Qwery
This query is : Resolved
03 April 2012
Hi Friends What is the time limit to issue of 143(2) and 143(3) notices under income tax act
04 April 2012
1. Notice u/s 143(2) can be issued upto six months from the end of the financial year in which the return is filed.
So, if the return is filed on 31.07.2011, then the financial year ends on 31.03.2012. Accordingly, notice cannot be issued after 30.09.2012.
2. 143(3) is NOT for issue of notice. 143(3) is an ASSESSMENT ORDER.
An assessment order u/s 143(3) has to be passed within 21months from the end of the relevant assessment year.
Accordingly, in the above case the assessment order has to be passed by 31.12.2013.
So, if the return is filed on 31.07.2011, then the financial year ends on 31.03.2012. Accordingly, notice cannot be issued after 30.09.2012.
2. 143(3) is NOT for issue of notice. 143(3) is an ASSESSMENT ORDER.
An assessment order u/s 143(3) has to be passed within 21months from the end of the relevant assessment year.
Accordingly, in the above case the assessment order has to be passed by 31.12.2013.
04 April 2012
You are welcome. You should use the thanks button to convey your thanks.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- ITDS U/S.194T of Firm
- Capital gain on sale and purchase of plot
- Invertaded duty struture
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
