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ISSUE OF NOTICE FOR REASSESSMENT Sec. 148

ISSUE OF NOTICE FOR REASSESSMENT [Sec. 148] - Income Tax - Return of Income and Assessment Procedure - 24 - ISSUE OF NOTICE FOR REASSESSMENT [Section 148] Before making the assessment, reassessment or recomputation u/s 147, the Assessing Officer should serve on the assessee a notice requiring him to furnish a return of income within such period as may be specified in the notice. Before issuing a notice, the Assessing Officer is required to record reasons for doing so. Time-limit and other condit .....

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the escaped Income is ₹ 1,00,000 or more for that year. If income in relation to any asset (including financial interest in any entity) located outside India, chargeable to tax, has escaped assessment. In other cases Assessment can be reopened whatever is the amount of income escaped. If the escaped income is ₹ 1,00,000 or more for that year. EXCEPTIONS:- The following exceptions are applicable to time-limits given. If the person on whom notice u/s 148 is to be served is a person tre .....

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