Period of limitation prescribed under the Income-tax Act

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 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 Within a period of two months from the end of
the amount invested in each year accountant in each financial year
case of zero coupon bond.

Section 9A
Furnish a statement by every eligible Within a period of 90 days from the end of
investment containing information relating to financial year
the fulfilment of the relevant conditions or any
information or document which may be
prescribed.

Section 10(23C)
Making an order accepting/rejecting application made
under first proviso for grant of exemption under subclause (iv)/(v)/(vi)/(via)
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)

Within 12 months from end of month

in which application was received
On or before 30th September of
relevant assessment year

[As amended by Finance Act, 2015]

Section 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)

Section 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)

Section 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)

Section 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.

Section 12AA
Passing an order granting or refusing registration Within 6 months from the end of the month in
of trust
which application u/s 12A(1)(aa) is received

[As amended by Finance Act, 2015]

Section 35
Order accepting/rejecting application made under Within 12 months from end of month in which
first proviso to section 35(1) for grant of approval such application was received
under section 35(1)(ii)/(iii)

Section 44AB
Getting accounts audited by accountant and Due date for furnishing the return of income
furnishing report
under section 139(1)

Section 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

Section 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

Section 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.

Section 92CD(1)
Submission of modified return in accordance Within 3 months from the end of the month in
with and limited to advance pricing agreement which advance price agreement was entered
(applicable from 1-7-2012)
Section 92CD(5)(a)
Passing assessment /reassessment /recomputation Within 1 year from the end of the financial year
order under section 92CD(3) in respect of in which modified return is furnished
modified return (applicable from 1-7-2012)

[As amended by Finance Act, 2015]

Section 92D
Furnishing information/documents required by Within a period of 30 days from the date of
revenue authorities
receipt of a notice issued in this regard, and
such period may be extended by a further
period not exceeding 30 days

Section 92E
Furnishing report of accountant

30th November of relevant assessment year

Section 115-O(3)
Deposit of tax on distributed profits of domestic Within 14 days from date of declaration,
companies
distribution or payment of dividends whichever
is earlier

Section 115QA(3)(From 1/06/2013)

Deposit of tax to credit of Government in case Within 14 days from date of payment of any
of distributed income of domestic company for consideration to the shareholder on buy-back of
buy-back of shares
shares

Section 115R(3)
Deposit of tax on distributed income of Within 14 days from the date of distribution or
UTI/Mutual Fund
payment of income, whichever is earlier

Section 115R(3A) [Omitted with effect from assessment year 2015-16]

Furnishing statement in prescribed form to On or before 15th September in each year
prescribed income-tax authority giving details
of income distributed to unit holders, tax paid
thereon, etc.

Section 115TA(2) (From 1/06/2013)

Deposit of tax to credit of Government in case Within 14 days from date of distribution or
of income distributed by securitization trust
payment of such income, whichever is earlier

[As amended by Finance Act, 2015]

Section 115TA(3) [Omitted with effect from assessment year 2015-16]

Person responsible for making payment of income On or before 15th September in each
distributed by securitisation trust to furnish to prescribed year
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
Section 115U(2)
Person responsible for making payment of income on 30th November of financial year
behalf of venture capital company/fund and venture following the year during which such
capital company/fund to furnish to person receiving such income is distributed
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
Section 115UA
Any person responsible for making payment of On or before 30th November of financial year
income distributed on behalf of a business trust following the year during which such income
to a unit holder shall furnish a statement to the is distributed
Principal Commissioner of Income-tax or
Commissioner of Income-tax in Form No.
64A, giving details of income distributed
during the year.
Any person responsible for making payment of On or before 30th June of financial year
income distributed on behalf of a business trust following the year during which such income
to a unit holder shall furnish a statement to this is distributed
effect to the unit holder in Form No. 64B,
Section 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 Within 3 months of incorporation

being a qualifying company
- Existing company which becomes a qualifying Within 3 months of it becoming a qualifying
company
company after 1-1-2005

[As amended by Finance Act, 2015]

Section 115VP(4)
Joint Commissioner passing order under sub- Within one month from end of month in which
section (4) of section 115VP
application under section 115VP(1) was
received

