Time limit for notice u/s 148
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2013
Sir what is the time limit for notice u/s 148,one of the assessee has received the notice for the asst. year 2006-07 now, is it correct?
31 July 2013
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.
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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