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<h1>Income-tax Act Section 106 updated: Order time limits set at 4 or 2 years, exceptions apply under Section 107A.</h1> Section 106 of the Income-tax Act is replaced to specify the time limits for issuing orders under section 104. Orders cannot be made after four years from the end of the assessment year for those starting on or before April 1, 1974, and two years for those starting after that date. Alternatively, orders can be made within one year from the end of the financial year in which the assessment or reassessment occurs, whichever is later. The limitation period does not apply if a company submits an application to the Board under section 107A.