Section 124(3)
Challenging
jurisdiction

Assessing

Officer's 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
Section 131(3)

Retention of impounded books or documents by Assessing Not more than 15 days (exclusive of
Officer/Assistant Director without obtaining approval of holidays)
Principal Chief Commissioner or Chief Commissioner or
Principal Director General or Director General or Principal
Commissioner or Commissioner or Principal Director or
Director
Section 132(8)
Retaining books of account or other documents Not more than 180 days [30 days from the date
seized under section 132(1) or 132(1A) by of assessment order under section 153A or
authorised officer without approval of Principal section 158BC(c)]
Chief Commissioner or Chief Commissioner or
Principal Director General or Director General
or Principal Commissioner or Commissioner or
Principal Director or Director
Section 132(8A)
Period for which order passed under section 60 days from date of order
132(3) to remain in force

[As amended by Finance Act, 2015]

Section 132(9A)
Handing over of books, etc., to ITO having 60 days from date on which last
jurisdiction
authorisations for search was executed

of

Section 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

Section 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

Section 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)

Section 139(1)
(a) Filing of return by any company other than September 30 of the assessment year
covered in (c) below
(b) Filing return of income by any non-corporate
taxpayer other than covered in (c) below :
(i) in the case where accounts are to be audited September 30 of relevant assessment year
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
(iii) in other cases

July 31 of relevant assessment year

(c) Filing of return where a taxpayer November 30 of the assessment year

(corporate/non-corporate) is required to furnish
a report in Form No. 3CEB under section 92E

[As amended by Finance Act, 2015]

Section 139(3)
Filing of return of loss

Within the time allowed under section 139(1)

Section 139(4)

Filing belated return of income

Within 1 year from the end of the relevant

assessment year or before completion of
assessment, whichever is earlier
Section 139(4A)

Filing return by every person receiving income in Within time allowed under section 139(1)
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

Section 139(4B)
Filing of return by every political party by its Within time allowed under section 139(1)
chief executive officer

Section 139(4C)
Filing return by every (a) research association Within time allowed under section 139(1)
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 sub-clause (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

[As amended by Finance Act, 2015]

giving effect to the provisions of section 10

exceeds the maximum amount not chargeable
to tax.

Section 139(4D)
Filing return by every university, college or Within time allowed under section 139(1)
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

Section 139(4E)
Filing return of income by every business trust Within time allowed under section 139(1)
which is not required to file return of income
or loss under any other provisions

Section 139(5)
Within 1 year from the end of the relevant assessment
year or before the completion of assessment, whichever
is earlier

Filing revised return

Rectifying defect in return of income

Section 139(9)
Within 15 days from date of intimation by Assessing
Officer or extended time

Section 139A
Filing application for allotment of permanent See rule 114(3)
account number

Section 140A(1)
(i) Payment of income-tax on self-assessment Before furnishing return of income
(ii) Payment of interest on tax due for filing Before furnishing return of income
belated return or default or delay in payment of
advance tax

[As amended by Finance Act, 2015]

Section 142(1)(i)
Where a person has not made a return of income After the end of relevant assessment year
before the end of the relevant assessment year,
the Assessing Officer may serve a notice
requiring him to furnish return of income.
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.

Section 142A(6)
Sending of report by the Valuation Officer to the Within 6 months from the end of the month in
Assessing Officer
which a reference is made by the Assessing
Officer under section 142A(1).

Sending intimation under section 143(1)

Section 143(1)
Before expiry of 1 year from end of financial year in
which return is made

Section 143(2)(ii)
Serving notice in case of understatement of Before expiry of 6 months from end of financial
income or under payment of tax for hearing for year in which return is furnished
regular assessment/limited scrutiny assessment

Section 144BA(2)
Furnishing objection by taxpayer to notice of Within such period (but not exceeding 60 days)
invoking GAAR provisions by Commissioner as specified in the notice
(applicable from 1-4-2016)

Section 144BA(13)
Issuing direction by Approving Penal under Within 6 months from the end of the month in
section 144BA(6) in respect of the declaration which the reference under section 144BA(4)
of an agreement as an impermissible avoidance was received from the Principal Commissioner
arrangement under Chapter X-A (applicable or Commissioner
from 1-4-2016)

