Issuance of re-assessment notice beyond 6 years reduced substantially: MoS Finance

Aug 06,2018

Minister of State for Finance Shri Shiv Pratap Shukla ('MoS Finance'), in a written reply in Lok Sabha, updates on the number of cases in which re-opening notices were issued beyond six years; Notices for assessment/reassessment of income of old cases of more than six years from the end of the relevant AY can be issued only where income in relation to any asset (including financial interest in any entity) located outside India, has escaped assessment, such ca...

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