Clause 280 of Income Tax Bill 2025: Notice Issuance Guidelines for Tax Assessment and Reassessment Procedures

Clause 280 of the Income Tax Bill, 2025 outlines the procedure for issuing notices before assessment, reassessment, or recomputation of tax. The Assessing Officer must issue a notice to the taxpayer, requiring them to submit a return of income within a specified period, not exceeding three months. This notice is contingent upon information suggesting that taxable income has escaped assessment. Prior approval from a specified authority is required if the notice is based on information under certain sections or directives from a Tribunal or court. The information must align with risk management strategies or arise from audits, agreements, or court orders.