[As amended by Finance Act, 2015]

Section 144C(2)
Filing of response by eligible taxpayer by (a) Within 30 days of receipt by taxpayer of draft
acceptance of variations to Assessing Officer, or order
(b) filing his objections, if any, to such variation
with the Dispute Resolution Panel and the
Assessing Officer

Section 144C(4)
Passing of assessment order under section Within one month from end of month in which
144C(3)
acceptance is received or period of filing
objections under section 144C(2) expires

Section 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

Section 144C(13)
Completion of assessment on receipt of Within one month from end of month in which
directions issued under section 144C(5)
such direction is received

Section 147
Reassessment where assessment has been made Within 4 years from end of relevant assessment
under section 143(3) or 147
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]

Section 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

[As amended by Finance Act, 2015]

Within 4 years from end of relevant

assessment year
Within 6 years from end of relevant
(ii) is Rs. 1,00,000 or more
assessment year
(iii) is in relation to any asset (including financial Within 16 years from end of relevant
assessment year
interest in any entity) located outside India
(i) is less than Rs. 1,00,000

Section 149(3)
Issuing notice under section 148 to person who Within 6 years
has been treated as agent of non-resident under assessment year
section 163

from

end

of

relevant

Section 150
Issuing notice under section 148 for No time limit
assessment/reassessment/recomputation pursuant
to any finding or direction in an order passed :
(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

Section 153(1)
Passing assessment order under section 143 or Within 2 years from the end of the assessment
144
year in which income was first assessable.
However, in case any reference is made to
TPO then assessment can be completed by the
assessing officer within 36 months from the
end of the assessment year.

Section 153(2)
Making assessment/reassessment, etc., under Within 1 year from end of the financial year in
section 147
which notice under section 148 is served
Note: If notice for reassessment under section 148 is served on or after 1-4-2010 and during the
course of reassessment or proceedings for fresh assessment, a reference is made to TPO at any
time (may be before, on or after 1-7-2012), the assessment can be completed by the Assessing
Officer within 2 years from the end of the assessment year.

[As amended by Finance Act, 2015]

Section 153(2A)
Making assessment order in pursuance of order
Within 1 year from end of the financial
under section 250, 254, 263 or 264 setting aside
year in which order under section 250/254
or cancelling assessment
is
received
byPrincipal
Chief
Commissioner or Chief Commissioner or
PrincipalCommissioner or Commissioner
or an order under section 263/264 is passed
by Principal Chief Commissioner or Chief
Commissioner or Principal Commissioner
or Commissioner
Note: If order under section 254 is received by the Principal Commissioner or Commissioner on
or after 1-4-2010 or where an order under section 263 or 264 is passed by the Principal
Commissioner or Commissioner on or after 1-4-2010 and during the course of reassessment or
proceedings for fresh assessment, a reference is made to TPO at any time (may be before, on or
after 1-7-2012), the assessment can be completed by the Assessing Officer within 2 years from
the end of the assessment year.

Section 153(4)
Making assessment/reassessment relating to any
Within one year from the end of the
assessment year which has been revised under
month of revival or period given under
section 153A(2)
section 153 or 153B(1), whichever is later

Section 153B
Passing assessment order under section Within a period of 2 years from end of the
153A
financial year in which the last of the
authorisations for search/requisition under section
132/132A was executed. This period cannot be
less than 1 year from the end of the financial year
in which books of account, etc., are handed over
under section 153C to the concerned Assessing
Officer
Note: Where the last of the authorization for search under section 132/132A was executed on or
after 1-4-2009 and during the course of assessment/reassessment proceedings (or proceeding
referred to in section 153C), a reference is made to TPO at any time (may be before, on or after
1-7-2012), the assessment can be completed by the Assessing Officer within 3 years from the end
of the assessment year or 24 months from the end of the financial year in which books of account
or documents or assets seized or requisitioned are handed over under section 153C to the
Assessing Officer having jurisdiction over such other person, whichever is later.

