The Income-tax Act has prescribed time limit in respect of various procedures, applications, etc. (like time limit for filing an appeal to the Commissioner of Income-tax (Appeals), deposit of tax on distributed profits of domestic companies, filing return of income, filing belated return of income, etc.). In this part you can gain knowledge about the period of limitation prescribed under the Income-tax Act for various procedures, applications, etc.

Section Nature of compliance Limitation of time
(1) (2) (3)
2(48) Application by an infrastructure capital company or infrastructure capital fund or a public sector company for notification under clause (48) of section 2 of any zero coupon bond proposed to be issued by it . At least three months before the date of issue of such bond. However it should be noted that an application shall not be made for notification of a bond to be issued after two financial years following the financial year in which the application is made.
Submitting certificate of a chartered specifying the amount invested in each year accountant in case of zero coupon bond. Within a period of two months from the end of each financial year
9(1) Electronically submission of information in Form No. 49D pertaining to any transfer of the share of, or interest in, a foreign company/entity. Within 90 days from the end of the financial year in which any such transfer takes place (within 90 days of the transaction where the transaction has the effect of directly or indirectly transferring the rights of management in relation to Indian concern)
9A Furnish a statement by every eligible investment containing information relating to the fulfilment of the relevant conditions or any information or document which may be prescribed. Within a period of 90 days from the end of financial year
10(21) Furnishing (by a research association) a statement to accumulate/set apart income for future application by uploading Form No. 10 Before the expiry of time allowed for submission of return of income under section 139(1)
10(23C) Making an order accepting/rejecting application made under first proviso for grant of exemption under sub-clause (iv)/(v)/(vi)/(via) Within 12 months from end of month in which application was received
Making application under fourteenth proviso to section 10(23C) to designated authority by educational/medical institutions, etc., referred to in section 10(23C)(iv) / (v) / (vi) / (via) On or before 30th September of relevant assessment year
10A(8) Furnishing declaration by taxpayer in respect of industrial undertaking in any free trade zone for not availing tax holiday under section 10A Before due date for furnishing return of income under section 139(1)
10B(8) Furnishing declaration by taxpayer in respect of 100 per cent export-oriented undertaking for not availing tax holiday under section 10B Before due date for furnishing return of income under section 139(1)
10C(6) Furnishing declaration by taxpayer in respect of certain industrial undertakings in North Eastern Region for not availing tax holiday under section 10C Before due date for furnishing return of income under section 139(1)
11(1), Explanation Exercising option available under Explanation to section 11(1) by uploading Form No. 9A Before the expiry of time allowed for submission of return of income under section 139(1) (applicable from the assessment year 2016-17)
11(2) Furnishing a statement to accumulate/set apart income for future application by uploading Form No. 10 Before the expiry of time allowed for submission of return of income under section 139(1)
12A(1)(aa) Filing application for registration of trust or institution for purposes of section 11 Application on or after 1-6 2007 shall be made in the prescribed form and in the prescribed manner and the provisions of sections 11 and 12 shall apply in relation to the income of such trust or institution from the assessment year immediately following the financial year in which such application is made and for the earlier assessment years whose assessment is pending as on the date of such registration if the objective for such earlier years and the objectives on the basis of which registration is granted are same.
12A(1)(ab) Filing application for re-registration in the case of a trust (registered under section 12A/12AA) which has adopted or undertaken modifications of the objects which do not conform to the conditions of registration Within a period of 30 days from the date of such adoption or modifications of the objects (applicable from the assessment year 2018-19)
12AA Passing an order granting or refusing registration of trust Within 6 months from the end of the month in which application u/s 12A(1)(aa) is received
35 Order accepting/rejecting application made under first proviso to section 35(1) for grant of approval under section 35(1)(ii)/(iii) Within 12 months from end of month in which such application was received
35(2AA) Filing annual audited accounts for each approved programme by the National Laboratory, etc. October 31 each year
Submitting copy of audited statement of accounts for approved programmes Within 6 months of completion
Passing order by the prescribed authority in Form 3CH Within 2 months from receipt of application
35(2AB) Electronically furnishing report by prescribed authority in relation to in-house research facility in Part A of Form No. 3CL Within 120 days of grant of approval
Submitting copy of audited accounts in Form No. 3CLA to the Secretary, Department of Scientific and Industrial Research On or before due date of submission of return of income
Electronically furnishing report by prescribed authority quantifying the expenditure incurred on in-house research and eligible for weighted deduction in Part B of Form No. 3CL Within 120 days of submission of audit report
35ABA(3) Withdrawing deduction claimed and granted to the assessee under section 35ABA, if subsequently there is a failure to comply with the provisions specified in said section Within 4 years from the end of the previous year in which the failure to comply with the conditions referred to in section 35ABA takes place
44AB Getting accounts audited by accountant and furnishing report Due date for furnishing the return of income under section 139(1)
80QQB Receiving or bringing into India in convertible foreign exchange, income by way of royalty or copyright fees, earned outside India Within 6 months from end of the year or such extended period as the Competent Authority may allow in this behalf
80RRB Receiving or bringing into India in convertible foreign exchange, income by way of royalty on patents, earned outside India Within 6 months from end of the year or such extended period as the Competent Authority may allow in this behalf
92CA(3A) Passing of order u/s 92CA(3) by Transfer Pricing Officer At least sixty days before the period of limitation referred to in section 153 or section 153B, as the case may be, for making the order of assessment or reassessment or recomputation, or fresh assessment, expires.

