Clause 286 of Income Tax Bill 2025 sets one-year limit for tax assessments, with exceptions for audits and legal delays.

Clause 286 of the Income Tax Bill, 2025, establishes specific time limits for completing assessment, reassessment, and recomputation of income tax orders. Generally, these orders must be completed within one year from the end of the relevant financial year or the date specified in the table provided. The clause also outlines extensions and exclusions for these time limits, such as when a Transfer Pricing Officer is involved or when certain legal proceedings affect the timeline. Additionally, it specifies how periods related to audits, court orders, and other procedural delays should be excluded from the time calculation.