History Belonging To The Federal Taxes: Difference between revisions

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Revision as of 20:27, 10 November 2024

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B) Interest earned, although not paid, during a bond year, must be accrued after the bond year and reported as taxable income for that calendar year in that this bond year ends.

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If any books of accounts, documents, assets found or seized belong to any other person, the concerned AO shall proceed against other person as provided u/s 153A and 153B. The assessment u/s 153C should be also completed with twenty one months around the end among the financial year when the search was conducted like assessment u/s 153A.

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