Search results
Jul 18, 2021 · Section 149 is modified by Finance Act 2021 and now any case can be reopened within three years from the end of relevant assessment year as per clause (a) of Income Tax Articles
Section 149 in The Income Tax Act, 1961. 149. Time limit for notice. (1) No notice under section 148 shall be issued for the relevant assessment year,— (a) if three years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b);
Income-tax Act, 1961. 925 Record (s) | Page [1 of 93] Compare Act/ SectionNEW. Choose Acts: as amended by Finance Act.
Jun 22, 2022 · Despite the amended sections 147 to 149 & 151 of the Act coming into force w.e.f. 01.04.2021, the revenue issued approximately 90,000 reassessment notices to the respective assessees under the erstwhile sections by relying on extension notifications.
Mar 28, 2021 · Section 149 of the Income Tax Act, 1961 relating to Time Limit for Notice has been amended/ substituted, by the Finance Act 2021, with effect from AY 2021-22, to reduce time limit for re-opening of assessment proceedings from 6 years to 3 years.
Mar 9, 2023 · The amended provision of section 149 is effective for financial year 2022-23 relevant to the assessment year 2023-24. In this article, you will learn detail of the provisions of section 149 of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.
14 hours ago · Section 3 (1) of TOLA overrides Section 149 of the Income Tax Act,” the court ruled. In this case, the government changed the rules regarding how far back tax officials could look at old tax returns, creating confusion as there were two different sets of rules: the new rules effective from April 1, 2021, and the old ones prior to this date.