[As amended by Finance Act, 2015]

Section 154
Rectifying any mistake apparent from record by Within 4 years from end of financial year
income-tax authority referred to in section 116 to in which order sought to be amended is
passed, or within 6 months from the end
(i) amend any order passed by it
of the month in which the application is
(ii) amend any intimation or deemed intimation received by the income-tax authority,
under section 143(1)
whichever is earlier
(iii) amend any intimation under section 200A(1)

Section 155(1)/(2)
Amending assessment order of partner of firm or
Within 4 years from end of financial
member of AOP/BOI for inclusion of correct share
year in which final order is passed in
from firm/AOP/BOI
case of firm/AOP/BOI

Section 155(1A)
Amending assessment order of partner for adjusting
Within 4 years from end of financial
income from firm to the extent not deductible under
year in which final order was passed in
section 40(b)
case of the firm

Section 155(4)
Recomputing total income for succeeding year(s)
Within 4 years from end of financial year
in respect of loss or depreciation recomputed
in which order under section 147 is passed
under section 147

Section 155(4A)
Withdrawing investment allowance allowed
under section 32A if
Within 4 years from end of the year in
(a) asset is sold/transferred within 8 years from
which sale/transfer took place
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 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

[As amended by Finance Act, 2015]

Section 155(5A)
Withdrawing development allowance under
Within 4 years from end of the year in
section 33A if within 8 years land is sold or
which sale took place or reserve is so
reserve is misutilised
misutilised

Section 155(5B)
Recomputing total income where weighted
Within 4 years from end of the year in
deduction in respect of expenditure on scientific
which period allowed for completion of
research under section 35(2B) is deemed to
scientific research programme has expired
have been wrongly allowed
Section 155(7)
Recomputing
distributable
income
and
Within 4 years from end of financial year in
additional tax liability under section 104
which final order was passed
Section 155(7B)
Recomputing deemed capital gains under
Within 4 years from end of the year in which
section 47A
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

Section 155(10A)
Amending order of assessment so as to exclude
Within 4 years from end of financial year in
unadjusted amount of capital gain on long-term
which original assessment is made
capital asset not chargeable under section
54E(1)

Section 155(11)
Amending order of assessment to exclude
Within 4 years from end of the year in which
capital gain not chargeable under section 54H
compensation was received

Section 155(11A)
Amending order of assessment so as to allow
Within 4 years from end of the year in
deduction under section 10A, 10B or 10BA in
which such income is received in, or
respect of income received in or brought into
brought into, India
India

[As amended by Finance Act, 2015]

Section 155(12)
Amending order of assessment to allow
Within 4 years from end of the year in which
deduction under section 80-O
income is received or brought into India ;
however, the period from 1-4-1988 to 30-91991 shall be excluded

Section 155(13)
Amending order of assessment so as to allow
Within 4 years from the end of the year in
deduction u/s 80HHB, 80HHC, 80HHD,
which such income is so received in, or
80HHE, 80-O, 80R, 80RR or 80RRA in
brought into India
respect of convertible foreign exchange
earnings not brought into India initially but
received or brought into India subsequently

Section 155(14)
Amending order of assessment/intimation under
Relevant
tax
deduction/collection
section 143(1) to give credit for tax
certificate should be produced before
deducted/collected not given earlier on ground
Assessing Officer within 2 years from the
that tax deduction/collection certificate was not
end of assessment year in which income is
filed with return
assessable.

Section 155(15)
Amending order of assessment so as to compute
Within 4 years from the end of the year in
capital gain by taking the full value of
which the order revising the value was
consideration to be the value adopted/assessed by
passed in that appeal/revision/reference
stamp duty authorities (section 50C) as revised in
appeal/revision/reference

Section 155(16)
Amending order of assessment so as to compute
Within 4 years from the end of the year
capital gain on compulsory acquisition, etc., by
in which order reducing compensation
taking the full value of consideration to be the
was passed
compensation/consideration as reduced by any
court, tribunal or other authority

Section 155(17)
Amending order of assessment so as to
Within 4 years from the end of the year in
withdraw deduction under section 80RRB
which order of Controller/High Court was

[As amended by Finance Act, 2015]

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

passed

Section 158AA(1)
Filing an application by the Assessing Officer Within a period of 60 days from date of receipt
to the Appellate Tribunal for the matter of order of Commissioner of Income-tax
prescribed under section 158AA(1)
(Appeals)

Section 158AA(4)
Filing an appeal to the Appellate Tribunal in a Within a period of 60 days from date of
case where order of the Commissioner of communication of order of Supreme Court in
Income-tax (Appeals) under section 158AA(1) the other case.
is not in conformity with the final decision of
the Supreme Court on the question of law in
the other case.

