limitation vs time limit

limitation and time limit both are nouns.

Word	Noun	Adjective	Verb	Adverb
limitation	Yes	No	No	No
time limit	Yes	No	No	No

As nouns, time limit is a hypernym of limitation; that is, time limit is a word with a broader meaning than limitation:

limitation (noun)	time limit (noun)
an act of limiting or restricting (as by regulation)	a time period within which something must be done or completed
the quality of being limited or restricted
a principle that limits the extent of something
the greatest amount of something that is possible or allowed
(law) a time period after which suits cannot be brought