Wednesday 1 May 2013

I-T returns may require disclosure of all assets - The Economic Times

I-T returns may require disclosure of all assets - The Economic Times

Please kindly go through the above news item. May be it is putting extra burden on CAs this year. But this will help them in the future whenever any survey or search takes place. It will be easy for assessees to explain away all the assets they have. The clients also will not blame the Chartered Accountants if they do not reveal their assets to them and if later found out they have to face the music from the Incometax Department

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