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of <h1>Finance Act 2017 amends Section 153, reducing assessment time limits and altering deadlines for reassessment orders.</h1> Section 153 of the Income-tax Act has been amended by the Finance Act, 2017, to alter the time limits for completing various assessment and reassessment orders. For assessments starting April 1, 2018, the period is reduced from twenty-one to eighteen months, and for those from April 1, 2019, to twelve months. Notices under section 148 served from April 1, 2019, extend the period from nine to twelve months. Additionally, orders requiring document verification or hearings must be completed within the specified time. Amendments effective from June 1, 2016, address pending assessments due to time exclusions. The reference to section 153B is removed.
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