Chart : Time Limitation of 15 Types of Rectification Under Income Tax Act

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It is generally known that section 154 of the Income tax Act deals with the rectification of  an order passed by the assessing officer.That provision is applicable only when the assessing officer finds apparent mistake in his/her order or intimation or any order which requires amendment due to appeal or revision u/s 263 or 264. However, Income Tax Act provides at least 14 other types of rectification or amendment of total income of assessee which may be necessary due to various reasons . For example, say while making assessment of a firm , the remuneration paid to partner and claimed as deduction from profit of firm is disallowed. In that case , the total income of the partner also requires rectification subsequent to passing order in case of firm.

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