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Scrutiny Time limit bar
on today Date in which year scrutiny can be open, I mean what is the tax scrutiny time limit ?
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Quick Summary
There is no such time limit any assessment year can be taken if there is any under reporting of income or income escapement etc. for that respective assessment year
Effective 1st April 2021, the Income Tax Department of India cannot issue any notice to a taxpayer / tax return filer if 3 years have elapsed from the end of the relevant assessment year (it is 10 years if the unassessed income is Rs 50 lakh or more). The income earned and transactions conducted in a particular financial year are assessed in the next financial year which is called "assessment year". And they can go behind 3 assessment years from the current assessment years for hidden income was 10 Lakh or less and they can go behind 10 years if the hidden income is Rs 50 Lakh or more.
The earlier time limit for sending such notices was going backwards upto 6 years from the current assessment year.
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