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of <h1>Finance Bill 2023: Amendments to Income-tax Act Section 132 on Search, Seizure, and Property Valuation Explained</h1> Clause 63 of the Finance Bill, 2023, proposes amendments to section 132 of the Income-tax Act concerning search and seizure. The revised sub-section (2) allows an authorized officer to requisition assistance from police officers, Central Government officers, or approved entities during searches. Sub-section (9D) permits the officer to refer to a Valuation Officer or approved valuer to estimate property value within sixty days post-search. These changes are effective from April 1, 2023. Additionally, Explanation 1 clarifies the execution of search authorizations, effective retrospectively from April 1, 2022.
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