Finance Bill, 2022; Persisting doubts in proposals prescribing time limit for reassessment of income
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- Last Updated on 5 March, 2022
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V. K. SUBRAMANI – [2022] 136 taxmann.com 5 (Article)
One of the significant amendments proposed in the Finance Bill, 2022 relates to the time limit for reassessment besides information which suggests escapement of income chargeable to tax dealt with in Explanation 1 to section 148 of the Act.
This write up specifically focuses on section 149, which deals with the time limit for the issue of notice under section 148.
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