Section 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 1-11997).

Section 158BE(2)
Period of limitation for completion of block Within a period of 2 years from the end of the

assessment in the case of other person referred relevant month in which the notice under
Chapter XIV-B was served (in a case of search
to in section 158BD
or requisition which took place on or after 1-11997).

[As amended by Finance Act, 2015]

Section 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.

Section 160(1), Explanation 1

Filing declaration by trustee(s) for converting 'oral
Within 3 months from
trust' into 'trust declared by a duly executed
declaration of 'oral trust'
instrument in writing'

date

of

Section 172(3)
Return of full amount paid or payable to nonBefore departure of ship from any port
resident owner or charterer of ship towards
in India, or within 30 days thereafter if
passenger fares, freight, etc., to be furnished by
permitted by Assessing Officer
master of ship to Assessing Officer
[As amended by Finance Act, 2015]

Section 172(4A)
Passing order, assessing income and
Within 9 months from end of financial year
determining tax payable thereon under section
in which return under section 172(3) is
172(4).
furnished (by 31-12-2008 where return is
furnished before 1-4-2007)

Section 172(7)
Submission of claim by owner or charterer of
Before expiry of assessment year relevant to
ship that assessment be made and tax payable
the year in which ship has departed from
by him be determined in accordance with other
Indian port
provisions of the Act

Section 176(3)
Giving
notice
of
discontinuance
of
Within 15 days of discontinuance
business/profession to Assessing Officer

Section 178(1)
Giving notice of appointment as liquidator to
Within 30 days of appointment
Assessing Officer

Section 178(2)
Notifying liquidator as to amount of tax payable by
Within 3 months from date on which
company
Assessing Officer receives notice of
appointment of liquidator

Section 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.

Section 192
Filing return of deduction of tax from contributions
Within 2 months from end of financial
paid by the trustees of an approved superannuation
year
fund

[As amended by Finance Act, 2015]

Section 194C(7)
Person responsible for paying/ crediting any sum
Within such time as may be prescribed
to contractor during course of business of plying,
hiring or leasing goods carriages to furnish
prescribed particulars to prescribed income-tax
authority

Section 197A(2)
Delivering to Principal Chief Commissioner or Chief
On or before the 7th day of the month
Commissioner or Principal Commissioner or
next following the month in which
Commissioner one copy of declaration required to be
declaration is furnished
filed under section 197A(1) or 197A(1A) or
197A(1C)

Section 200(1)
Paying tax deducted at source under sections 192 to
Within time limit as prescribed under
196D
rule 30

Section 200(3)
Preparation and filing of prescribed
Where deductor is a person other than an office
statements of tax deducted for periods
of Government : On or before 15th July, 15th
ending on June 30, September 30,
October, 15th January of the financial year in
December 31 and March 31
respect of quarter ending 30th June, 30th
September and 31st December and in respect of
quarter ending 31st March, on or before 15th
May of the financial year immediately following
the financial year in which deduction is made
Where deductor is an office of Government : 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 15th May of the financial year
immediately following the financial year in which
deduction is made
Where deduction is made under section 194-IA:
Within 7 days from the end of the month in which
deduction is made.
Section 200A

[As amended by Finance Act, 2015]

Intimation under section 200A(1)

Within one year from end of financial year in

which statement is filed

Section 201(3)
Order deeming a person to be an assessee in
Within 7 years from the end of the financial
default for failure to deduct whole or any
year in which payment is made or credit is
part of tax from a person resident in India
given, whether the statement is filed or not.
Section 203
Issuance of certificate of tax deducted at
Form No. 16: By 31st May of the financial
source
year immediately following the financial year
in which income was paid and tax deducted.
Form No. 16A: On or before 30th July, 30th
October, 30th January of the financial year in
respect of quarters ending 30th June, 30th
September & 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 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
7 days from the end of the month in which
deduction is made)

