05 April 2017
I have received a notice u/s 148 for escapment of income for the ass.year 2010-11. The notice is dated 31.03.2017. The notice was received 03.04.2017. the date of posting is 01.04.2017 .Is the notice valid ?
05 April 2017
Hi Bhargavi, can be issued within 4 years from the end of relevant assessment year if the income escaped does not exceed one lac Rs. If the income escaped is Rs. one lac or more the notice u/s 148 can be issued within 6 years from the end of relevant assessment year subject to the provisions of section 151.
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