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 At least three months before the date of issue
company or infrastructure capital fund or a of such bond.
public sector company for notification under However it should be noted that an application
clause (48) of section 2 of any zero coupon shall not be made for notification of a bond to
bond proposed to be issued by it . 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 9(1)
Electronically submission of information in Within 90 days from the end of the financial
Form No. 49D pertaining to any transfer of the year in which any such transfer takes place
Share of, or interest in, a foreign (within 90 days of the transaction where the
company/entity. transaction has the effect of directly or
indirectly transferring the rights ofmanagement
in relation to Indian concern)
Section 9A

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

Section 10(21)

Furnishing (by a research association) a Before the expiry of time allowed for
statement to accumulate/set apart income for submission of return of income under section
future application by uploading Form No. 10 139(1)

[As amended by Finance Act, 2024]

 Section 10(23C)
Making an application for grant of approval by entities referred to in section
10(23C)(iv)/(v)/(vi)/(via)

If entity is approved on or before 31-03-2021 On or before 25-11-2022

If entity is approved and the period of such At least 6 months prior to expiry
approval is due to expire of said approval
Where such entity has been provisionally At least 6 months prior to expiry of the period of
approved the provisional approval; or within 6 months of
the commencement of its activities.
Any other case (applicable upto 30-09-2023) At least 1 month prior to commencement of the
previous year relevant to the assessment year
from which said approval is sought
Any other case (applicable from 01-10-2023) At least 1 month prior to commencement of the
where activities of such entity have not previous year relevant to the assessment year
commenced from which said approval is sought
Any other case (applicable from 01-10-2023) At any time after the commencement of activities
where activities of such entity have commenced
and no income (or part) has been excluded on
account of applicability of section 10(23C) or
section 11 for any previous year ending on or
before the date of such application

Section 10(23C)
Passing an order granting approval
If entity is approved on or before 31-03- 2021 Within 3 months from end of the month in which
application is received
If entity is approved and the period of such Within 6 months from the end of the month in
approval is due to expire which application is received
Where such entity has been provisionally Within 6 months from the end of the month in
approved which application is received
Any other case (applicable upto 30-09-2023) Within 1 month from the end of the month in
which application is received
Any other case (applicable from 01-10-2023) Within 1 month from the end of the month in
where activities of such entity have not which application is received
commenced
Any other case (applicable from 01-10-2023) Within 6 months from the end of the month in
where activities of such entity have commenced which application is received
and no income (or part) has been excluded on
account of applicability of section 10(23C) or
section 11 for any previous year ending on or
before the date of such application

[As amended by Finance Act, 2024]

 Section 10(23C)
Getting accounts audited and uploading audit One month prior to the due date of furnishing
report in Form no. 10BB return of income under section 139(1).
Uploading Form 10 - Exercising option available 2 months prior to the due date specified under
under Explanation 3(a) to third proviso to Section section 139(1).
10(23C)

Section 10A
Audit report certifying the deduction claimed under Before the specified date referred to in
section 10A section 44AB

Furnishing declaration by taxpayer in respect of Before due date for furnishing return of
industrial undertaking in any free trade zone for not income under section 139(1)
availing tax holiday under section 10A

Section 10B(8)
Furnishing declaration by taxpayer in respect of Before due date for furnishing return ofincome
100 per cent export-oriented undertaking for not under section 139(1)
availing tax holiday under section 10B

Section 11(1), Explanation

Exercising option available under Explanation 2 months prior to the due date specified under
to section 11(1) by uploading Form No. 9A section 139(1)

Section 11(2)

Furnishing a statement to accumulate/set apart 2 months prior to the due date specified under
income for future application by uploading section 139(1)
Form No. 10

Section 12A
Making an application for registration to claim exemption under section 11/12

Trust or institution is registered under On or before 25-11-2022

section 12A/12AA on or before 31-03-
2021
Trust or institution is registered under At least 6 months prior to expiry of said
section 12AB and period of said period
registration is due to expire

[As amended by Finance Act, 2024]

 Trust or institution has been provisionally Earlier of the following:
registered under section12AB  At least 6 months prior to expiry of the
period of the provisional registration;
or
 Within 6 months of commencement
of its activities.

