INTERVIEW QUESTIONS INCOME TAX ASSESSMENTS UNDER THE INCOME-TAX LAW DETAILS

Question: ​What is the time limit for making the assessment under section 143(1)?​

Answer: ​​​​Assessment under section 143(1)​ can be made within a period of one year from the end of the financial year in which the return of income is filed.

​​​​Note:-
The processing of a return shall not be necessary before the expiry of the aforesaid period where a notice has been issued to the assessee under section 143(2​)​, i.e., a notice of scrutiny assessment has been issued to the taxpayer. However, in such cases, return shall be processed before the issuance of an order of scrutiny assessment under section 143(3)​.

​​​​Assessment under section 143(1)​ can be made within a period of one year from the end of the financial year in which the return of income is filed.

​​​​Note:-
The processing of a return shall not be necessary before the expiry of the aforesaid period where a notice has been issued to the assessee under section 143(2​)​, i.e., a notice of scrutiny assessment has been issued to the taxpayer. However, in such cases, return shall be processed before the issuance of an order of scrutiny assessment under section 143(3)​. Source: CoolInterview.com

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