Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Budget Extravaganza »
Open DEMAT Account in 24 hrs
 All outstanding personal tax demand notices up to Rs 25,000 withdrawn till FY 2014-15 in Budget 2024
 Budget 2024: Why there is an urgent need to hike Section 80C deduction ceiling for income tax benefits
 Budget 2024: Long term capital gains tax and the holding period for different assets explained
 No increase likely in income tax rebate in interim budget: FinMin official
 Income tax expectations for Budget 2024: Focus on medical insurance and capital gains tax
 Whole world looking at India s budget with hope
 Pre-budget expectations for salaried individuals on tax relief Budget 2023
 Centre expected to introduce new income tax slabs in Budget 2023: Report
 Budget 2023: Pre-budget expectations for salaried individuals on tax relief
  Will non-extension of tax benefits for affordable housing impact sales Budget 2022
 Budget 2022 allows 2 more years to file ITR; Know the whopping cost of delay in filing

Budget 2013: Government shouldn't reopen old tax assessment cases, says Assocham
January, 08th 2013

Industry body Assocham today demanded that the government should not reopen tax assessment cases which are beyond three years as it leads to unnecessary "harassment" of taxpayers.

In its pre-budget memorandum to Finance Minister P Chidambaram, it has sought "changes in Sections 147/148 of the Income Tax Act. These sections relate to the tax re-assessment on matters already examined or in a blanket manner".

The chamber said that the re-opening of cases leads to "extreme harassment of all assessees".

It said that in recent times, tax reopening notices under the sections have become very common and such notices are being served in thousands across the country.

"It appears that there is no consideration in following the principles on the subject laid down by the Supreme Court and High Courts over the years," it added.

Assocham President Rajkumar Dhoot said the provisions relating to reopening of tax assessments are being misused in different locations, particularly for salaried assessees, where scrutiny assessment is not possible as per the CBDT ( Central Board of Direct Tax) guidelines.

"This has become a breeding ground for corruption and harassment," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting