TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 2006 Amends Section 153B: Assessment Timeline Reduced to 21 Months for Certain Income Tax Cases</h1> Section 153B of the Income-tax Act was amended by the Finance Act, 2006, effective June 1, 2006. The amendment introduces a proviso for cases where the last search or requisition authorization under sections 132 or 132A was executed from April 1, 2004, onwards. It modifies the time frame for assessment or reassessment from two years to twenty-one months. For other persons under section 153C, the limitation period is twenty-one months from the end of the financial year of the last authorization or nine months from when seized items are handed over, whichever is later.
TaxTMI 
TaxTMI 
