As per section 153, the time limit for making assessment under section 143(3) is:-
Within 21 months from the end of the assessment year in which the income was first assessable. [For assessment year 2017-18 or before]
18 months from the end of the assessment year in which the income was first assessable. [for assessment year 2018-19]
12 months from the end of the assessment year in which the income was first assessable [Assessment year 2019-20 and onwards]
Note: If reference is made to TPO, the period available for assessment shall be extended by 12 months
Comments
0 comments
Please sign in to leave a comment.