant a.y.
example a.y. is 2009-2010
then its 4 years or 6 years from the end of the relevant a.y.
24 February 2015
Time Limit for Issuing of notice u/s 148: Section 149 provides that notice u/s 148 can be issued within 4 years from the end of relevant assessment year if the income escaped does not exceed one lac Rs. If the income escaped is Rs. one lac or more the notice u/s 148 can be issued within 6 years from the end of relevant assessment year subject to the provisions of section 151.
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