What is the time limit to get issued notice under section 147, if income escaping from return is less than by ₹1,00,000 ?

CS Executive · Tax Laws and Practice · PYQS · June 2021
What is the time limit to get issued notice under section 147, if income escaping from return is less than by ₹1,00,000 ?
(A) Two years from the end of the related assessment year
(B) Four years from the end of the related assessment year
(C) Six years from the end of the related assessment year
(D) Seven years from the end of the related assessment year

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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