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 Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Search operations after September 1, 2024 require block period assessment under sections 132/132A with 60% tax rate</h1> Following search operations under sections 132 or 132A conducted after September 1, 2024, assessing officers must assess total undisclosed income for the relevant block period under special provisions. Any pending assessments for years within the block period automatically abate upon search initiation. Undisclosed income from the block period is taxed at 60% plus surcharge and cess regardless of the specific year it relates to. If block assessment orders are annulled on appeal, previously abated assessments revive from the annulment date. Income for the assessment year when the final search authorization is executed is assessed separately under regular provisions.
TaxTMI 
TaxTMI 