Trust or institution has become inoperative At least 6 months prior to commencement of

due to first proviso to section11(7) the assessment from which said registration is
sought to be made operative

Trust or institution has adopted or undertaken Within a period of 30 days from date of said
modifications of the objects which do not adoption or modification
conform to conditions of registration
In any other case (applicable up to 30-09- At least 1 month prior to commencement of
2023) the previous year relevant to assessment year
from which the said registration is sought
In any other case (applicable from 01-10-2023) At least 1 month prior to commencement of the
where activities of the trust/institution have not previous year relevant to assessment year from
commenced which the said registration is sought
In any other case (applicable from 01-10-2023) At any time after the commencement of its
where activities of the trust/institution have activities
commenced and no income (or part) has been
excluded on account of applicability of Section
10(23C) or Section 11/12 for any previous year
ending on or before the date of such application

Section 12AB - Passing of order by CIT or PCIT

Trust or institution is registered under Within 3 months calculated from end of
section 12A/12AA on or before 31-03- month in which application is received
2021
Trust or institution is registered under Within 6 months calculated from end of month
section 12AB and period of said in which application is received
registration is due to expire
Trust or institution has been provisionally Within 6 months calculated from end of
registered under section 12AB month in which application is received

Trust or institution has become Within 6 months calculated from end of month
inoperative due to first proviso to section11(7) in which application is received

Trust or institution has adopted or undertaken Within 6 months calculated from end of month
modifications of the objects which do not in which application is received
conform to conditions of Registration

[As amended by Finance Act, 2024]

In any other case (applicable up to 30-09- Within 1 month calculated from end ofmonth
2023) in which application is received
In any other case (applicable from 01-10- Within 1 month calculated from end ofmonth
2023) where activities of the trust/institution in which application is received
have not commenced
In any other case (applicable from 01-10- Within 6 months calculated from end of month
2023) where activities of the trust/institution in which application is received
have commenced and no income (or part) has
been excluded on account of applicability of
Section 10(23C) or Section 11/12 for any
previous year ending on or before the date of
such application

Section 33AB
Getting accounts audited and furnishing of audit One month prior to the due date of furnishing
report return of income under section 139(1).

Section 33ABA
Getting accounts audited and furnishing of audit One month prior to the due date of furnishing
report return of income under section 139(1).

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)

Section 35(2AA)

Filing annual audited accounts for each October 31 each year

approved programme by the National
Laboratory, etc.
Submitting copy of audited statement of Within 6 months of completion
accounts for approved programmes

Passing order by the prescribed authority in Within 2 months from receipt of application
Form 3CH
Section 35(2AB)

Electronically furnishing report by prescribed Within 120 days of grant of approval

authority in relation to in-house research
facility in Part A of Form No. 3CL
Submitting copy of audited accounts in Form On or before due date of submission of return
No. 3CLA to the Secretary, Department of of income
Scientific and Industrial Research

[As amended by Finance Act, 2024]

Electronically furnishing report by prescribed Within 120 days of submission of audit report
authority quantifying the expenditure incurred
on in-house research and eligible for weighted
deduction in Part B of Form No. 3CL

Section 35ABA(3)
Withdrawing deduction claimed and granted to Within 4 years from the end of the previous year
the assessee under section 35ABA, if in which the failure to comply with the
subsequently there is a failure to comply with conditions referred to in section 35ABA takes
the provisions specified in said section place

Section 44AB
Getting accounts audited by accountant and One month prior to due date of furnishing the
furnishing report return of income under section 139(1)

Section 44DA
Audit report to certify the income computed by One month prior to due date of furnishing the
way of royalties provisions of section 44DA return of income under section 139(1)

Section 50B
Audit report to certify the income computed by One month prior to due date of furnishing the
way of royalties provisions of section 44DA return of income under section 139(1)

Section 80G(5)
Making an application for approval under section 80G(5)
Re-approval of entity approved on or before On or before 25-11-2022
31-03-2021
Renewal of approval if the entity is approved At least 6 months prior to expiry of such
under the new approval scheme and the period Approval
of such approval is due to expire
Conversion of provisional approval to regular Earlier of the following:
approval At least 6 months prior to expiry of
the period of the provisional
approval; or
Within 6 months of commencement of
its activities.
Provisional approval (applicable up to 30-09- At least 1 month prior to commencement of
2023) the previous year relevant to the assessment
year from which said approval is sought
Provisional approval(applicable from 01-10- At least 1 month prior to commencement of
2023) where activities of such entity have not the previous year relevant to the assessment
commenced year from which said approval is sought

[As amended by Finance Act, 2024]

