How long a previous year's return can be re-opened?

Tax queries 448 views 1 replies

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

 

 

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.

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register