Section 203A
Payer to apply to Assessing Officer for allotment of
Within one month from the end of the
Tax Deduction and Collection Account Number
month in which tax was deducted or
collected, as the case may be

Section 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)

Section 206(4)
Rectifying defect in return filed under section
Within 15 days from the date of intimation
206(2)
of the defect by Assessing Officer or
extended time

[As amended by Finance Act, 2015]

Section 206A(1)
Furnishing of prescribed statement in respect of
On or before 31st July, 31st October,
payment of interest to residents without TDS by
31st January and 30th June following
banking company, co-operative society or public
respective quarter of financial year
company referred to in proviso to section 194A(3)(i)

Section 206A(2)
Furnishing of prescribed statement by persons
Within such time as may be prescribed.
notified by Central Government

Section 206C(3)
Payment of tax collected from the respective buyers
Within time limit as prescribed in rule
of specified goods under section 206C(1) to the credit
37CA
of Central Government or as the Board directs

Section 206C(3) (proviso)

Preparation and filing of prescribed statements
On or before 15th July, 15th October, 15th
of tax collected for periods ending on June 30,
January in respect of first three quarters of
September 30, December 31 and March 31
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)

Section 206C(5)
Person collecting tax under section
On or before 30th July, 30th October, 30th January
206C(1) from respective buyers to give
of the financial year in respect of the quarter ending
them a certificate in Form 27D about
30th June, 30th September and 31st December of
the amount and rate of tax collected, etc.
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
Section 206C(5)(2nd proviso)
Prescribed income-tax authority or person
31st July following the financial year
authorised by such authority to prepare and deliver
during which taxes were collected or
to buyer/licensee/lessee, a statement in the
paid (Form No. 26AS)

[As amended by Finance Act, 2015]

prescribed form specifying amount of tax collected

or paid after the end of each financial year
beginning on or after 1-4-2008

Rectifying defect in return filed

Section 206C(5D)
Within 15 days from the date of intimation of
the defect by Assessing Officer or extended
time

Section 206CB(1)
Sending the Intimation specifying the amount Within a period of one year from end of
payable/refundable under section 206CB(1)(d) financial year in which statement under section
206C is filed.

Section 211(1)
Payment of advance tax in specified instalments :
(a) In case of corporate taxpayers
On or before 15th June
(i) up to 15 per cent
(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

On or before 15th March

(b) In case of other taxpayers

(i) up to 30 per cent

On or before 15th September

(ii) up to 60 per cent

On or before 15th December

(iii) up to 100 per cent

On or before 15th March

Note : Payment of advance tax made on or before 31st March shall be treated as advance tax paid
during financial year.

Section 211(2)
Payment of the appropriate part or whole amount of
On or before each date specified in
advance tax as demanded under section 210(3) and
section 211(1) falling after date of
(4) after the due dates of instalment
service of demand notice

[As amended by Finance Act, 2015]

Section 220(1)
Payment of amount other than advance tax in
Within 30 days of service of demand
response to notice under section 156
notice or within date extended on
request or within shorter period,
specified in revenue's interest

Making claim for refund

Section 239(2)(c)
Within 1 year from last day of relevant
assessment year

Section 245C(1)
Application for settlement of case to Settlement
At any stage during the pendency of a
Commission
case before the Assessing Officer

Section 245C(1E)
Application for settlement before Settlement Not before 120 days of seizure
Commission under sub-section (1) where books of
account, documents, etc., have been seized

Rejecting/allowing
settlement

the

Section 245D(1)
application
for
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

Section 245D(2B)
Calling report by the Settlement Commission from
Within 30 days from the date of receipt
Principal Commissioner or Commissioner
of application
Submission of report by the Principal
Within 30 days from the date of
Commissioner or Commissioner to Settlement
communication from the Settlement
Commission
Commission
Section 245D(2C)
Declaring application as invalid by the Settlement
Within 15 days from the date of receipt
Commission
of
report
from
the
Principal
Commissioner or Commissioner

[As amended by Finance Act, 2015]

Section 245D(3)
Furnishing a report by the Principal Commissioner
Within 90 days from the date of receipt
or Commissioner to the Settlement Commission in
of communication from the Settlement
the matters covered by the application
Commission

Passing order of settlement

Section 245D(4A)
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 31-52010) (In respect of applications referred to in
section 245D(2A) to (2D) : on or before 31-32008)

Section 245D(6B)
Rectification application by the Principal Within a period of six months from the end of
Commissioner/Commissioner/Applicant to the the month in which the order under section
Settlement Commission
245D(4) is passed.
Amendment to any order of Settlement Within a period of six months from the date on
Commissioner to rectify any mistake apparent which the order under section 245D(4) is
from the record.
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.