 Direct regular approval (applicable from 01- At any time after the commencement of its
10-2023) where activities of such entity have activities
commenced and no income (or part) has been
excluded on account of applicability of section
10(23C) or section 11/12 for any previous year
ending on or before the date of such
application
Passing of order by CIT or PCIT
Re-approval of entity approved on or before Within 3 months calculated from end of month
31-03-2021 in which application is received

Renewal of approval if the entity is approved Within 6 months calculated from end of
under the new approval scheme and the period month in which application is received
of such approval is due to expire
Conversion of provisional approval to regular Within 6 months calculated from end of
approval month in which application is received
Provisional approval (applicable up to 30-09- Within 1 month calculated from end of
2023) month in which application is received
Provisional approval(applicable from 01-10- Within 1 month calculated from end ofmonth
2023) where activities of such entity have not in which application is received
commenced
Direct regular approval (applicable from 01- Within 6 months calculated from end of month
10-2023) where activities of such entity have inwhich application is received
commenced and no income (or part) has been
excluded on account of applicability of section
10(23C) or section 11/12 for any previous year
ending on or before the date of such
application

Section 80G(5)
Furnishing statement of donations in Form no. On or before May 31 immediately following the
10BD or certificate of donation in Form no. financial year in which donation is received by
10BE the entity.

Section 80JJAA
Furnishing of report in Form no. 10DA to claim One month prior to due date of furnishing the
deduction return of income under section 139(1)

Section 80QQB
Receiving or bringing into India in convertible Within 6 months from end of the year or such
foreign exchange, income by way of royalty or extended period as the Competent Authority
copyright fees, earned outside India may allow in this behalf

Section 80RRB
Receiving or bringing into India in convertible Within 6 months from end of the year or such
foreign exchange, income by way of royalty on extended period as the Competent Authority
patents, earned outside India may allow in this behalf

[As amended by Finance Act, 2024]

 Section 90/90A/91
Furnishing Form no. 67 and certificate or On or before due date for furnishing
statement referred to in Rule 128 with return of income under section 139(1)
respect to Foreign Tax Credit

Section 92CA(3A)
Passing of order u/s 92CA(3) by Transfer At least sixty days before the period of
Pricing Officer 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 fromforeign
jurisdiction then such remaining period
shall be extended to 60 days. [Inserted by
the Finance Act, 2016 w.e.f 1-6-2016]

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 order under section 92CD(3) in respect Within 1 year from the end of the financial year
of modified return (applicable from 1-7-2012) in which modified return is furnished

Section 92D
Furnishing information/documents required by Within a period of 10 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 115BA
Option to opt for concessional tax rate of 25% by On or before due date of furnishing return of
certain domestic companies income under section 139(1)

[As amended by Finance Act, 2024]

 Section 115BAA
Option to opt for concessional tax rate of 22% by On or before due date of furnishing return of
certain domestic companies income under section 139(1)

Section 115BAB
Option to opt for concessional tax rate of 15% by On or before due date of furnishing return of
new manufacturing domestic companies income under section 139(1)

Section 115BAC
Option to opt for concessional tax rate by On or before due date of furnishing return of
individual, HUF, AOP, BOI, Artificial Judicial income under section 139(1)
Person

Section 115BAD
Option to opt for concessional tax rate of 22% On or before due date of furnishing return of
by resident co-operative societies income under section 139(1)

Section 115BAE

Option to opt for concessional tax rate by a On or before due date of furnishing return of
resident co-operative society income under section 139(1)

Section 115BBF(3)
Exercising option for taxation of royalty income On or before the due date of submission of
in respect of patent developed and registered in return of income under section 139(1)
India for any previous year in accordance with
the provisions of section 115BBF(1)

Section 115JB(4)

Obtaining a certificate from a chartered Before the specified date referred to in Section
accountant in Form No. 29B pertaining to 44AB
computation of book profit in the case of a
company

Section 115JC(3)

Obtaining a certificate from a chartered Before the specified date referred to in Section
accountant in a prescribed form pertaining to 44AB
computation of alternate minimum tax and
adjusted total income in the case of a limited
liability partnership

[As amended by Finance Act, 2024]

 Section 115JG(3)

Recomputing income to withdraw the benefit, Within 4 years from the end of the previous
exemption or relief claimed under section year in which failure to comply with condition
115JG(1) in case of failure to comply with the takes place
conditions of RBI scheme or notification of the
Government (applicable from the assessment
year 2013-14)

