WEBINAR ON THE LAW OF REASSESSMENT – A PARADIGM SHIFT

Reopening of Assessments has always been a point of litigation and with the amendment to the Income Tax Act by Finance Bill 2021, a new re-assessment procedure for income escaping assessment has been enacted.

The new reassessment procedure provides for reducing time-limit for reopening of assessment from 6 years to 3 years from the end of the relevant assessment year. The procedure further provides that the 3 years time-limit can be increased to 10 years if the A.O has in his possession evidence that the income chargeable to tax, represented in the form of asset has escaped assessment to tune of Rs. 50 lakh or more. The amendment has brought in far reaching changes in the entire scheme of reassessment.

With a view to understand the new reassessment provisions and a comparative analysis of the old and new procedure of reassessment, Direct Taxes Committee of Chamber of Tax Consultants has organized a webinar as under:–

After registering, you will receive a confirmation email containing information about joining the webinar. Then click on the link to join the webinar.