Note: If time available with TPO for making an order is less than sixty days, after excluding the time

– for which assessment proceedings are stayed or

 – taken for receipt of information from foreign jurisdiction

then such remaining period shall be extended to 60 days. [Inserted by the Finance Act, 2016 w.e.f 1-6-2016]

90/90A/91 Furnishing Form no. 67 and certificate or statement referred to in Rule 128 with respect to Foreign Tax Credit On or before due date for furnishing return of income under section 139(1)
92CD(1) Submission of modified return in accordance with and limited to advance pricing agreement (applicable from 1-7-2012) Within 3 months from the end of the month in which advance price agreement was entered
92CD(5)(a) Passing assessment /reassessment /recomputation order under section 92CD(3) in respect of modified return (applicable from 1-7- 2012) Within 1 year from the end of the financial year in which modified return is furnished
92D Furnishing information/documents required by revenue authorities Within a period of 30 days from the date of receipt of a notice issued in this regard, and such period may be extended by a further period not exceeding 30 days
92E Furnishing report of accountant 30th November of relevant assessment year
115BA Option to opt for concessional tax rate of 25% by certain domestic companies On or before due date of furnishing return of income under section 139(1)
115BBF(3) Exercising option for taxation of royalty income in respect of patent developed and registered in India for any previous year in accordance with the provisions of section 115BBF(1) On or before the due date of submission of return of income under section 139(1) (applicable from the assessment year 2017-18)
115JB(4) Obtaining a certificate from a chartered accountant in Form No. 29B pertaining to computation of book profit in the case of a company On or before the due date of submission of return of income under section 139(1)
115JC(3) Obtaining a certificate from a chartered accountant in a prescribed form pertaining to computation of alternate minimum tax and adjusted total income in the case of a limited liability partnership On or before the due date of submission of return of income under section 139(1)
115JG(3) Recomputing income to withdraw the benefit, exemption or relief claimed under section 115JG(1) in case of failure to comply with the conditions of RBI scheme or notification of the Government (applicable from the assessment year 2013-14) Within 4 years from the end of the previous year in which failure to comply with condition takes place
115-O(3) Deposit of tax on distributed profits of domestic companies Within 14 days from date of declaration, distribution or payment of dividends whichever is earlier
115QA(3)(From 1/06/2013) Deposit of tax to credit of Government in case of distributed income of domestic company for buy-back of shares Deposit of tax on distributed income of UTI/Mutual Fund Within 14 days from date of payment of any consideration to the shareholder on buy-back of shares Within 14 days from the date of distribution or payment of income, whichever is earlier
115R(3A) [Omitted with effect from assessment year 2015-16] Furnishing statement in prescribed form to prescribed income-tax authority giving details of income distributed to unit holders, tax paid thereon, etc. On or before 15th September in each year
115TA(2) (From 1/06/2013) Deposit of tax to credit of Government in case of income distributed by securitization trust Within 14 days from date of distribution or payment of such income, whichever is earlier
115TA(3) [Omitted with effect from assessment year 2015-16] Person responsible for making payment of income distributed by securitisation trust to furnish to prescribed income-tax authority, statement in prescribed form and verified in prescribed manner giving details of amount of income distributed to investors during the year, the tax paid thereon and other relevant prescribed details On or before 15th September in each year
115TCA(4) Furnishing statement to PCIT/CIT of income paid or credited by a securitisation trust in Form No. 64E November 30 immediately after the end of the financial year
Furnishing statement to investors of income distributed by a securitisation trust in Form No. 64F June 30 immediately after the end of the financial year
115TD(1) Transfer of all assets in case of dissolution of a charitable trust to another charitable trust to avoid tax on accreted income Within 12 months from the end of the month in which dissolution takes place (applicable from June 1, 2016)
115TD(5) Payment of tax on accreted income Within 14 days from the date of merger or the date on which the order cancelling the registration is received or the date on which the order rejecting application for fresh registration is received, etc. (applicable from June 1, 2016)
115U(2) Person responsible for making payment of income on behalf of venture capital company/fund and venture capital company/fund to furnish to person receiving such income and to prescribed income-tax authority, statement in prescribed form and verified in prescribed manner, giving details of nature of income paid during the year and such other relevant details as may be prescribed 30th November of financial year following the year during which such income is distributed
115UA Any person responsible for making payment of income distributed on behalf of a business trust to a unit holder shall furnish a statement to the Principal Commissioner of Income-tax or Commissioner of Income-tax in Form No. 64A, giving details of income distributed during the year. On or before 30th November of financial year following the year during which such income is distributed
Any person responsible for making payment of income distributed on behalf of a business trust to a unit holder shall furnish a statement to this effect to the unit holder in Form No. 64B, On or before 30th June of financial year following the year during which such income is distributed
115UB(7) Person responsible for crediting or making payment of the income on behalf of an investment fund and the investment fund shall furnish, to the person who is liable to tax in respect of such income and to the prescribed income-tax authority, a statement in the prescribed form and verified in such manner, giving details of the nature of the income paid or credited during the previous year and such other relevant details as may be prescribed. November 30 immediately after the end of the financial year
115VP Opting for Tonnage Tax System (TTS)
– Existing qualifying company – Between 1-10-2004 and 31-12-2004
– Company incorporated after 1-1-2005 and being a qualifying company

– Existing company which becomes a qualifying company after 1-1-2005

Within 3 months of incorporation

Within 3 months of it becoming a qualifying company

115VP(4) Joint Commissioner passing order under subsection (4) of section 115VP Within one month from end of month in which application under section 115VP(1) was received
115VR Renewal of tonnage tax scheme Within one year from the end of the previous year in which the option ceases to have effect
115VY Opting for tonnage tax scheme by amalgamated company Within 3 months from the date of the approval of amalgamation
124(3) Challenging Assessing Officer’s jurisdiction a)Where a return is made under section 139(1), before expiry of 1 month from the date on which a notice under section 142(1) or 143(2) is served or before the completion of assessment, whichever is earlier
b) Where no return is made before the expiry of time allowed by notice under section 142(1) or under section 148 for making the return or under section 144 for showing cause why best judgment assessment should not be made, whichever is earlier
131(3) Retention of impounded books or documents by Assessing Officer/Assistant Director without obtaining approval of Principal Chief Commissioner or Chief Commissioner or Principal Director General or Director General or Principal Commissioner or Commissioner or Principal Director or Director Not more than 15 days (exclusive of holidays)
132(8) Retaining books of account or other documents seized under section 132(1) or 132(1A) by authorised officer without approval of Principal Chief Commissioner or Chief Commissioner or Principal Director General or Director General or Principal Commissioner or Commissioner or Principal Director or Director Not more than 180 days [30 days from the date of assessment order under section 153A or section 158BC(c)]
132(8A) Period for which order passed under section 132(3) to remain in force 60 days from date of order
132(9A) Handing over of books, etc., to ITO having jurisdiction 60 days from date on which last of authorisations for search was executed
132(9B) Provisional attachment of property for protecting interest of revenue Within 60 days from the date on which the last of the authorisations for search was executed (applicable from April 1, 2017)
132(9C) Expiry of provisional attachment order made under section 132(9B) After the expiry of 6 months from the date of such order (applicable from April 1, 2017)
132(9D) Making a reference to valuation officer to estimate fair market value of property Within 60 days from the date on which the last of the authorisations for search was executed (applicable from April 1, 2017)
132B(1) Release of assets seized after recovery of existing liability Within 120 days from date on which last of the authorisations /requisitions under section 132/132A was executed
132B(1) first proviso Making application to Assessing Officer for release of asset explaining nature and source of acquisition of asset Within 30 days from end of the month in which asset was seized
133A(3) Retention by income-tax authority of impounded books of account, documents without approval of the Principal Chief Commissioner/Principal Director General/Chief Commissioner/Director General/Principal Commissioner/ Principal Director/Commissioner/Director Not more than 15 days (exclusive of holidays)
139(1) (a) Filing of return by any company other than covered in (c) below September 30 of the assessment year
(b) Filing return of income by any noncorporate taxpayer other than covered in (c) below :

