Section 271AAB Penalty Provisions Not Applicable for Searches Initiated After 1st Sept 2024

Last updated: 01 February 2025 Follow on Google News

Non-applicability of Section 271AAB of the Act The existing provisions of sub-section (1A) of section 271AAB of the Act relates to penalty in respect of searches initiated after 15.12.2016. 2. Vide Finance Act, 2024, provisions of 'Block Assessment' (Chapter XIV-B) were introduced for searches in

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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