Menu
INCOME TAX RAID PROCEDURE
What are the tax implication if raids are conducted plz me answer in layman language
Replies (1)
in consequence of raid conducted us 132, 1. you will receive a notice U/s 153A requiring to file the returns of 6 years immediately preceeding the year in which the search was started.
2. your income of these 6years will be assessed and new tax liability will be determined on completion of assessment made u/s 153A.
3. whatever the money and other valuable assets were seized during the raid will be utilized to recover the existing tax liability and new liability determined u/s 153A.
2. your income of these 6years will be assessed and new tax liability will be determined on completion of assessment made u/s 153A.
3. whatever the money and other valuable assets were seized during the raid will be utilized to recover the existing tax liability and new liability determined u/s 153A.
Recent Topic
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
- INCOME RECEIVED FROM COMPANY FOR ELECTRIC POLLS
- ITR Processing By CPC Now Super Fast - Much apprec
- Abroad Jobs
- Professional Income in 44AD
- Presumptive taxation
Related Topics
CAclubindia