(i) in the case where accounts are to be audited or where accounts of the firm in which taxpayer is a working partner are required to be audited

September 30 of relevant assessment year
(ii) in the case of a co-operative society September 30 of relevant assessment year
(iii) in other cases July 31 of relevant assessment year
(c) Filing of return where a taxpayer (corporate/non-corporate) is required to furnish a report in Form No. 3CEB under section 92E November 30 of the assessment year
139(3) Filing of return of loss Within the time allowed under section 139(1)
139(4) Filing belated return of income Before the end of the relevant assessment year or before completion of assessment, whichever is earlier.
139(4A) Filing return by every person receiving income in respect of which he is assessable as a representative assessee from property held under trust/legal obligation wholly or partly for charitable or religious purposes, etc., if total income exceeds maximum amount not chargeable to tax Within time allowed under section 139(1)
139(4B) Filing of return by every political party by its chief executive officer Within time allowed under section 139(1)
139(4C) Filing return by every (a) research association referred to in section 10(21), (b) news agency referred to in section 10(22B), (c) association or institution referred to in section 10(23A), (d) institution referred to in section 10(23B), (e) fund / institution / trust / university/other educational institution/ medical institution referred to in subclause (iiiad), (iiiae), (iv), (v), (vi) or (via) of section 10(23C), (ea) Mutual Fund referred to in section 10(23D), (eb) Securitisation Trust referred to section 10(23DA), (ec) venture capital company or venture capital fund referred to in section 10(23FB),(f) trade union/association referred to in sub-clause (a) or (b) of section 10(24), (g) anybody /trust /authority referred to in section 10(46) and (h) infrastructure debt fund referred to in section 10(47), if the total income without giving effect to the provisions of section 10 exceeds the maximum amount not chargeable to tax. Within time allowed under section 139(1)
139(4D) Filing return by every university, college or other institution referred to in section 35(1)(ii) and 35(1)(iii) which is not required to furnish return of income or loss under any other provisions Within time allowed under section 139(1)
139(4E) Filing return of income by every business trust which is not required to file return of income or loss under any other provisions Within time allowed under section 139(1)
139(5) Filing revised return Upto the end of the relevant assessment year or before the completion of assessment, whichever is earlier.
139(9) Rectifying defect in return of income Within 15 days from date of intimation by Assessing Officer or extended time
139A Filing application for allotment of permanent account number See rule 114(3)
140A(1) (i) Payment of income-tax on self-assessment Before furnishing return of income
(ii) Payment of interest and fee on tax due for filing belated return or default or delay in payment of advance tax Before furnishing return of income
142(1)(i) Where a person has not made a return of income before the end of the relevant assessment year, the Assessing Officer may serve a notice requiring him to furnish return of income. After the end of relevant assessment year
Notice referred to above served after the end of the relevant assessment year commencing on or after 1st April, 1990 shall be deemed to be a notice served in accordance with the provisions of the Act.
142A(6) Sending of report by the Valuation Officer to the Assessing Officer Within 6 months from the end of the month in which a reference is made by the Assessing Officer under section 142A(1).
143(1) Sending intimation under section 143(1) Before expiry of 1 year from end of financial year in which return is made
Second proviso to Section 143(1)(a) Sending objection in response to intimation for adjustments under section 143(1)(a) Within 30 days of issue of such intimation (applicable from the AY 2017-18)
143(2)(ii) Serving notice in case of understatement of income or under payment of tax for hearing for regular assessment/limited scrutiny assessment Before expiry of 6 months from end of financial year in which return is furnished
144BA(2) Furnishing objection by taxpayer to notice of invoking GAAR provisions by Commissioner (applicable from 1-4-2016) Within such period (but not exceeding 60 days) as specified in the notice
144BA(13) Issuing direction by Approving Penal under section 144BA(6) in respect of the declaration of an agreement as an impermissible avoidance arrangement under Chapter X-A (applicable from 1-4-2016) Within 6 months from the end of the month in which the reference under section 144BA(4) was received from the Principal Commissioner or Commissioner
144C(2) Filing of response by eligible taxpayer by (a) acceptance of variations to Assessing Officer, or (b) filing his objections, if any, to such variation with the Dispute Resolution Panel and the Assessing Officer Within 30 days of receipt by taxpayer of draft order
144C(4) Passing of assessment order under section 144C(3) Within one month from end of month in which acceptance is received or period of filing objections under section 144C(2) expires
144C(12) Issue of directions under section 144C(5) Within 9 months from end of month in which draft order is forwarded to eligible taxpayer
144C(13) Completion of assessment on receipt of directions issued under section 144C(5) Within one month from end of month in which such direction is received
147 Reassessment where assessment has been made under section 143(3) or 147 Within 4 years from end of relevant assessment year [unless escapement of income is because of taxpayer’s failure to file return under section 139 or in pursuance of notice under section 142(1) or 148 or to disclose fully and truly all material facts or unless escapement of income is in relation to any asset located outside India]
149(1) Issuing notice under section 148 in cases subjected to scrutiny by way of assessment under section 143(3) or 147 :
If the escaped income—
(i) is less than Rs. 1,00,000 Within 4 years from end of relevant assessment year
(ii) is Rs. 1,00,000 or more Within 6 years from end of relevant assessment year
(iii) is in relation to any asset (including financial interest in any entity) located outside India Within 16 years from end of relevant assessment year
149(3) Issuing notice under section 148 to person who has been treated as agent of non-resident under section 163 Within 6 years from end of relevant assessment year
150 Issuing notice under section 148 for assessment/reassessment/recomputation pursuant to any finding or direction in an order passed : No time limit
(i) by any authority in any proceeding under Income-tax Act in appeal/reference/revision

