Extension of Financial Year
This query is : Resolved
14 April 2010
Whether should i take approval of AO for the extension of Financial Year as per the Income Tax Act? Is there any provision in the Income Tax Act to take such approval of AO? If yes Under which section?
14 April 2010
By virtue of section 3 of the Income tax Act,1961 an assessee cannot seek extension of previous year.
14 April 2010
No provision in Income Tax for extension of previous year.
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