Section 245D(7)
Completion of proceedings where settlement
Within 2 years from the end of the
becomes void as provided in section 245D(6)
financial year in which the settlement
becomes void

Section 245E, proviso

Reopening of completed proceedings by
Reopening of proceeding is not possible
Settlement Commission if an application is made
where period between end of assessment
before 1-6-2007
year to which proceeding relates and the
date of application for settlement under
section 245C exceeds 9 years

[As amended by Finance Act, 2015]

Section 245Q(3)
Withdrawing application for advance ruling
Within 30 days from date of application

Section 245R(6)
Pronouncement of advance ruling by authority Within 6 months of receipt of application

Section 249(2)/(3)
Filing appeal to Commissioner (Appeals)a) Relating to tax deducted at source under Within 30 days from date of payment of tax or
section 195
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

Section 250(6A)
Disposal of appeal by Commissioner (Appeals)
One year from end of financial year in
which appeal is filed (where it is
possible)

Filing appeal to Tribunal

Section 253(3)/(5)
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]

Section 253(3A)
Filing appeal by Principal Commissioner or
Within 60 days of the date on which
Commissioner to Tribunal if he objects to any
the order sought to be appealed against
direction issued by Dispute Resolution Panel
is passed by the Assessing Officer in
pursuance of directions of the Dispute
Resolution Panel

Section 253(4)/(5)
[As amended by Finance Act, 2015]

Filing memo of cross-objections to Tribunal

Within 30 days of receipt of notice of

filing appeal or within extended time

Section 254(2)
Rectification of apparent mistake by Tribunal
Within 4 years from the date of
impugned order

Section 254(2A)
Disposal of appeal by Appellate Tribunal
4 years from end of financial year in which
filed under sub-section (1)/(2) of section
appeal is filed (where it is possible).
253
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.

Section 260A
Filing appeal to High Court against order of
Within 120 days of date of
Tribunal
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.

Section 263(2)
Revising orders prejudicial to revenue by Principal
Within 2 years from end of financial
Commissioner or Commissioner
year in which order sought to be
revised was passed

Section 263(3)
Revision by Principal Commissioner orCommissioner
of orders passed pursuant to any finding or direction
by Tribunal, National Tax Tribunal, High Court or
Supreme Court

No time limit

[As amended by Finance Act, 2015]

Section 264(2)
Revision of orders by Principal Commissioner
orCommissioner on his own motion (not prejudicial to
taxpayer)

Within 1 year of order sought to be

revised

Section 264(3)
Filing revision petition to Principal Commissioner
Within 1 year from date of
orCommissioner (order not to be prejudicial to
communication of order sought to be
taxpayer)
revised or date of his knowledge in
respect thereof or within extended time

Section 264(6)
Passing order on revision application made by
Within 1 year from the end of the
taxpayer on or after 1-10-1998
financial year in which application is
made

Section 275
Imposing
penalties
Chapter XXI :

under

(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.

[As amended by Finance Act, 2015]

(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

Section 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

Provisional
taxpayer

attachment

of

assets

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

Section 281B
of
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

Section 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

Section 285B

[As amended by Finance Act, 2015]

Within 60 days from end of the

financial year

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

Section 285BA
Filing of statement of financial transaction or To be prescribed
reportable account (Previously called as Annual
Information Return)

Section 285BA(4)
Rectifying defect in statement of financial
Within 30 days(or such extended time
transaction or reportable account filed under section
as may be allowed on application) from
285BA as required by prescribed income-tax
date of intimation of defect
authority

Section 285BA(5)
Furnishing of statementunder section 285BA in
Within period not exceeding 30 days
response to notice from prescribed income-tax
from date of service of notice.
authority by person who has failed to furnish
statementwithin time

