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WorksheetsMCQ on limitation by time in Income Tax Act, 1961
Total questions: 62
Worksheet time: 31mins
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?
How long does an order passed under section 132(3) remain in force?
30 days from the date of order
90 days from the date of order
60 days from the date of order
120 days from the date of order
When should interest and fees on tax due for filing a belated return be paid?
Before the end of the financial year
Before the end of the assessment year
Before furnishing the return of income
After receiving the assessment order
Within how many days should the assessment be completed upon receiving directions under Section 144C(5)?
Within 15 days
Within 30 days
Within 45 days
Within 60 days
How long after the last of the authorizations or requisitions under section 132 or 132A are executed should assets seized be released after recovery of existing liability?
Within 60 days
Within 90 days
Within 120 days
Within 180 days
When should a non-corporate taxpayer file their return of income if their accounts are required to be audited?
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 a business trust file its return of income if it's not required to file under any other provisions?
Before the end of the assessment year
Within the time allowed under section 139(1)
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 the end of the financial year
Before the end of the assessment year
Before furnishing the return of income
Before receiving the assessment order
Within how many days of the issue of the intimation should the objection be sent?
Within 7 days
Within 15 days
Within 30 days
Within 45 days
Within what timeframe should the taxpayer furnish objections to the notice of invoking GAAR provisions?
Within 30 days
Within 45 days
Within 60 days
Within 90 days
How long can the authorised officer retain books of account seized under section 132(1) without approval?
Not more than 90 days
Not more than 120 days
Not more than 180 days
Not more than 60 days
When should the notice be served in case of understatement of income?
Within 1 month from the end of the financial year
Within 3 months 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
Within what timeframe should an assessee be required to furnish a return of income?
Within 1 month
Within 2 months
Within 3 months
Within 6 months
Within what timeframe should the report by the Valuation Officer be sent to the Assessing Officer?
Within 1 month
Within 3 months
Within 6 months
Within 12 months
When should various associations file their return of income if their total income exceeds the maximum amount not chargeable to tax?
Before the end of the assessment year
Within the time allowed under section 139(1)
Before 3 months prior to the end of the relevant assessment year
Within 6 months from the end of the financial year
Within what timeframe should the eligible taxpayer file a response to the draft order?
Within 7 days
Within 15 days
Within 30 days
Within 45 days
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 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 5 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?
Before the end of the assessment year
Within the time allowed under section 139(1)
Before 3 months prior to the end of the relevant assessment year
Within 6 months from the end of the financial year
Within what timeframe should the assessment order be passed after receipt of acceptance or expiry of filing objections?
Within 15 days
Within 1 month
Within 2 months
Within 3 months
What rule governs the time frame for filing an application for the allotment of a permanent account number (PAN)?
Rule 114(2)
Rule 114(3)
Rule 114(4)
Rule 114(5)
When should an entity get its accounts audited by an accountant and furnish a report under 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
Before the specified date referred to in section 44AB
What is the time limit for making assessment/reassessment under Section 147 if the notice is served before 01-04-2019?
Within 6 months
Within 9 months
Within 12 months
Within 15 months
Within how many months from the end of the month should the direction be issued?
Within 3 months
Within 6 months
Within 9 months
Within 12 months
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 directions be issued under Section 144C(5)?
Within 6 months
Within 9 months
Within 12 months
Within 15 months
Within what timeframe should impounded books be handed over to the Income Tax Officer (ITO) having jurisdiction?
30 days from the date of seizure
90 days from the date of seizure
60 days from the date on which the last of the authorizations for search was executed
15 days from the date on which the last of the authorizations for search was executed
When can a taxpayer file a belated return of income?
Within 1 month after the due date of filing
Before the end of the assessment year
Anytime 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
What is the time limit for passing an assessment order under Section 143 or 144 for the assessment year 2023-24?
Within 9 months
Within 12 months
Within 15 months
Within 18 months
How long can the Assessing Officer retain impounded books or documents without obtaining approval?
Not more than 30 days
Not more than 60 days
Not more than 90 days
Not more than 15 days
When should a business trust file its return of income if it is not required to file under any other provisions?
Within 1 year from the end of the relevant assessment year
Before 6 months prior to the end of the relevant assessment year
Within time allowed under section 139(1)
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 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
Within 60 days from the end of the relevant assessment year
When should a political party file its return of income?
Before 3 months prior to the end of the relevant assessment year
Within the time allowed under section 139(1)
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?
July 31st of the assessment year
October 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?
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
Before the specified date referred to in section 44AB
When should a provisional attachment order made under section 132(9B) expire?
After 1 month from the date of the order
After 3 months from the date of the order
After 6 months from the date of the order
After 12 months from the date of the order
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 the expiry of 3 months from the date of notice under section 148
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
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
Within how many days from the date on which the last of the authorizations for search was executed should the provisional attachment of property be made to protect the interest of revenue?
Within 30 days
Within 45 days
Within 60 days
Within 90 days
When can a taxpayer file a revised return of income?
Within 6 months from the end of the financial year
Any time before the end of the assessment year
Any time before 3 months prior to the end of the relevant assessment year or before completion of assessment, whichever is earlier
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
Within what timeframe should universities, colleges, or other institutions file their return of income if they are not required to file under any other provisions?
Before the end of the assessment year
Within the time allowed under section 139(1)
Before 3 months prior to the end of the relevant assessment year
Within 6 months fro
How long does a taxpayer have to rectify a defect in the return of income as intimated by the Assessing Officer?
Within 7 days from the date of intimation
Within 30 days from the date of intimation
Within 15 days from the date of intimation
Within 60 days from the date of intimation
When should an audit report be furnished to certify the income computed by way of royalties under Section 44DA?
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)
Within 6 months from the end of the year or such extended period as the Competent Authority may allow
Within 4 years from the end of the previous year in which the failure to comply occurs
Within what timeframe should assets seized be released after recovery of an existing liability?
Within 60 days from the date of seizure
Within 90 days from the date of seizure
Within 120 days from the date on which the last of the authorisations/requisitions under section 132/132A was executed
Within 180 days from the date on which the last of the authorisations/requisitions under section 132/132A was executed
What is the time limit for issuing a notice under Section 148 for escaped assessment of less than Rs. 50,00,000?
Within 1 year from the end of the relevant assessment year
Within 3 years from the end of the relevant assessment year
Within 5 years from the end of the relevant assessment year
Within 7 years from the end of the relevant assessment year
When should an application for the allotment of a Permanent Account Number (PAN) be filed?
Before 3 months from the end of the relevant assessment year
Before 1 year from the end of the relevant assessment year
Within 3 months from the end of the relevant assessment year
Within time allowed under rule 114(3)
When can a taxpayer challenge the jurisdiction of the Assessing Officer?
Before the expiry of 1 month from the date on which a notice under section 142(1) or 143(2) is served
Before the expiry of 1 month from the date on which a notice under section 148 for making the return is served
Before the completion of assessment
All of the above
Within what period should the AO give effect to an order under Sections 250/254/260/262/263/264?
Within 1 month
Within 2 months
Within 3 months
Within 6 months
Within what period should the AO modify an order in conformity with the TPO's order?
Within 1 month
Within 2 months
Within 3 months
Within 6 months
When should an application be made to the Assessing Officer for the release of an asset seized under section 132?
Within 15 days from the date of seizure
Within 30 days from the end of the month in which the asset was seized
Within 45 days from the date of seizure
Within 60 days from the end of the month in which the asset was seized
What is the time limit for making an order of fresh assessment under Section 153(3)?
Within 6 months
Within 9 months
Within 12 months
Within 18 months
