PLEASE TELL ME TILL WHEN WE CAN GET NOTICE U/S 142(1) OF THE INCOME TAX ACT, 1961 FROM THE DEPARTMENT AFTER WHICH IT WOULD BECOME TIME BARRED
ALSO, PLEASE SPECIFY THE SECTION OR NOTIFICATION OR RULE UNDER WHICH SUCH TIME PERIOD IS GIVEN
CA SUKSHAM ARORA (CA) (569 Points)
05 July 2014PLEASE TELL ME TILL WHEN WE CAN GET NOTICE U/S 142(1) OF THE INCOME TAX ACT, 1961 FROM THE DEPARTMENT AFTER WHICH IT WOULD BECOME TIME BARRED
ALSO, PLEASE SPECIFY THE SECTION OR NOTIFICATION OR RULE UNDER WHICH SUCH TIME PERIOD IS GIVEN
CHIRAG DEEPAK GANATRA
(CA FINAL)
(1054 Points)
Replied 05 July 2014
i think with in 4 years from the end of assessment year means now you may get 142(1) for AY 2009-2010 but not before that
Varun
(fff)
(23 Points)
Replied 05 July 2014
Notice U/s 142(1)(1) requiring the assessee to file the Return of Income, the notice u/s 142(1)(i) can be issued only when an aseessee fails to file the return of Income within due date specified u/s 139(1).
Further the notice can be issued even after the end of Assessment Year.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
