66K views · 1.4K reactions | The Income Tax Department to issue notices to 700 investors involved in high-value crypto transactions. | Indiatimes | Facebook
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Budget update! 🚨Income tax notices are expected this month as new reassessment rules from the budget come into effect from September 1st. Cases older than 5 years can’t be reopened unless the unpaid tax is over ₹50 lakh. Previously, this limit was 10 years. For amounts less than ₹50 lakh, the limit is 3 years. The income tax department has until August 31st to send reassessment notices for FY 2013-14 to 2017-18. This change aims to reduce tax litigations and disputes, relieving taxpayers from w
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