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 115TCA(4)

Furnishing statement to PCIT/CIT November 30 immediately after the end of the

of income paid or credited by a securitisation financial year
trust in Form No. 64E

Furnishing statement to investors June 30 immediately after the end of the

of income distributed by a securitisation trust financial year
in Form No. 64F

Section 115TD(1)

Transfer of all assets in case of dissolution of a Within 12 months from the end of the month in
charitable trust to another charitable trust to which dissolution takes place (applicable from
avoid tax on accreted income June 1, 2016)

Section 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)

[As amended by Finance Act, 2024]

 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
115UB(7)
Furnishing of statement in Form no. 64C of 30th day of June of the financial year
income distributed by an investment fund to its following the previous year during which the
unit holders income is paid
or credited
Furnishing of statement of income by an 15th day of June of the financial year
investment fund in Form no. 64D to the Principal following the previous year during which the
Commissioner or the Commissioner of Income- income is paid or credited
tax

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 Within 3 months of it becoming a qualifying
qualifying company after 1-1-2005 company

- a unit of an IFSC, who has availed of Within three months from the date deduction
deduction under Section 80LA under Section 80LA ceases.

[As amended by Finance Act, 2024]

 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 115VR

Renewal of tonnage tax scheme Within one year from the end of the previous
year in which the option ceases to have effect

Section 115VW
Furnishing of report in Form no. 66 pertaining to One month prior to due date of furnishing
tonnage tax the return of income under section 139(1)

Section 115VY

Opting for tonnage tax scheme by Within 3 months from the date of the approval
amalgamated company of amalgamation

Section 124(3)
Challenging Assessing Officer's a)Where a return is made under section 139(1), before
jurisdiction 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

[As amended by Finance Act, 2024]

 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

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

Section 132(9B)

Provisional attachment of property for Within 60 days from the date on which the last
protecting interest of revenue of the authorisations for search was executed

Section 132(9C)

Expiry of provisional attachment order made After the expiry of 6 months from the date of
under section 132(9B) such order

Section 132(9D)

Making a reference to valuation officer to Within 60 days from the date on which the last
estimate fair market value of property of the authorisations for search was executed

Section 132B(1)
Release of assets seized after recovery of Within 120 days from date on which last of the
existing liability authorisations /requisitions under section
132/132A was executed

Section 132B(1) first proviso

Making application to Assessing Officer for Within 30 days from end of the month in
release of asset explaining nature and source of which asset was seized
acquisition of asset

[As amended by Finance Act, 2024]

 Section 133A(3)
Retention by income-tax authority of impounded Not more than 15 days (exclusive of
books of account, documents without approval of the holidays)
Principal Chief Commissioner/Principal Director
General/Chief Commissioner/Director
General/Principal Commissioner/ Principal
Director/Commissioner/Director

Section 139(1)
(a) Filing of return by any company other than October 31st 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 October 31st of relevant assessment year
audited or where accounts of the firm in which
taxpayer is a working partner are required to
be audited or the spouse of such partner if the
provisions of section 5A apply
(ii) 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 including partners of
the Firm) is required to furnish a report in
Form No. 3CEB under section 92E

Section 139(3)
Filing of return of loss Within the time allowed under section 139(1)

Section 139(4)
Filing belated return of income Any time before 3 months prior to 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

[As amended by Finance Act, 2024]

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

[As amended by Finance Act, 2024]

 Section 139(5)
Filing revised return Any time before 3 months prior to end of the relevant
assessment year or before the completion of assessment,
whichever is earlier.

Section 139(8A)
Furnishing updated return Within 24 months from the end of the relevant
assessment year.

Section 139(9)
Rectifying defect in return of income Within 15 days from date of intimation by Assessing
Officer or extended time

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

Section 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 Before furnishing return of income
belated return or default or delay in payment of
advance tax

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).

Section 143(1)
Sending intimation under section 143(1) Before expiry of 9 months from end of
financial year in which return is made

Second proviso to Section 143(1)(a)

Sending objection in response to intimation Within 30 days of issue of such intimation (applicable
for adjustments under section 143(1)(a) from the AY 2017-18)

Section 143(2)(ii)
Serving notice in case of understatement of Before expiry of 3 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

[As amended by Finance Act, 2024]

 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)

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 148
Requiring an assessee to furnish a return of Within 3 months from the end of the month in
income where income has escaped assessment which notice is issued under section 147

Note: this period may be extended by AO

Section 148A
Furnishing of reply in response to show cause Not less than 7 days but not exceeding 30
notice issued days from date of issue of notice

[As amended by Finance Act, 2024]

Passing order by AO whether or not it is a Within 1 month from end of the month in
fit case to issue notice under section 148 which the reply referred to in section 148A(c)
is received by AO.
If no reply is furnished, such order can be
passed within 2 months from end of month
in which time or extended time
allowed to furnish a reply as per section
148A(b) expires.