(ii) by a court in any proceeding under any other law

153(1) Passing assessment order under section 143 or 144 a) Within 21 months from end of the assessment year in which income was first assessable. [Applicable for assessment year 2017-18 or before]

b) Within 18 months from end of the assessment year in which income was first assessable. [Applicable for assessment year 2018-19]

c) Within 12 months from end of the assessment year in which income was first assessable. [Applicable for assessment year 2019-20 and onwards]

Note: If reference is made to TPO, the period available for assessment shall be extended by 12 months

153(2) Making assessment/reassessment, etc., under section 147 a) Within 9 months from end of the financial year in which notice under section 148 was served. [if notice is served before 01-04- 2019]

b) Within 12 months from end of the financial year in which notice under section 148 was served. [if notice is served on or after 01- 04-2019]

Note: If reference is made to TPO, the period available for reassessment shall be extended by 12 months.

153(3) An order of fresh assessment in pursuance of order under section 254, 263 or 264 setting aside or cancelling assessment a) Within 9 months from end of the financial year in which order under section 254 is received by

– Principal Chief Commissioner or

– Chief Commissioner or

– Principal Commissioner or

– Commissioner or,

– as the case may be an order under section 263/264 is passed by Principal Commissioner or Commissioner

b) Within 12 months from the end of the financial year in which order under section 254 is received or order under section 263 or 264 is passed by the authority. [if order is passed on or after financial year 2019-20]

Note: If reference is made to TPO, the period available for assessment shall be extended by 12 months.

Giving effect to an order [under Section 250/254/260/262/263/264] by AO wholly or partly, otherwise than by making a fresh assessment or reassessment Within a period of 3 months from the end of the month in which order is received by

– Principal Chief Commissioner or

– Chief Commissioner or

– Principal Commissioner or

– Commissioner,

– As the case may be the order under Section 263/264 is passed by the Principal Commissioner or Commissioner

Note:

1) If it is not possible to give effect to such order within the aforesaid period, the Principal Commissioner or Commissioner may allow an additional period of 6 months to AO.

2) If verification on any issue was required by way of submission of any document or where an opportunity of being heard is to be provided to assessee. Then order shall be made within the time specified in 153(3) [Inserted by Finance Act 2017, w.e.f. 1.6.2017]

153(6)(i) An order of assessment, reassessment or recomputation on assessee or any person in consequence of or to give effect to any finding or direction contained in

 – An order under Section 250/254/260/262/263/264 or

– An order of any court in a proceedings otherwise than by way of appeal or reference

 [Inserted by the Finance Act, 2016 w.e.f. 1-6- 2016]

Within 12 months from the end of the month in which such order is received or passed by the Principal Commissioner or Commissioner, as the case may be
153(6)(ii) An order of assessment on a partner of the firm in consequence of an assessment made on the firm under Section 147. [Inserted by the Finance Act, 2016 w.e.f. 1-6- 2016] Within 12 months from the end of the month in which the assessment order in case of firm is passed.
153B Passing assessment order under section 153A a) Within a period of 21 months from end of the financial year in which the last of the authorizations for search/requisition under section 132/132A was executed. This period cannot be less than 9 months from the end of the financial year in which books of account, etc., are handed over under section 153C to the concerned Assessing Officer.(if search conducted in the financial year 2017-18 or before)

b) Within a period of 18 months from end of the financial year in which the last of the authorizations for search/requisition under section 132/132A was executed. This period cannot be less than 12 months from the end of the financial year in which books of account, etc., are handed over under section 153C to the concerned Assessing Officer. (if search conducted in the financial year 2018-19)

c) Within a period of 12 months from end of the financial year in which the last of the authorizations for search/requisition under section 132/132A was executed. This period cannot be less than 12 months from the end of the financial year in which books of account, etc., are handed over under section 153C to the concerned Assessing Officer. (if search conducted in the financial year 2019-20 or onwards)

Passing of assessment order where a proceeding before the Settlement Commission abates under section 245HA One year after the exclusion of the period under 245HA(4) and where such period of limitation is less than one year, it shall be deemed to have been extended to one year
154 Rectifying any mistake apparent from record by income-tax authority referred to in section 116 to— Within 4 years from end of financial year in which order sought to be amended is passed, or within 6 months from the end of the month in which the application is received by the income-tax authority, whichever is earlier
(i) amend any order passed by it
(ii) amend any intimation or deemed intimation under section 143(1)
(iii) amend any intimation under section 200A(1)
155(1)/(2) Amending assessment order of partner of firm or member of AOP/BOI for inclusion of correct share from firm/AOP/BOI Within 4 years from end of financial year in which final order is passed in case of firm/AOP/BOI
155(1A) Amending assessment order of partner for adjusting income from firm to the extent not deductible under section 40(b) Within 4 years from end of financial year in which final order was passed in case of the firm
155(4) Recomputing total income for succeeding year(s) in respect of loss or depreciation recomputed under section 147 Within 4 years from end of financial year in which order under section 147 is passed
155(4A) Withdrawing investment allowance allowed under section 32A if—
(a) asset is sold/transferred within 8 years from end of the year in which it was acquired

(b) investment allowance reserve is not utilised for acquiring new asset within 10 years of end of the year in which asset was acquired

