Time limit for issue of notices under sections 148 and 148A

CA V.K. Subramani

The Finance (No. 2) Bill, 2024 proposes to substitute section 149 w.e.f. 1st day of September, 2024.

Sub-section (1) of section 149 says that a notice under section 148 shall not be issued if 3 years and 3 months have elapsed from the end of the relevant assessment year, unless it is covered by clause (b) of section 149(1).