Time Limit for completion of Assessment u/s. 143 or 144 of the Income-tax Act, 1961: AY 2016-17  -  withing 21 months from the end of Assessment Year i.e. 31.12.2018 AY 2017-18  -  withing 21 months from the end of Assessment Year i.e. 31.12.2019 AY 2018-19  -  withing 18 months from the end of Assessment Year i.e. 30.09.2020 AY 2019-20  -  withing 12 months from the end of Assessment Year i.e. 31.03.2021 Period of Limitation Table  under the Income-tax Act, 1961

Individual: Up to Rs. 2,50,000 Nil Rs. 2,50,001 to Rs. 5,00,000 5% Rs. 5,00,001 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% * Surcharge: 10% if total income exceeds Rs. 50 lacs and 15% if total income exceeds Rs. 1 Crore *  Health & Education cess at 4% of Income Tax & Surcharge *  Relief u/s 87A up to Rs. 2,500 for resident individuals having total income of up to Rs. 3,50,000 Senior Citizen: Up to Rs. 3,00,000 Nil Rs. 3,00,001 to Rs. 5,00,000 5% Rs. 5,00,001 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% *  Surcharge: 10% if total income exceeds Rs. 50 lacs and 15% if total income exceeds Rs. 1 Crore *  Health & Education cess at 4% of Income Tax & Surcharge *  Relief u/s 87A up to Rs. 2,500 for resident individuals having total income of up to Rs. 3,50,000 Super Senior Citizen: Up to Rs. 5,00,000 Nil Rs. 5,00,001 to Rs. 10,00,000 20% Above Rs. 10,00,000 30% *  Surcharge: 10% if total income exceeds Rs. 50 lacs and 15% if

Hon'able Finance Minister Shri Arun Jaitley presented Union Budget 2018 on February 01, 2018 Budget Glossary Key to Budget Documents Finance Bill 2018 Memorandum Explaining Provisions of Finance Bill  2018