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Notice Period Calculated for Transactions above Rs.50 lakh

Others 668 views 1 replies

Income Tax Department can send a notice up to 6 years after the financial year ends (or 5 years from the end of Assessment Year).

Example: FY 2025–26 → notice possible till 31-03-2032 (or 30-06-2032).

Replies (1)

The statement as written is incorrect and oversimplified.
Under the current law (post-Finance Act, 2021), the normal time limit is 3 years from the end of the relevant Assessment Year, and up to 10 years only in specified high-value cases.
The “6 years” rule applied only to earlier years under the old law.


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