Reassessment Notice Under Section 148 Explained
A Reassessment Notice under Section 148 is issued by the Income Tax Department when it believes that a taxpayer’s income has escaped assessment (i.e., not reported or underreported in earlier returns). This process is governed under the Income Tax Act, 1961, specifically Sections 147 to 151. What is Section 148 Notice? A notice under Section 148 is: Why is a Reassessment […]