Section 149(1)
Issuing notice under section 148 :
If the escaped assessment amounts to or likely to
amounts to—
(i) less than Rs. 50,00,000 Within 3 years from end of relevant
assessment year
(ii) Rs. 50,00,000 or more Within 10 years from end of relevant
assessment year

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 a) Within 21 months from end of the
144 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]

[As amended by Finance Act, 2024]

 d) Within 18 months from end of the
assessment year in which income was first
assessable [Applicable for assessment year
2020-21]
e) Within 9 months from end of the
assessment year in which income was first
assessable. [Applicable for assessment year
2021-22]
f) Within 12 months from end of the
assessment year in which income was first
assessable. [Applicable for assessment year
2022-23 and onwards]
Note:
 If reference is made to TPO, the period
available for assessment shall be extended
by 12 months.
 If return has been furnished under section
139(8A), the order of assessment shall be
passed within 9 months from the end of
financial year in which such return was
furnished.

Section 153(2)

Making assessment/reassessment, etc., under a) Within 9 months from end of the financial
section 147 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.

Section 153(3)

An order of fresh assessment ( or a) Within 9 months from end of the financial year in
fresh order under section 92CA )in which order under section 254 is received by
pursuance of order under section 254,
263 or 264 setting aside or cancelling - Principal Chief Commissioner or
assessment (or an order under section - Chief Commissioner or
92CA)

[As amended by Finance Act, 2024]

 - 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.

Section 153(5)

Giving effect to an order [under Section Within a period of 3 months from the end of the
250/254/260/262/263/264] by AO (or month in which order is received by
TPO) - Principal Chief Commissioner or
wholly or partly, otherwise than by
making a fresh assessment or - Chief Commissioner or
reassessment (or order under section - Principal Commissioner or
92CA)
- 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]

Section 153(5)
Where an order under section Time- limit of section 153(3) will apply (wef
250/254/260/262/263/264 requires verification of June 1, 2016)
any issue by way of submission of any document
by the assesse or any other person or where an
opportunity of being heard is to be provided to the
assesse

[As amended by Finance Act, 2024]

 Section 153(5A)
Modification by the AO of an order of Within 2 months from the end of the month
assessment/reassessment in conformity with in which such order of TPO is received by
TPO’s order giving effect to an order/direction the AO
under section 263/92CA

Section 153(6)(i)
An order of assessment, reassessment or Within 12 months from the end of the month
recomputation on assessee or any person in in which such order is received or passed by
consequence of or to give effect to any finding or the Principal Commissioner or
direction contained in Commissioner, as the case may be
- 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

Section 153(6)(ii)
An order of assessment on a partner of the firm Within 12 months from the end of the month in
in consequence of an assessment made on the which the assessment order in case of firm is
firm under Section 147. passed.

Section 153
Passing of assessment or reassessment One year after the exclusion of the period
order where assessee exercise option to under section 245M(5) and where such
withdraw pending application before period of limitation is less than one year, it
Settlement Commission under section shall be deemed to have been extended
245M to one year

Section 153B

Passing assessment order under section a) Within a period of 21 months from end of
153A (not applicable if search is initiated the financial year in which the last of the
under section 132 or requisition is made authorizations for search/requisition under
under section132A on or after 1st April, section 132/132A was executed.
2021) 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)

[As amended by Finance Act, 2024]

 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 One year after the exclusion of the period
proceeding before the Settlement Commission under 245HA(4) and where such period of
abates under section 245HA limitation is less than one year, it shall be
deemed to have been extended to one year

Passing of assessment, reassessment or One year after the exclusion of the period
recomputation order where assessee exercise under section 245M(5) and where such period
option to withdraw pending application before of limitation is less than one year, it shall be
Settlement Commission under section 245M deemed to have been extended to one year

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
(i) amend any order passed by it passed, or within 6 months from the end
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)

[As amended by Finance Act, 2024]