Within 4 years from end of the year in which sale/transfer took place

Within 4 years from end of said 10 years

(c) reserve is misutilised before expiry of 10 years of end of the year in which asset was acquired Within 4 years from end of the year in which amount is so misutilised
155(5) With drawing development rebate under section 33 if asset is sold within 8 years or reserve is misutilised. Within 4 years from end of previous year in which sale took place or reserve is so misutilised
155(5A) Withdrawing development allowance under section 33A if within 8 years land is sold or reserve is misutilised Within 4 years from end of the year in which sale took place or reserve is so misutilised
155(5B) Recomputing total income where weighted deduction in respect of expenditure on scientific research under section 35(2B) is deemed to have been wrongly allowed Within 4 years from end of the year in which period allowed for completion of scientific research programme has expired
155(7) Recomputing distributable income and additional tax liability under section 104 Within 4 years from end of financial year in which final order was passed
155(7B) Recomputing deemed capital gains under section 47A Within 4 years from end of the year in which capital asset is converted into stock-in-trade or in which parent company/holding company ceases to have 100 per cent shareholding in subsidiary company
155(10A) Amending order of assessment so as to exclude unadjusted amount of capital gain on long-term capital asset not chargeable under section 54E(1) Within 4 years from end of financial year in which original assessment is made
155(11) Amending order of assessment to exclude capital gain not chargeable under section 54H Within 4 years from end of the year in which compensation was received
155(11A) Amending order of assessment so as to allow deduction under section 10A, 10B or 10BA in respect of income received in or brought into India Within 4 years from end of the year in which such income is received in, or brought into, India
155(12) Amending order of assessment to allow deduction under section 80-O Within 4 years from end of the year in which income is received or brought into India ; however, the period from 1-4-1988 to 30-9- 1991 shall be excluded
155(13) Amending order of assessment so as to allow deduction u/s 80HHB, 80HHC, 80HHD, 80HHE, 80-O, 80R, 80RR or 80RRA in respect of convertible foreign exchange earnings not brought into India initially but received or brought into India subsequently Within 4 years from the end of the year in which such income is so received in, or brought into India
155(14) Amending order of assessment/intimation under section 143(1) to give credit for tax deducted/collected not given earlier on ground that tax deduction/collection certificate was not filed with return Relevant tax deduction/collection certificate should be produced before Assessing Officer within 2 years from the end of assessment year in which income is assessable.
155(14A) Amending assessment order or intimation or deemed intimation so as to give foreign tax credit under section 90/90A/91 (earlier it was not given because the quantum of foreign tax was disputed) Within 6 months from the end of the month in which dispute is settled (applicable from the April 1, 2018)
155(15) Amending order of assessment so as to compute capital gain by taking the full value of consideration to be the value adopted/assessed by stamp duty authorities (section 50C) as revised in appeal/revision/reference Within 4 years from the end of the year in which the order revising the value was passed in that appeal/revision/reference
155(16) Amending order of assessment so as to compute capital gain on compulsory acquisition, etc., by taking the full value of consideration to be the compensation/consideration as reduced by any court, tribunal or other authority Within 4 years from the end of the year in which order reducing compensation was passed
155(17) Amending order of assessment so as to withdraw deduction under section 80RRB allowed earlier where by a subsequent order of the Controller/High Court the patent is revoked or the name of the taxpayer is excluded from the patents register as patentee in respect of that patent Within 4 years from the end of the year in which order of Controller/High Court was passed
158AA(1) Filing an application by the Assessing Officer to the Appellate Tribunal for the matter prescribed under section 158AA(1) Within a period of 60 days from date of receipt of order of Commissioner of Income-tax (Appeals)
158AA(4) Filing an appeal to the Appellate Tribunal in a case where order of the Commissioner of Income-tax (Appeals) under section 158AA(1) is not in conformity with the final decision of the Supreme Court on the question of law in the other case. Within a period of 60 days from date of communication of order of Supreme Court in the other case.
158BE(1) Passing of order under section 158BC Within a period of 2 years from the end of the relevant month (in a case of search or requisition which took place on or after 1-1- 1997).
158BE(2) Period of limitation for completion of block assessment in the case of other person referred to in section 158BD Within a period of 2 years from the end of the relevant month in which the notice under Chapter XIV-B was served (in a case of search or requisition which took place on or after 1-1- 1997).
158BFA(3) Passing order for imposing penalty under section 158BFA(2) In a case where the assessment is the subjectmatter of an appeal to the Commissioner of Income-tax (Appeals) under section 246 or section 246A or an appeal to the Appellate Tribunal under section 253, after the expiry of the financial year in which the proceedings, in the course of which action for the imposition of penalty has been initiated are completed or six months from the end of the month in which the order of the Commissioner of Income-tax (Appeals) or as the case may be, the Appellate Tribunal is received by the Principal Chief Commissioner/Principal Commissioner/Chief Commissioner or Commissioner, whichever period expires later. In a case where the assessment is the subjectmatter of revision under section 263, after the expiry of six months from the end of the month in which such order of revision is passed. In any case other than above, after the expiry of the financial year in which the proceedings in the course of which action for the imposition of penalty has been initiated are completed or six months from the end of the month in which action for imposition of penalty is initiated, whichever period expires later.
160(1), Explanation 1 Filing declaration by trustee(s) for converting ‘oral trust’ into ‘trust declared by a duly executed instrument in writing’ Within 3 months from date of declaration of ‘oral trust’
Section 172(3) Return of full amount paid or payable to nonresident owner or charterer of ship towards passenger fares, freight, etc., to be furnished by master of ship to Assessing Officer Before departure of ship from any port in India, or within 30 days thereafter if permitted by Assessing Officer
