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What is Disclosure of information respecting assessees? Section 138 of Income Tax Act 1961

Disclosure of information respecting assessees is defined under section 138 of Income Tax Act 1961. Provisions under this Section is :

Section 138 of Income Tax Act "Disclosure of information respecting assessees"

Section 138. (1)(a) The Board or any other income-tax authority specified by it by a general or special order in this behalf may furnish or cause to be furnished to-

(i) any officer, authority or body performing any functions under any law relating to the imposition of any tax, duty or cess, or to dealings in foreign exchange as defined in 47[clause (n) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999)]; or

(ii) such officer, authority or body performing functions under any other law as the Central Government may, if in its opinion it is necessary so to do in the public interest, specify by notification in the Official Gazette in this behalf, any such information received or obtained by any income-tax authority in the performance of his functions under this Act, as may, in the opinion of the Board or other income-tax authority, be necessary for the purpose of enabling the officer, authority or body to perform his or its functions under that law.

 

(b) Where a person makes an application to the [Principal Chief Commissioner or] Chief Commissioner or [Principal Commissioner or Commissioner] in the prescribed form49 for any information relating to any assessee received or obtained by any income-tax authority in the performance of his functions under this Act, the [Principal Chief Commissioner or] Chief Commissioner or 48[Principal Commissioner or] Commissioner may, if he is satisfied that it is in the public interest so to do, furnish or cause to be furnished the information asked for and his decision in this behalf shall be final and shall not be called in question in any court of law.

(2) Notwithstanding anything contained in sub-section (1) or any other law for the time being in force, the Central Government may, having regard to the practices and usages customary or any other relevant factors, by order notified in the Official Gazette, direct that no information or document shall be furnished or produced by a public servant in respect of such matters relating to such class of assessees or except to such authorities as may be specified in the order.

   
 

Income Tax Act 1961

What is the Power of [Principal Director General or] Director General or [Principal Director or] Director, [Principal Chief Commissioner or] Chief Commissioner or [Principal Commissioner or] Commissioner and Joint Commissioner? Is Proceedings before income-tax authorities to be judicial proceedings? Section 135 and 136 of Income Tax Act 1961

What is Disclosure of information respecting assessees? Section 138 of Income Tax Act 1961

What is Return of income? Section 139 of Income Tax Act 1961

What is Permanent account number? Section 139A of Income Tax Act 1961

What is Scheme for submission of returns through Tax Return Preparers? Section 139B of Income Tax Act 1961

What is Power of Board to dispense with furnishing documents, etc., with return? What is Filing of return in electronic form? Section 139C and 139D of Income Tax Act 1961

Income Tax Return by whom to be verified? What is Self-assessment? Section 140 and 140A of Income Tax Act 1961

What is Inquiry before assessment? What is Estimation of value of assets by Valuation Officer? Section 142 and 142A of Income Tax Act 1961

What is Assessment? What is Best judgment assessment? Section 143 and 144 of Income Tax Act 1961

What is Power of Joint Commissioner to issue directions in certain cases? What is Reference to Commissioner in certain cases? Section 144A and 144BA of Income Tax Act 1961

What is Reference to dispute resolution panel? Section 144C of Income Tax Act 1961

What is Method of accounting? What is Method of Accounting in certain cases? Section 145 and 145A of Income Tax Act 1961

What is Income escaping assessment? What is Issue of notice where income has escaped assessment? Section 147 and 148 of Income Tax Act 1961

What is Time limit for notice? What are the Provision for cases where assessment is in pursuance of an order on appeal, etc? Section 149 and 150 of Income Tax Act 1961

 

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