Income tax notices 148a and 148: The Supreme Court of

The Supreme Court of India, in this case addressed the issue of reassessment notices issued under Section 148 of the Income Tax Act, 1961 in light of the amendments introduced by the Finance Act, 2021. “For income escaping assessment of Rs 50 lakh or more, the Section 148A notice must be issued within five years from the end of the assessment year. Notices under Section 148 , following a Section 148A notice , have a maximum time limit of five years and three months from the assessment year-end. Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendments, and compliance requirements. Notices are generally issued under section 142 (1), 142 (1), 143 (2), 148 , 139 (9) and 156 of the act. This article explains in detail, the different types of notices issued under Income Tax Act and their respective time limits within which such notices can be issued. Missed The Deadline?