https://www.taxtmi.com/acts?id=49575 The substituted section 16(1) provides that where a return under section 14 or 15 or in response to a specified notice shows tax or interest due after adjustment, an intimation specifying the sum shall be sent and shall be deemed to be a notice of demand under section 30; if a refund is due it shall be granted and intimated; acknowledgement of the return shall be deemed intimation where no sum is payable or no refund is due; and no intimation may be sent after two years from the end of the assessment year in which net wealth was first assessable. en-us Sat, 22 Feb 2025 11:52:31 +0530 Sat, 22 Feb 2025 11:52:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49575 The substituted section 16(1) provides that where a return under section 14 or 15 or in response to a specified notice shows tax or interest due after adjustment, an intimation specifying the sum shall be sent and shall be deemed to be a notice of demand under section 30; if a refund is due it shall be granted and intimated; acknowledgement of the return shall be deemed intimation where no sum is payable or no refund is due; and no intimation may be sent after two years from the end of the assessment year in which net wealth was first assessable. Act-Rules F. Acts / Amendment Acts Sat, 22 Feb 2025 11:52:31 +0530 https://www.taxtmi.com/acts?id=49575