WHAT IS THE LAST DATE FOR INCOME TAX OFFICE TO ORDER SCRUTINY OR ASK A QUERY
FOR F. Y. 15-16 ?
KINDLY GIVE A LEGAL OPINION.
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Scrutiny time limit by income tax
Replies (1)
1. Under sec. 143(2)... (for FY 2015-16, if return filed in 2016-17... Sept, 2017)
| Serving notice in case of understatement of income or under payment of tax for hearing for regular assessment/limited scrutiny assessment | Before expiry of 6 months from end of financial year in which return is furnished |
Issuing notice under section 148 in cases subjected to scrutiny by way of assessment under section 143(3) or 147 :
| If the escaped income— | ||
|
(i) is less than Rs. 1,00,000 |
Within 4 years from end of relevant assessment year | |
|
(ii) is Rs. 1,00,000 or more |
Within 6 years from end of relevant assessment year | |
|
(iii) is in relation to any asset (including financial interest in any entity) located outside India |
Within 16 years from end of relevant assessment year |
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