Hello,
How long a previously closed return can be re-opened? What can be the reasons? Is it based on complaints and random selection.
Regards,
Harsha
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How long a previous year's return can be re-opened?
Replies (1)
This is what I found in the web.
INCOME ESCAPING ASSESSMENT U/S 147
If AO believes that the income of assessee of any previous year
has escaped assessment, he
can reopen the assessment and complete it as per new
information about income
or tax. Assessment up to last 6 years can be opened
. In order to open an income
escaping assessment AO has to issue notice u/s 148 to the assessee.
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