 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—
(a) asset is sold/transferred within 8 years from Within 4 years from end of the year in
end of the year in which it was acquired which sale/transfer took place
(b) investment allowance reserve is not utilised Within 4 years from end of said 10 years
for acquiring new asset within 10 years of end
of the year in which asset was acquired
(c) reserve is misutilised before expiry of 10 Within 4 years from end of the year in
years of end of the year in which asset was which amount is so misutilised
acquired

Section 155(5)
With drawing development rebate under section Within 4 years from end of previous year
33 if asset is sold within 8 years or reserve is in which sale took place or reserve is so
misutilised. misutilised

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 have scientific research programme has expired
been wrongly allowed

[As amended by Finance Act, 2024]

 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, 10AA, 10B or which such income is received in, or
10BA in
respect of income received in or brought into brought into, India
India

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 30-9-
1991 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

[As amended by Finance Act, 2024]

 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(14A)
Amending assessment order or intimation or Within 6 months from the end of the month
deemed intimation so as to give foreign tax in which dispute is settled (applicable from
credit under section 90/90A/91 (earlier it was not the April 1, 2018)
given because the quantum of foreign tax was
disputed)

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 Within 4 years from the end of the year in
compute capital gain on compulsory acquisition, which order reducing compensation was
etc., by taking the full value of consideration to passed
be the 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
withdraw deduction under section 80RRB in which order of Controller/High Court
allowed earlier where by a subsequent order of was passed
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

Section 155(19)
Re-computing the total income of a co-operative On or before March 31, 2027
society (engaged in the business of manufacture
of sugar) for the previous year 2014-15 (or any
earlier year) to allow deduction of expenditure
(which was initially disallowed) incurred at a
price which is equal to or less than the price
fixed/approved by the Govt. for that year

[As amended by Finance Act, 2024]

 Section 155(20)
Submitting application by an assessee who has Within 2 years from the end of the financial year
reported income on accrual basis but tax is in which such tax was deducted
deducted and paid by the deductor in later
financial year
Amending order of assessment/intimation in the Within 4 years from the end of the financial year
aforesaid case to allow credit of tax deducted at in which tax has been deducted
source in the relevant assessment year

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 158AB(2)

Making an application to the Appellate Within 120 days from the date of receipt of
Tribunal/jurisdiction High Court order of the commissioner (appeals)/ Appellate
Tribunal

Section 158AB(5)

Filing appeal to the Tribunal/jurisdictional High Within 60 days to the Tribunal (or 120 days to
Court the High Court ) from the date on which the
order of the High Court/ Supreme Court (in the
other case) is communicated to the Principal
Commissioner/Commissioner.

Section 158BE(1)
Passing of order under section 158BC Within a period of 2 years from the end of the
relevant month (in acase of search or
requisition which took place on or after 1-1-
1997).

[As amended by Finance Act, 2024]

 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
to in section 158BD Chapter XIV-B was served (in a case of search
or requisition which took place on or after 1-1-
1997).

Section 158BFA(3)

Passing order for imposing penalty under In a case where the assessment is the subject-
section 158BFA(2) matter 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 subject-
matter 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 date of declaration of
trust' into 'trust declared by a duly executed 'oral trust'
instrument in writing'

[As amended by Finance Act, 2024]

 Section 170A
Furnishing modified return in the case of business Within 6 months from the end of the
reorganization where prior to the order of High court/ month in which said order of High
Tribunal /Adjudicating authority, a return of income court/Tribunal/Adjudicating authority
was furnished by successor under section 139 is issued
Section 172(3)
Return of full amount paid or payable to non- Before 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

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, 2024]

 Section 197A(2)
Uploading of declaration received by Deductor in 15 days from the end of first, second and
Form No. 15G/15H from deductee on the e-filing third quarter 30 days from the end of
site (www.incometaxindiaefiling.gov.in) fourth quarter.

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 On or before 31st July, 31st October, 31st January
statements of tax deducted for periods of the financial year in respect of quarter ending
ending on June 30, September 30, 30th June, 30th September and 31st December
December 31 and March 31 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/194M: Within 30 days from the end
of the month in which deduction is made.

