Timeframe for finishing assessments and reassessments

If, after the aforementioned time or period, the period of limitation mentioned in various subsections that the assessing officer has available to make an order of evaluation, reevaluation, or recomputation, as the case may be, is less than sixty days, the leftover period will be increased to sixty days, and the aforementioned period of limitation shall be deemed to be extended in accordance with this extension. It is suitable url for getting knowledge about 80g certificate.

Whenever a Settlement Commission proceeding ends as a result of section 245HA after the exclusion of the time under a sub-section of section 245HA, the assessing officer shall have a period of limitation under this section of not less than one year to make an order of assessment, reassessment, or re-computation, as the case may be; and in cases where the limitation period is shorter than a year, it will be considered to have been increased to a year. Additionally, this proviso shall be applicable in accordance with the statutes of limitations under sections 149, 153B, 154, 155, 158BE, and 231 as well as the payment of interest under sections 243, 244, or, where applicable, section 244A.

Beneficial information on tax exemption.

For the purposes of section 150 and this section, an evaluation of such income for another evaluation year shall be deemed to be one created in consequence of or to give legitimacy to any finding or direction contained in the said order when, by an order made reference to in a clause of the aforementioned sub-section, any income is excluded from the overall revenue of the assessee for an assessment year.

For the purposes of section 150 and this section, an evaluation of such income on another individual shall be deemed to be one made in repercussion of or to give effect to any discovery or direction contained in any order mentioned in clause an of sub-section whereby any income is excluded from the total income of one person and held to be the income of another person, provided that the other individual was given an opportunity to be listened to before the assessment was made.

Regardless of anything stated in the first proviso, the regulations of a clause shall take effect as if the words "two years" had been exchanged for the words "three years" if the evaluation year in which the income was first assessable is the assessment year beginning on the first day of April 2009 or any successive assessment year and during the class of the proceeding for the evaluation of total income, a reference under a sub-section of section 92CA is made.

Information on 80g benefits.