CAF-2 · Chapter 14 · Question 10 of 15
What is the absolute statutory time limit beyond which a wealth statement CANNOT be revised?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) C) After the expiry of 5 years from the due date of filing of return of income for that tax year.
Explanation
For the removal of doubt, the law clarifies that a wealth statement cannot be revised after the expiry of five years from the due date of filing of the return of income for that tax year.
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