Assessment Year |
Minimum income which has been escaped from assessment |
If original assessment is completed
U/s 143(3) or 147 |
If original assessment is completed under any other section. |
2002-2003 to 2011-12 (Note-7) |
- (Note-2) |
- (Note-4) |
2012-2013 (Note-5) |
1,00,000 (Note-2) |
1,00,000 (Note-4) |
2013-2014 |
1,00,000(Note-2) |
1,00,000 (Note-4 |
2014-2015 |
Any (Note-1) |
Any (Note-3) |
2015-2016 |
Any (Note-1) |
Any (Note-3) |
2016-2017 |
Any (Note-1) |
Any (Note-3) |
2017-2018 |
Any (Note-1) |
Any (Note-3) |
Notes:
1. Any Assessing Officer who is not below the rank of Assistant Commissioner or Deputy Commissioner can issue notice. An Assessing Officer who is below the rank of Assistant Commissioner or Deputy Commissioner can issue notice only if the Joint Commissioner (or Additional Commissioner) is satisfied on the reasons recorded by such Assessing Officer that it is a fit case for issue of such notice. From June 1,2015, no notice shall be issued by an Assessing Officer (who is below the rank of Joint Commissioner) unless the Joint Commissioner is satisfied, on the reasons recorded by such Assessing Officer, that it is a fit case for the issue of such notice.
2. Notice mentioned in point (1) (supra) can be issued only if the Chief Commissioner/Commissioner is satisfied on the reasons recorded by the Assessing Officer that it is a fit case for issue of notice. From June 1, 2015, no notice shall be issued by an Assessing Officer unless the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner is satisfied, on the reasons recorded by the Assessing Officer, that it is a fit case for the issue of such notice.
3. Notice can be issued by the Assessing Officer. From June 1, 2015, no notice shall be issued by an Assessing Officer (who is below the rank of Joint Commissioner) unless the Joint Commissioner is satisfied, on the reasons recorded by such Assessing Officer, that it is a fit case for the issue of such notice.
4. No notice can be issued by the Assessing Officer who is below the rank of Joint Commissioner (or Additional Commissioner) unless the Joint Commissioner (or Additional Commissioner) is satisfied that on the reason recorded by Assessing Officer that it is a fit case for issue of such notice. From June 1, 2015, no notice shall be issued by an Assessing Officer unless the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner is satisfied, on the reasons recorded by the Assessing Officer, that it is a fit case for the issue of such notice.
5. If the person on whom notice under section 148 is to be served during the financial year 2018-19 is a person treated as an agent of a non-resident (under Section 163), the notice shall not be issued for assessment years prior to the assessment year 2012-13.
6. During the financial year 2018-19, notice cannot be issued for any assessment year, prior to the assessment year 2012-13 unless escapement of income is in relation to any asset located outside India [see also two exceptions given by section 150 and the proviso to section 147].
7. During the financial year 20 18-19, notice can be issued for assessment years 2002-03 to 2011-12, only if escapement of income is in relation to any asset located outside India.
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