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 Bill 2016 amends Income-tax Act, reducing assessment completion time under sections 153A and 153C to 21 months.</h1> Clause 69 of the Finance Bill, 2016 proposes to replace section 153B of the Income-tax Act with a new section concerning the time limit for completing assessments under sections 153A and 153C. The amendment reduces the assessment completion period from two years to twenty-one months from the end of the financial year in which the last search or requisition authorization was executed. For other persons under section 153C, the period is set at either twenty-one months or nine months from the end of the financial year when documents are handed over, whichever is later. The changes take effect from June 1, 2016.
TaxTMI 
TaxTMI 
