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Category Archives: Income Declaration Scheme 2016

Income Declaration Scheme 2016 : Back door Elimination of section 149 (Time Limit for Re-Opening of an Assessment)

The Income Declaration Scheme 2016 has indirectly eliminated the section 149 of the Income Tax Act by introducing section 197(c) of the Finance Act, 2016. How it is done, is explained below. As per the current provisions of the Income Tax Act, 1961 section 147 to 151 deals with re-opening of assessment. Section 147 : […]

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