Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Direct & Indirect Taxes, Tax Ready Reckoner, Tax Management, Tax Act. & Rules, Tax Planning & Tax Savings.

Search & Seizure

Search & Seizure under Section 132 of Income Tax Act.

[Section 132]- Search and Seizure – Under Income Tax Act.

1.  Authority who can issue Order for Search and Seizure U/s 132: Search and seizure can be authorised by— (a)     the Principal Director General of Income Tax/Director General of Income Tax, or (b)     the Principal Director of Income Tax/Director of Income Tax, or (c)     the Principal Chief Commissioner of Income Tax/Chief Commissioner of …

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Procedure for Assessment of Search Cases-[Sections 153A, 153B and 153C]

1.   [Section 153A(1)(a)]- Notice for Filing Return: Where a search is initiated under section 132 or books of account, or other documents or any assets are requisitioned under section 132A, the Assessing Officer shall issue notice to such person requiring him to furnish, within such period as may be specified in the notice, return of …

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[Section 133A] – ‘Survey’ under Income Tax Act.

‘Survey’ contemplates a comprehensive and extensive view of the business or charitable activities of an assessee, subject to the limitations laid down in the Income-tax Act. The survey is conducted by the Income Tax Department to achieve the following 3 objects: 1.  To bring those into tax net who have taxable income but are not …

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