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Revision as of 16:54, 12 May 2026


The IRS has set many tax deductions and benefits secured for taxpayers. Unfortunately, some taxpayers who are earning a higher level of income can see these benefits phased out as their income climbs.

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

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