TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Act 2003 Updates Section 132B, Requires Asset Release Application Within 30 Days Post-Seizure, Aligns with Section 153A.</h1> Section 132B of the Income-tax Act was amended by the Finance Act, 2003, effective June 1, 2003. In sub-section (1), clause (i) was revised to replace references to Chapter XIV-B with section 153A, addressing assessments for the year relevant to searches or requisitions. The first proviso was amended to require individuals to apply for asset release within thirty days after seizure, with an explanation of the asset's acquisition. Sub-section (4), clause (b) was updated to include references to section 153A alongside Chapter XIV-B for assessment purposes.
TaxTMI 
TaxTMI 
