Deadline for reassessment of these old ITRs approaching; Know who can get tax notice u/s 148 by August 31, 2024

Income tax notice: The income tax department may send you a tax notice for AY 2018-19 (FY 2017-18) by August 31, 2024 if there is exists any income of Rs 50 lakh or more which escaped assessment. Budget 2024 amended the tax provisions to now reduce the time limit to send a section 148 notice.

from Tax-Wealth-Economic Times https://ift.tt/lhJZkXf