172(4A) Passing order, assessing income and determining tax payable thereon under section 172(4). Within 9 months from end of financial year in which return under section 172(3) is furnished (by 31-12-2008 where return is furnished before 1-4-2007)
172(7) Submission of claim by owner or charterer of ship that assessment be made and tax payable by him be determined in accordance with other provisions of the Act Before expiry of assessment year relevant to the year in which ship has departed from Indian port
176(3) Giving notice of discontinuance of business/profession to Assessing Officer Within 15 days of discontinuance
178(1) Giving notice of appointment as liquidator to Assessing Officer Within 30 days of appointment
178(2) Notifying liquidator as to amount of tax payable by company Within 3 months from date on which Assessing Officer receives notice of appointment of liquidator
184 Filing certified copy of partnership deed Along with return of income of the firm of the previous year relevant to the assessment year in respect of which assessment as a firm is first sought.
192 Filing return of deduction of tax from contributions paid by the trustees of an approved superannuation fund Within 2 months from end of financial year
194C(7) Person responsible for paying/ crediting any sum to contractor during course of business of plying, hiring or leasing goods carriages to furnish prescribed particulars to prescribed income-tax authority Within such time as may be prescribed
197A(2) Delivering to Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner one copy of declaration required to be filed under section 197A(1) or 197A(1A) or 197A(1C) n or before the 7th day of the month next following the month in which declaration is furnished
200(1) Paying tax deducted at source under sections 192 to 196D Within time limit as prescribed under rule 30
200(3) Preparation and filing of prescribed statements of tax deducted for periods ending on June 30, September 30, December 31 and March 31 On or before 31st July, 31st October, 31st January of the financial year in respect of quarter ending 30th June, 30th September and 31st December and in respect of quarter ending 31st March, on or before 31st May of the financial year immediately following the financial year in which deduction is made
Where deduction is made under section 194- IA/194-IB: Within 30 days from the end of the month in which deduction is made.
200A Intimation under section 200A(1) Within one year from end of financial year in which statement is filed
201(3) Order deeming a person to be an assessee in default for failure to deduct whole or any part of tax from a person resident in India Within 7 years from the end of the financial year in which payment is made or credit is given, whether the statement is filed or not.
203 Issuance of certificate of tax deducted at source Form No. 16: By 15th June of the financial year immediately following the financial year in which income was paid and tax deducted.
Form No. 16A: On or before 15th August, 30th November, 30th February of the financial year in respect of quarters ending 30th June, 30th September & 31st December respectively of the financial year. For quarter ending 31st March, on or before 15th June of the financial year immediately following the financial year in which deduction is made Form No. 16B (Section 194-IA): Within 15 days from the due date for furnishing challan cum statement in Form No. 26QB (i.e., within 30 days from the end of the month in which deduction is made)
Form No. 16C (Section 194-IB): Within 15 days from the due date for furnishing challan cum statement in Form No. 26QB (i.e. within 30 days from the end of month in which deduction is made)
203A Payer to apply to Assessing Officer for allotment of Tax Deduction and Collection Account Number Within one month from the end of the month in which tax was deducted or collected, as the case may be
203AA Issuance of TDS Certificate within the prescribed time after the end of the financial year beginning on or after 1-4-2008 by the prescribed income-tax authority or person authorised by such authority. 31st July following financial year during which taxes were deducted or paid (Form No. 26AS)
206(4) Rectifying defect in return filed under section 206(2) Within 15 days from the date of intimation of the defect by Assessing Officer or extended time
206A(1) Furnishing of prescribed statement in respect of payment of interest to residents without TDS by banking company, co-operative society or public company referred to in proviso to section 194A(3)(i) On or before 31st July, 31st October, 31st January and 30th June following respective quarter of financial year
206A(2) Furnishing of prescribed statement by persons notified by Central Government Within such time as may be prescribed.
206C(3) Payment of tax collected from the respective buyers of specified goods under section 206C(1) to the credit of Central Government or as the Board directs Within time limit as prescribed in rule 37CA
206C(3) (proviso) Preparation and filing of prescribed statements of tax collected for periods ending on June 30, September 30, December 31 and March 31 On or before 15th July, 15th October, 15th January in respect of first three quarters of the financial year. In respect of quarter ending 31st March, on or before 15th May of the financial year immediately following the financial year in which collection is made (Form No. 27EQ)
206C(5) Person collecting tax under section 206C(1) from respective buyers to give them a certificate in Form 27D about the amount and rate of tax collected, etc. On or before 30th July, 30th October, 30th January of the financial year in respect of the quarter ending 30th June, 30th September and 31st December of the financial year. For quarter ending 31st March, on or before 30th May of the financial year immediately following the financial year in which collection is made
206C(5)(2nd proviso) Prescribed income-tax authority or person authorised by such authority to prepare and deliver to buyer/licensee/lessee, a statement in the prescribed form specifying amount of tax collected or paid after the end of each financial year beginning on or after 1-4-2008 31st July following the financial year during which taxes were collected or paid (Form No. 26AS)
206C(5D) Rectifying defect in return filed Within 15 days from the date of intimation of the defect by Assessing Officer or extended time
206CB(1) Sending the Intimation specifying the amount payable/refundable under section 206CB(1)(d) Within a period of one year from end of financial year in which statement under section 206C is filed
211(1) Payment of advance tax in specified installments:
(a) In case of all the assessees (other than the eligible assessees as referred to in section 44AD) :
(i) Up to 15 per cent On or before 15th June
(ii) Up to 45 per cent On or before 15th September
(iii) Up to 75 per cent On or before 15th December
(iv) Up to 100 per cent

