How long does an order passed under section 132(3) remain in force?

120 days from the date of order

When should interest and fees on tax due for filing a belated return be paid?

Before furnishing the return of income

Before the end of the financial year

Before the end of the assessment year

After receiving the assessment order

When should a non-corporate taxpayer file their return of income if their accounts are required to be audited?

September 30th of the assessment year

October 31st of the assessment year

July 31st of the assessment year

November 30th of the assessment year

When should a business trust file its return of income if it's not required to file under any other provisions?

Within the time allowed under section 139(1)

Before the end of the assessment year

Before 3 months prior to the end of the relevant assessment year

Within 6 months from the end of the financial year

When should income tax on self-assessment be paid?

Before furnishing the return of income

Before the end of the financial year

Before the end of the assessment year

Before receiving the assessment order

When should the notice be served in case of understatement of income?

Within 3 months from the end of the financial year

Within 1 month from the end of the financial year

Within 6 months from the end of the financial year

Within 9 months from the end of the financial year

When should various associations file their return of income if their total income exceeds the maximum amount not chargeable to tax?

Within the time allowed under section 139(1)

Before the end of the assessment year

Before 3 months prior to the end of the relevant assessment year

Within 6 months from the end of the financial year

When can the deduction claimed and granted to the assessee under section 35ABA be withdrawn if there is a failure to comply with the specified provisions?

Within 5 years from the end of the previous year in which the failure occurs

Within 3 years from the end of the previous year in which the failure occurs

Within 4 years from the end of the previous year in which the failure occurs

Within 2 years from the end of the previous year in which the failure occurs

Within what timeframe should a political party file its return of income?

Within the time allowed under section 139(1)

Before the end of the assessment year

Before 3 months prior to the end of the relevant assessment year

Within 6 months from the end of the financial year

When should an entity get its accounts audited by an accountant and furnish a report under Section 44AB?

Before the specified date referred to in section 44AB

One month prior to the due date of furnishing the return of income under section 139(1)

Two months prior to the due date specified under section 139(1)

At least 6 months prior to expiry of the approval period

When should a company file its return of income?

October 31st of the assessment year

July 31st of the assessment year

November 30th of the assessment year

September 30th of the assessment year

Within what timeframe should impounded books be handed over to the Income Tax Officer (ITO) having jurisdiction?

60 days from the date on which the last of the authorizations for search was executed

30 days from the date of seizure

90 days from the date of seizure

15 days from the date on which the last of the authorizations for search was executed

When should a business trust file its return of income if it is not required to file under any other provisions?

Within time allowed under section 139(1)

Within 1 year from the end of the relevant assessment year

Before 6 months prior to the end of the relevant assessment year

Within 3 months from the end of the relevant assessment year

When should a taxpayer file an application for the allotment of a permanent account number (PAN)?

Within 60 days from the end of the relevant assessment year

Within 15 days from the end of the relevant assessment year

Within 30 days from the end of the relevant assessment year

Within 45 days from the end of the relevant assessment year

When should a political party file its return of income?

Within the time allowed under section 139(1)

Before 3 months prior to the end of the relevant assessment year

Before 6 months prior to the end of the relevant assessment year

Before 1 year from the end of the relevant assessment year

What is the deadline for filing a return of income by a company other than those requiring a report in Form No. 3CEB under section 92E?

October 31st of the assessment year

July 31st of the assessment year

November 30th of the assessment year

September 30th of the assessment year

When should an audit report be furnished to certify the income computed by way of royalties under Section 50B?

At least 6 months prior to expiry of the approval period

One month prior to the due date of furnishing the return of income under section 139(1)

Two months prior to the due date specified under section 139(1)

Before the specified date referred to in section 44AB

When should the intimation under section 143(1) be sent?

Within 6 months from the end of the financial year

Within 9 months from the end of the financial year

Within 12 months from the end of the financial year

Within 15 months from the end of the financial year

When should a taxpayer challenge the jurisdiction of the Assessing Officer?

Before expiry of 1 month from the date on which a notice under section 142(1) or 143(2) is served or before the completion of assessment, whichever is earlier

Before the expiry of 3 months from the date of notice under section 148

Within 3 months from the date of completion of assessment

Before the expiry of 1 month from the date of notice under section 139(1)

Within what timeframe should a taxpayer furnish an updated return?

Within 12 months from the end of the relevant assessment year

Within 24 months from the end of the relevant assessment year

Within 6 months from the end of the relevant assessment year

Within 18 months from the end of the relevant assessment year

How many days does the assessee have to furnish a reply to a show cause notice under Section 148A?

Not less than 7 days but not exceeding 30 days

Not less than 15 days but not exceeding 45 days

Not less than 30 days but not exceeding 60 days

Not less than 60 days but not exceeding 90 days

When can a taxpayer file a revised return of income?

Any time before 3 months prior to the end of the relevant assessment year or before completion of assessment, whichever is earlier

Within 6 months from the end of the financial year

Any time before the end of the assessment year

Any time before the end of the relevant assessment year

Is there a time limit for issuing a notice under Section 148 pursuant to any finding or direction?

Yes, within 6 years from the end of the relevant assessment year

No, there is no time limit specified

Yes, within 10 years from the end of the relevant assessment year

Yes, within 12 years from the end of the relevant assessment year

MCQ on limitation by time in Income Tax Act, 1961

Authored by Satish Bhadani

Education

Professional Development

Used 3+ times

MCQ on limitation by time in Income Tax Act, 1961

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Within what timeframe should a taxpayer file a return of loss?

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When should a representative assessee file a return of income?

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How long can authorised officers retain books of account or other documents seized under section 132(1) without approval?

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After the expiry of a provisional attachment order made under section 132(9B), how long should it remain in force?

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Within what timeframe should a reference to a valuation officer to estimate the fair market value of property be made?

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How long can income-tax authorities retain impounded books of account or documents without approval?

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When can a taxpayer file a belated return of income?

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MCQ on limitation by time in Income Tax Act, 1961

Within what timeframe should a taxpayer file a return of loss?

When should a representative assessee file a return of income?

How long can authorised officers retain books of account or other documents seized under section 132(1) without approval?

After the expiry of a provisional attachment order made under section 132(9B), how long should it remain in force?

Within what timeframe should a reference to a valuation officer to estimate the fair market value of property be made?

How long can income-tax authorities retain impounded books of account or documents without approval?

When can a taxpayer file a belated return of income?

When should various entities, including research associations, news agencies, and educational institutions, file their returns of income?

When should a university, college, or other institution referred to in section 35(1)(ii) and 35(1)(iii) file its return of income?

For how many days can authorized officers retain books of account or other documents seized under section 132(1) or 132(1A) without approval?

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