06 May 2016
Income Tax department can call for the information, before assessment, during assessment as well as after the assessment.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 May 2016
Sir till how many year the deptt. May ask For books of accounts in case of Proprietorship and partnership.... like as per Sec 128 of company act. Deptt. Will not ask For books of accounts after 8 year,
06 May 2016
rule & section apply of that act under which the notice issue. if you are asking the income tax act then you cannot give the ref of company act, custom act or excise act etc. pls dont try to give ref to authority of another act.
09 May 2016
Under Income Tax Act, it depends upon the STAKE of revenue involved in the case. Normally you can say that 4 years is the time. It can get extended upto 8 years in REVENUE leakages. And for larger revenue losses, it can go to any extent. One can NOT take the plea that since so and so years have been elapsed, I will NOT produce the explanation/ books of accounts