(b) In case of eligible assessee as referred to in Section 44AD and 44ADA

On or before 15th March
(i) Up to 100 per cent On or before 15th March
Note: Any advance tax paid on or before 31st day of March shall also be treated as paid during the same financial year [Inserted by the Finance Act, 2016 w.e.f. 1-6-2016]
211(2) Payment of the appropriate part or whole amount of advance tax as demanded under section 210(3) and (4) after the due dates of instalment On or before each date specified in section 211(1) falling after date of service of demand notice
220(1) Payment of amount other than advance tax in response to notice under section 156 Within 30 days of service of demand notice or within date extended on request or within shorter period, specified in revenue’s interest
220(2A) Order accepting/rejecting the application of assessee for waiver of interest payable under section 220(2) Within 12 months from the end of the month in which the application is received (applicable from June 1, 2016)

Note: Order pertaining to an application pending as on June 1, 2016 can be passed on or before May 31, 2017

239(2)(c) Order accepting/rejecting the application of assessee for waiver of interest payable under section 220(2) Within 12 months from the end of the month in which the application is received (applicable from June 1, 2016)

Note: Order pertaining to an application pending as on June 1, 2016 can be passed on or before May 31, 2017

239(2)(c) Making claim for refund Within 1 year from last day of relevant assessment year
245C(1) Application for settlement of case to Settlement Commission At any stage during the pendency of a case before the Assessing Officer
245C(1E) Application for settlement before Settlement Commission under sub-section (1) where books of account, documents, etc., have been seized Not before 120 days of seizure
245D(1) Rejecting/allowing the application for settlement Within 7 days, notice shall be issued to the applicant to justify admission of his application; within 14 days from the receipt of application, the order pertaining to rejecting/allowing the application shall be made
245D(2B) Calling report by the Settlement Commission from Principal Commissioner or Commissioner Within 30 days from the date of receipt of application
Submission of report by the Principal Commissioner or Commissioner to Settlement Commission Within 30 days from the date of communication from the Settlement Commission
245D(2C) Declaring application as invalid by the Settlement Commission Within 15 days from the date of receipt of report from the Principal Commissioner or Commissioner
245D(3) Furnishing a report by the Principal Commissioner or Commissioner to the Settlement Commission in the matters covered by the application Within 90 days from the date of receipt of communication from the Settlement Commission
245D(4A) Passing order of settlement Within 18 months from the end of the month in which the application was made, if is application made on or after 1-6-2010 (12 months if application is made between 1-6-2007 and 31-5- 2010) (In respect of applications referred to in section 245D(2A) to (2D) : on or before 31-3- 2008)
245D(6B) Rectification application by the Principal Commissioner/Commissioner/Applicant to the Settlement Commission Within a period of six months from the end of the month in which the order under section 245D(4) is passed.
Amendment to any order of Settlement Commissioner to rectify any mistake apparent from the record. Within a period of six months from the date on which the order under section 245D(4) is passed or Within a period of six months from the end of the month in which the application for rectifying any mistake apparent from the record has been made by the Principal Commissioner / Commissioner / Applicant.
245D(7) Completion of proceedings where settlement becomes void as provided in section 245D(6) Within 2 years from the end of the financial year in which the settlement becomes void
245E, proviso Reopening of completed proceedings by Settlement Commission if an application is made before 1-6-2007 Reopening of proceeding is not possible where period between end of assessment year to which proceeding relates and the date of application for settlement under section 245C exceeds 9 years
245Q(3) Withdrawing application for advance ruling Within 30 days from date of application
245R(6) Pronouncement of advance ruling by authority Within 6 months of receipt of application
249(2)/(3) Filing appeal to Commissioner (Appeals)-
a) Relating to tax deducted at source under section 195 Within 30 days from date of payment of tax or within extended time
b) Relating to any assessment or penalty Within 30 days from date of service of demand notice or within extended time
c) In any other case Within 30 days from date of communication of order or within extended time
250(6A) Disposal of appeal by Commissioner (Appeals) One year from end of financial year in which appeal is filed (where it is possible)
253(3)/(5) Filing appeal to Tribunal Within 60 days from date on which order sought to be appealed against is communicated or within extended time [30 days in case of appeal against order u/s 158BC(c), in respect of search initiated u/s 132 or requisition made u/s 132A, after 30-6-1995, but before 1-1-1997]
253(3A) Filing appeal by Principal Commissioner or Commissioner to Tribunal if he objects to any direction issued by Dispute Resolution Panel Within 60 days of the date on which the order sought to be appealed against is passed by the Assessing Officer in pursuance of directions of the Dispute Resolution Panel
253(4)/(5) Filing memo of cross-objections to Tribunal Within 30 days of receipt of notice of filing appeal or within extended time
254(2) Rectification of apparent mistake by Tribunal Within 6 months from the end of the month in which the order was passed [Inserted by the Finance Act, 2016 w.e.f. 1-6-2016]
254(2A) Disposal of appeal by Appellate Tribunal filed under sub-section (1)/(2) of section 253 filed under sub-section (1)/(2) of section 253 4 years from end of financial year in which appeal is filed (where it is possible). Where an order of stay is made in proceedings relating to appeal filed under section 253(1), Tribunal shall dispose of appeal within 180 days from date of such order or within extended time not exceeding 365 days including original period of 180 days, failing which stay order shall stand vacated; this will be so even if delay in disposing of the appeal is not attributable to taxpayer.
256(1) (i) Filing application to Tribunal requiring it to refer to High Court any question of law Within 60 days of service of Tribunal’s order under section 254 or within extended period not exceeding 30 days.
(ii) Drawing up statement of case and referring it to High Court by Tribunal Within 120 days of receipt of application
256(2) Filing application to High Court if Tribunal refuses to state case Within 6 months from date of service of notice of refusal to state case
256(3) Application by assessee for claiming refund of fee after Tribunal’s refusal to state case Within 30 days from date of receipt of refusal notice
260A Filing appeal to High Court against order of Tribunal Within 120 days of date of communication of order
Note: High Court can admit an appeal after the expiry of the said period of 120 days if it is satisfied that there was sufficient cause for not filing the appeal within the said period.
263(2) Revising orders prejudicial to revenue by Principal Commissioner or Commissioner Within 2 years from end of financial year in which order sought to be revised was passed
263(3) Revision by Principal Commissioner or Commissioner of orders passed pursuant to any finding or direction by Tribunal, National Tax Tribunal, High Court or Supreme Court No time limit
264(2) Revision of orders by Principal Commissioner or Commissioner on his own motion (not prejudicial to taxpayer) Within 1 year of order sought to be revised
264(3) Filing revision petition to Principal Commissioner or Commissioner (order not to be prejudicial to taxpayer) Within 1 year from date of communication of order sought to be revised or date of his knowledge in respect thereof or within extended time
264(6) Passing order on revision application made by taxpayer on or after 1-10-1998 Within 1 year from the end of the financial year in which application is made
270AA(2) Application to the Assessing Officer to grant immunity from imposition of penalty under section 270A and initiation of proceedings under section 276C or under section 276CC Within one month from the end of the month in which such order is received
270AA(4) Passing an order by the Assessing Officer granting immunity from passing of penalty, etc., under section 270AA(3) Within one month from the end of the month in which application under section 270AA(1) is received
271GB(4)(b) Time-limit for informing the inaccuracy in report furnished under section 286 and furnish correct reportto the prescribed authority to avoid penalty Within a period of fifteen days of discovery of inaccuracy
273A(4A) Passing order for accepting or rejecting the application filed under section 273A(4), in full or in part, to reduce or waive the penalty Within a period of twelve months from the end of the month in which the application is received by the Principal Commissioner or the Commissioner

