What is the time limit for making the assessment under section 144 i.e. best judgment assessment?

Ans. As per section 153, the time limit for making assessment under section 144 is:-

1. Within 21 months from the end of the assessment year in which the income was first assessable. [For assessment year 2017-18 or before]

2. 18 months from the end of the assessment year in which the income was first assessable. [for assessment year 2018-19]

3. 12 months from the end of the assessment year in which the income was first assessable [Assessment year 2019-20 and onwards]

Note: If reference is made to TPO, the period available for assessment shall be extended by 12 months