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Time Limit for reopening the Asseement

Posted @ July 30, 2012, 9:47 pm under (Income Tax Updates)

 

General Time Limit is 6 years and 
 
If a person is found to have any asset (including financial interest in an entity) located outside India, in that case, the taxman can go back up to 16 years for reopening of assessment.
 

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