(such order can be passed on or before May 31, 2017 in case of application pending as on June 1, 2016)

273AA(3A) Passing order by the Principal Commissioner or the Commissioner accepting or rejecting the application filed under section 273AA(1) in full or in part, to grant immunity from penalty. Within a period of twelve months from the end of the month in which the application is received by the Principal Commissioner or the Commissioner

(such order can be passed on or before May 31, 2017 in case of application pending as on June 1, 2016)

275 Imposing penalties under Chapter XXI :
(a) in a case where appeal is filed to Commissioner (Appeals)/Tribunal Before the expiry of financial year in which proceedings which give rise to penalty proceedings are completed, or within 6 months from end of month in which the order of Commissioner (Appeals)/Tribunal is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, whichever period expires later.

However, where order is in appeal before Commissioner (Appeals) who passes appellate order on or after 1-6-2003, order imposing penalty shall be passed before expiry of financial year in which the proceedings, in the course of which action for imposition of penalty has been initiated, are completed, or within one year from the end of the financial year in which the order of the Commissioner (Appeals) is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, whichever is later.

(b) in a case where relevant assessment or other order is subject- matter of revision under section 263 (or section 264) Within 6 months from the end of month in which revision order is passed
(c) in any other case Before expiry of financial year in which proceedings (in course of which action for imposition of penalty has been initiated) are completed, or within 6 months from end of month in which penal action is initiated, whichever is later
275(1A) Imposing/enhancing/reducing/cancelling penalty or dropping penalty proceedings on the basis of revised assessment after giving effect to appellate/court/revision order in a case where relevant order is subject matter of appeal to Commissioner (Appeals)/Tribunal/High Court/Supreme Court or revision and an order imposing or enhancing or reducing or cancelling penalty or dropping proceedings for imposition of penalty is passed before the order of the Commissioner (Appeals)/Tribunal/High Court/Supreme Court is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or order of revision is passed Within 6 months from end of the month in which order of Commissioner (Appeals)/Tribunal/ High Court/Supreme Court is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or order of revision is passed
281B(2) Provisional attachment of assets of taxpayer Attachment shall cease to have effect after expiry of six months (extendable upto 2 years or up to 60 days after the date of assessment or reassessment, whichever is later) from date of order
281B(4) Submitting report by Valuation Officer to determine fair value of property provisionally attached by AO. [Inserted by the Finance Act, 2016 w.e.f. 1-6-2016] Within a period of 30 days from the date of receipt of such reference
281B(5) An order revoking the provisional attachment of property on furnishing of Bank Guarantee. (subject to conditions) [Inserted by the Finance Act, 2016 w.e.f. 1-6-2016] – Within 45 days from the date of receipt of the bank guarantee, where a reference to the Valuation Officer has been made or

– Within 15 days from the date of receipt of bank guarantee in any other case.

281B(7) Invoking Bank Guarantee by AO if the assessee fails to renew the guarantee or fails to furnish a new Guarantee

[Inserted by the Finance Act, 2016 w.e.f. 1-6-2016]

15 days before the expiry of the Guarantee.
285 Preparation and delivery of statement in prescribed form containing prescribed particulars by non-resident having liaison office in India set up in accordance with guidelines issued by RBI under FEMA, 1999 May 30 after the end of the financial year.
285B Furnishing of statement by film producers Within 30 days from end of financial year or within 30 days from date of completion of film, whichever is earlier
285BA Filing of statement of financial transaction or reportable account (Previously called as ‘Annual Information Return’) To be prescribed
285BA(4) Rectifying defect in statement of financial transaction or reportable account filed under section 285BA as required by prescribed income-tax authority Within 30 days(or such extended time as may be allowed on application) from date of intimation of defect
285BA(5) Furnishing of statement under section 285BA in response to notice from prescribed income-tax authority by person who has failed to furnish statement within time Within period not exceeding 30 days from date of service of notice.
286(2) Furnish a report for every reporting accounting year by a parent entity or the alternate reporting entity, resident in India, to the prescribed authority in respect of the international group of which it is a constituent. Within a period of 12 months from the end of said reporting accounting year.
286(6) Producing information/document to the prescribed authority for the purpose of determining accuracy of report furnished by any reporting entity Within thirty days of the date of receipt of the notice

(Prescribed authority on an application made by reporting entity may extend the period of thirty days by a further period not exceeding thirty days)

Securities Transaction Tax [Finance (No. 2) Act, 2004]
101 Filing of return by recognised stock exchange or mutual fund On or before June 30 after the end of financial year
102 Making assessment Within 2 years from the end of relevant financial year
103 Rectification of mistake Within one year from the end of the financial year in which the order sought to be amended was passed
110 Filing appeal to Commissioner (Appeals) Within 30 days from the date of receipt of order of the AO
111 Filing appeal to Tribunal Within 60 days from the date on which the order sought to be appealed is communicated.

 

Tags:

More Under Income Tax

0 Comments

  1. Dr. Ratnakar Gedam says:

    Just for the benefits of reader, it may be noted that though compilation is worth appreciating, the period mention is for compliance of the order or notice issued by the Income Tax authorities under relevant provisions do not constitute the “period of limitation” but it is period of compliance with time limit prescribed for speedy disposal of the case concerned. There is separate Act of the Parliament called “Limitation Act 1963″ in which period for different offences is prescribe. Under its section 3 it is defined that

    3. Bar of limitation

    (1) Subject to the provisions contained in sections 4 to 24 (inclusive) (of the Limitation Act 1963”, every suit instituted, appeal preferred, and application made after the prescribed period shall be dismissed although limitation has not been set up as a defence.

    The income tax matters are not explicitly covered by the Limitation Act 1963, but only matters related to Accounts are covered and period of the limitation is “three years”. However, Income Tax matters not more than 6 years old could be opened by the Income Tax authorities.

Leave a Comment

Your email address will not be published. Required fields are marked *