Notice u/s 148A(b)/Order u/s 148A(d) of the Income Tax Act

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prop
26 Points Posted on 13 April 2023

Can an assessment u/s 147 be made assessing income less than Rs 50 lakh in March 2023 for an assessment year that has elapsed more than 3 years ago i.e. AY 2015-16.    

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On 13 April 2023 at 19:43 Report
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This discussion clarifies whether an income tax assessment under Section 147 can be made for an assessment year like 2015-16, which is more than three years old, especially if the income is less than Rs 50 lakh. The general consensus is that such reassessments cannot be opened after this period. For specific guidance, further details can be sought via email.

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19 Points Posted on 15 April 2023
No, it cannot be opened
For more details please drop an email on somesh @ sschandak.com
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On 15 April 2023 at 00:37
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Profession
28271 Points Posted on 15 April 2023
Appeal had been made in proper format and subsequent disposal of the same had been made.
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On 15 April 2023 at 11:57

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