Section 200A
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, or 2 years from the end of the financial
year is which the correction statement is
delivered, which ever is later.
Section 203
Issuance of certificate of tax deducted at Form No. 16: By 15th June of the financial
source 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

[As amended by Finance Act, 2024]

 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)
Form No. 16D (Section 194M): Within 15
days from the due date for furnishing challan
cum statement in Form No. 26QD (i.e. within
30 days from the end of 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 203A
Applying to AO for allotment of Tax Deduction Within one month from end of month in
and Collection Account Number (TAN) which the tax was deducted or collected

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 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)

[As amended by Finance Act, 2024]

 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
the amount and rate of tax collected, etc. 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

Section 206C(5D)
Rectifying defect in return filed 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 installments:
(a) In case of all the assessees (other than the
eligible assessees as referred to in section
44AD) :
(i) At least 15 per cent On or before 15th June
(ii) At least 45 per cent On or before 15th September

(iii) At least 75 per cent On or before 15th December

(iv) At least 100 per cent On or before 15th March
(b) In case of eligible assessee as referred to in
Section 44AD and 44ADA
(i) At least 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

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, 2024]

 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

Section 220(2A)
Order accepting/rejecting the application of assessee Within 12 months from the end of the
for waiver of interest payable under section 220(2) 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

Section 239A(1)
Filing application by deductor before the AO for Within 30 days from the payment of TDS
refund of tax deducted at source under section 195 to the central government (w.e.f. 1st April
2022)

Section 239A(4)
Passing order pertaining to the application by the Within 6 months from the end of the month
AO in which the application is received by the
AO (w.e.f. 1st April 2022)

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

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

Section 245D(1)
Rejecting/allowing the application for Within 7 days, notice shall be issued to the
settlement 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

[As amended by Finance Act, 2024]

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

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

Section 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)

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 passed
from the record. 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 Within 2 years from the end of the financial year
settlementbecomes void as provided in in which the settlement becomes void
section 245D(6)

Section 245E, proviso

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

[As amended by Finance Act, 2024]

 Section 245M
Withdrawal of pending application filed Within 3 months from date of
before Income tax Settlement Commission commencement of Finance Act, 2021

Section 245MA(2A)
Passing order by the AO in conformity Within 1 month from the end of the month in
with the direction contained in the order which the order of Dispute Resolution
of dispute resolution Committee Committee is received by the AO

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 Joint Commissioner
(Appeals)/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)
Section 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]
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

[As amended by Finance Act, 2024]

 Section 253(4)/(5)
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 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]

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

Section 256(1)
(i) Filing application to Tribunal requiring Within 60 days of service of Tribunal’s order
it to refer to High Court any question of Law under section 254 or within extended period not
exceeding 30 days.
(ii) Drawing up statement of case and Within 120 days of receipt of application
referring it to High Court by Tribunal

Section 256(2)
Filing application to High Court If Tribunal Within 6 months from date of service of
refuses to state case notice of refusal to state case

Section 256(3)
Application by assessee for claiming refund of fee Within 30 days from date of receipt of
after Tribunal’s refusal to state case refusal notice

Section 260A

Filing appeal to High Court against order of Within 120 days of date ofcommunication of
Tribunal 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.

[As amended by Finance Act, 2024]

 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 or No time limit
Commissioner of orders passed pursuant to any
finding or direction by Tribunal, National Tax
Tribunal, High Court or Supreme Court
Section 264(2)
Revision of orders by Principal Commissioner or Within 1 year of order sought to be
Commissioner on his own motion (not prejudicial to revised
taxpayer)

Section 264(3)
Filing revision petition to Principal Commissioner Within 1 year from date of
or Commissioner (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 financial
taxpayer on or after 1-10-1998 year in which application is made

Section 270AA(2)
Application to the Assessing Officer to grant Within one month from the end of the
immunity from imposition of penalty under section month in which such order is received
270A and initiation of proceedings under section
276C or under section 276CC

Section 270AA(4)
Passing an order by the Assessing Officer granting Within one month from the end of the
immunity from passing of penalty, etc., under month in which application under
section 270AA(3) section 270AA(1) is received

Section 271GB(4)(b)
Time-limit for informing the inaccuracy in report Within a period of fifteen days of
furnished under section 286 and furnish correct discovery of inaccuracy
report to the prescribed authority to avoid penalty

[As amended by Finance Act, 2024]

 Section 273A(4A)
Passing order for accepting or rejecting the Within a period of twelve months from the
application filed under section 273A(4), in full or in end of the month in which the application
part, to reduce or waive the penalty 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)

