S. 201 Extension of time for passing an order in certain cases to six years
Extension of time for passing an order under section 201 in certain cases
Under the existing provisions section 201 of the Income-tax Act, a person can be deemed to be an assessee in default, by an order, in respect of non-deduction/short deduction of tax. Such order can be passed within a period of four years from end of financial year in a case where no statement as referred to in section 200 has been filed.
It is proposed to amend provision of section 201, so as to extend the time limit from four years to six years.
This amendment will take effect retrospectively from 1st April, 2010.
Extension of time for passing an order under section 201 in certain cases
Under the existing provisions section 201 of the Income-tax Act, a person can be deemed to be an assessee in default, by an order, in respect of non-deduction/short deduction of tax. Such order can be passed within a period of four years from end of financial year in a case where no statement as referred to in section 200 has been filed.
It is proposed to amend provision of section 201, so as to extend the time limit from four years to six years.
This amendment will take effect retrospectively from 1st April, 2010.
No comments:
Post a Comment