Section 144 of IT act
This query is : Resolved
23 March 2024
Dear experts, is there any maximum time limit till when IT notice under section 144 can be issued....like we have in section 149 of 3 years and 10 years....Thanks in advance....
26 May 2024
The time limit to initiate assessment as per Section 144 is discussed in Section 153. They are:
For assessment years 2017-18 or before: Within 21 months from the end of the assessment year in which the income is first assessed.
For the assessment year 2018-19: 18 months from the end of fiscal year when the income is assessable for the first time.
For the assessment year 2019-20: Within 12 months of first assessing the income, by the end of assessment year.
For assessment year 2020-21: Within 18 months of the end of the financial year, where income was originally assessed.
For assessment year 2021-22: Within 9 months from the end of assessment year when income is assessable for the first time.
For assessment year 2022-23 onwards: 12 months from the end of fiscal year where income was originally assessed.
For assessment years 2017-18 or before: Within 21 months from the end of the assessment year in which the income is first assessed.
For the assessment year 2018-19: 18 months from the end of fiscal year when the income is assessable for the first time.
For the assessment year 2019-20: Within 12 months of first assessing the income, by the end of assessment year.
For assessment year 2020-21: Within 18 months of the end of the financial year, where income was originally assessed.
For assessment year 2021-22: Within 9 months from the end of assessment year when income is assessable for the first time.
For assessment year 2022-23 onwards: 12 months from the end of fiscal year where income was originally assessed.
08 September 2024
Good Luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- RCM - commercial rent paid to URP under GST
- Gst Sales of FY 2023-24
- Payable outstanding for years disallowance
- GST Annual Returns filing due date
- Offsetting interest income against derivative trading losses
- SEC 54 OF IT ACT
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