Section 273AA(3A)
Passing order by the Principal Commissioner or the Within a period of twelve months from the
Commissioner accepting or rejecting the application end of the month in which the application
filed under section 273AA(1) in full or in part, to is received by the Principal Commissioner
grant immunity from penalty. or the Commissioner
(such order can be passed on or before
May 31, 2017 in case of application
pending as on June 1, 2016)

Section 275
Imposing penalties underChapter XXI :

(a) In a case where appeal is filed to Joint Before the expiry of financial year in which
Commissioner (Appeals)/Commissioner proceedings which give rise to penalty
(Appeals) and Joint Commissioner proceedings are completed, or within 12
(Appeals)/Commissioner (Appeals) passes months from end of the Financial year in which
the order on or after 01-06-2003 the order of Joint Commissioner
(Appeals)/Commissioner (Appeals) is received
by the Chief Commissioner/Commissioner,
whichever period expires later
(b) in a case where appeal is filed to Before the expiry of financial year in
Commissioner(Appeals)/Tribunal which proceedingswhich give rise to
penalty proceedings are completed, or
within 6 months from end of month in
which the order ofCommissioner
(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

[As amended by Finance Act, 2024]

 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.

(c) in a case where relevantassessment or Within 6 months from the end of month
other order is in which revisionorder is passed
subject- matter of revision under
section 263 (or section 264)

(d) 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 Within 6 months from end of the
dropping penalty proceedings on the basis of revised month in which order of
assessment after giving effect to appellate/court/revision Commissioner (Appeals)/Tribunal/
order in a case where relevant order is subject matter of High Court/Supreme Court is
appeal to Commissioner (Appeals)/Tribunal/High received by the Principal Chief
Court/Supreme Court or revision and an order imposing Commissioner or Chief
or enhancing or reducing or cancelling penalty or Commissioner or Principal
dropping proceedings for imposition of penalty is passed Commissioner or Commissioner or
before the order of the Commissioner order of revision is passed
(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(2)
Provisional attachment of assets of Attachment shall cease to have effect after expiry
taxpayer 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 281B(4)
Submitting report by Valuation Officer to determine Within a period of 30 days from the
fair value of property provisionally attached by AO. date of receipt of such reference

[As amended by Finance Act, 2024]

 Section 281B(5)
An order revoking the provisional attachment of - Within 45 days from the date of receipt
property on furnishing of Bank Guarantee. of the bank guarantee, where a
(subject to conditions) reference to the Valuation Officer has
been made or
- Within 15 days from the date of receipt
of bank guarantee in any other case.

Section 281B(7)
Invoking Bank Guarantee by AO if the assesse fails 15 days before the expiry of the Guarantee.
to renew the guarantee or fails to furnish a new
Guarantee

Section 285
Preparation and delivery of statement in prescribed May 30 after the end of the financial year.
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
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 On or before the 31st May immediately
reportable account (Previously called as following the financial year in which the
‘Annual Information Return’) transaction is registered or recorded.

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 statement under 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
statement within time

[As amended by Finance Act, 2024]

 Section 286(2)
Furnish a report for every reporting accounting year Within a period of 12 months from the
by a parent entity or the alternate reporting entity, end of said reporting accounting year.
resident in India, to the prescribed authority in
respect of the international group of which it is a
constituent.
Section 286(6)
Producing information/document to the prescribed Within thirty days of the date of receipt
authority for the purpose of determining accuracy of of the notice
report furnished by any reporting entity (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]

Section 101
Filing of return by recognised stock exchange or On or before June 30 after the end of
mutual fund financial year

Section 102
Making assessment Within 2 years from the end of relevant
financial year

Section 103
Rectification of mistake Within one year from the end of the financial
year in which the order sought to be amended
was passed

Section 110
Filing appeal to Commissioner (Appeals) Within 30 days from the date of receipt of
order of the AO

Section 111
Filing appeal to Tribunal Within 60 days from the date on which the
order sought to be appealed is
communicated.

[As amended by Finance Act, 2024]

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

Q1. 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.
Q2. 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.
Q3. 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, 2024]

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 or 2 years from the end of the financial year is which the correction statement is
delivered, whichever is later.
(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

[As amended by Finance Act, 2024]

Within 7 years from the end of the financial year in which payment is made or credit is given, or
2 years from the end of the financial year is which the correction statement is delivered,
whichever is later.
Thus, the statement given in the question is false and hence, option (b) is the correct option.
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.

[As amended by Finance Act, 2024]