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2017-2018 financial year
what is procedure for selection of it for issuing notice under 148 income tax , is it automated system based or manually done ? Can a notice be sent after time period of 6 years .
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Quick Summary
Notice U/s 148 to be received upto 6 year but in special approval from commissioner level it's extended upto 2 year i.e 8 year
Notice U/s 148 issue due to non filling ITR in specific period or any capital goods purchase or any major Investment made
Notice U/s 148 issue due to non filling ITR in specific period or any capital goods purchase or any major Investment made
Beyond 6 years no notice under section 148 can be issued unless any income generated out of assets held in foreign country had been not disclosed in the return of income
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