CBDT Reduces Time Limit to Re-open Income Tax Assessments - 07.12.2021

Central Board of Direct Taxes (CBDT) has reduced the Time limit to re-open Income Tax assessment from 6 years to 3 years. The assessment can be reopened up to 10 years, only when there is evidence of concealment of income of more than Rs. 50 Lakhs in a year with approval of e Principal Chief Commissioner of Income Tax.

Tags : Central Board of Direct Taxes Re-open Income Tax Assessments

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