[As amended by Finance Act, 2023] 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 company or infrastructure capital fund or a public sector company for notification under clause (48) of section 2 of any zero coupon bond proposed to be issued by it . At least three months before the date of issue of such bond. However it should be noted that an application shall not be made for notification of a bond to be issued after two financial years following the financial year in which the application is made. Submitting certificate of a chartered specifying the amount invested in each year accountant in case of zero coupon bond. Within a period of two months from the end of each financial year Section 9(1) Electronically submission of information in Form No. 49D pertaining to any transfer of the Share of, or interest in, a foreign company/entity. Within 90 days from the end of the financial year in which any such transfer takes place (within 90 days of the transaction where the 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 containing information relating to the fulfilment of the relevant conditions or any information or document which may be prescribed. Within a period of 90 days from the end of financial year Section 10(21) Furnishing (by a research association) a statement to accumulate/set apart income for future application by uploading Form No. 10 Before the expiry of time allowed for submission of return of income under section 139(1)
Period of limitation prescribed under the Income-tax Ac
Aug 04, 2023
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