[As amended by Finance Act, 2015]

MCQ on Period of limitation prescribed under the Income-tax Act

Q1. Under section 12AA, an order of granting or refusing registration of trust shall be passed
within _______ from the end of the month in which application u/s 12A(1)(aa) is received.
(a) 36 months

(b) 24 months

(c) 12 months

(d) 6 months

Correct answer : (d)

Justification of correct answer :
Under section 12AA, an order of granting or refusing registration of trust shall be passed within
6 months from the end of the month in which application u/s 12A(1)(aa) is received.
Thus, option (d) is the correct option.
Q2. A report from an accountant which is required to be furnished under section 92E by every
person who has entered into an international transaction during the previous year shall be
furnished on or before 30th November of relevant assessment year.
(a) True

(b) False

Correct answer : (a)

Justification of correct answer :
A report from an accountant which is required to be furnished under section 92E by every person
who has entered into an international transaction during the previous year shall be furnished on
or before 30th November of relevant assessment year.
Thus, the statement given in the question is true and hence, option (a) is the correct option.
Q3. As per section 115QA(3), tax to credit of Government in case of distributed income of
domestic company for buy-back of shares shall be deposited within _________ days from date of
payment of any consideration to the shareholder on buy-back of shares.
(a) 7 days

(b) 10 days

(c) 14 days

(d) 30 days

Correct answer : (c)

Justification of correct answer :
As per section 115QA(3), tax to credit of Government in case of distributed income of domestic
company for buy-back of shares shall be deposited within 14 days from date of payment of any
consideration to the shareholder on buy-back of shares.
Thus, option (c) is the correct option.

[As amended by Finance Act, 2015]

Q4. As per section 133A(3), the income-tax authority can retain 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 for a period not more than 15 days (exclusive of holidays).
(a) True

(b) False

Correct answer : (a)

Justification of correct answer :
As per section 133A(3), the income-tax authority can retain 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 for a period not more than 15 days (exclusive of holidays).
Thus, the statement given in the question is true and hence, option (a) is the correct option.
Q5. As per section 142A(6), a Valuation Officer should send a report to the Assessing Officer
within ____________ from the end of the month in which a reference is made by the Assessing
Officer under section 142A(1).
(a) 12 months

(b) 8 months

(c) 6 months

(d) 2 months

Correct answer : (c)

Justification of correct answer :
As per section 142A(6), a Valuation Officer should send a report 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).
Thus, option (c) is the correct option.
Q6. As per section 201(3), an 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 whether the statement is filed or
not shall be passed within 2 years from the end of the financial year in which payment is made or
credit is given.
(a) True

(b) False

Correct answer : (b)

Justification of correct answer :
As per section 201(3), an 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 shall be passed
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.
Thus, the statement given in the question is false and hence, option (b) is the correct option.
[As amended by Finance Act, 2015]

Q7. As per section 211(1), payment of advance tax made on or before _______ shall be treated
as advance tax paid during the financial year.
(a) 30th June

(b) 30th September

(c) 31st December

(d) 31st March

Correct answer : (d)

Justification of correct answer :
As per section 211(1), payment of advance tax made on or before 31st March shall be treated as
advance tax paid during financial year.
Thus, option (d) is the correct option.
Q8. Under section 281B, a provisional attachment of assets of taxpayer shall cease to have effect
after expiry of six months which is extendable up to 2 years from date of order.
(a) True

(b) False

Correct answer : (b)

Justification of correct answer :
Under section 281B, a provisional attachment of assets of taxpayer shall cease to have effect
after expiry of six months (extendable up to 2 years or up to 60 days after the date of assessment
or reassessment, whichever is later) from date of order.
Thus, the statement given in the question is false and hence, option (b) is the correct option.
Q9. As per section 285B, film producers should furnish a statement within 30 days from end of
financial year or within 30 days from date of completion of film, whichever is later.
(a) True

(b) False

Correct answer : (b)

Justification of correct answer :
As per section 285B, film producers should furnish a statement within 30 days from end of
financial year or within 30 days from date of completion of film, whichever is earlier.
Thus, the statement given in the question is false and hence, option (b) is the correct option.

[As amended by Finance Act, 2015]