Income tax notices 148a and 148: Understand Section 148A notice

Understand Section 148A notice , reassessment procedure, timelines, taxpayer rights, and response process under the Income Tax Act, 1961. “For income escaping assessment of Rs 50 lakh or more, the Section 148A notice must be issued within five years from the end of the assessment year. Notices under Section 148 , following a Section 148A notice , have a maximum time limit of five years and three months from the assessment year-end. Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendments, and compliance requirements. (1) No notice under section 148 shall be issued for the relevant assessment year,—