Need A Financial Product › Forums › Tax Savings › Till what time Income tax officer can retain sealed books of accounts? › Till-what-time-Income-tax-officer-can-retain-sealed-books-of-accounts_REPLY
September 17, 2014 at 1:19 am
#47371
samkapoor77Keymaster
Under section 132(8) of the Income tax act, the Income tax officer has the power to retain legal documents and accounts book seized by him for the period of 180 days. In case the income tax officer keeps the books and other documents more than the mentioned period is required an order is to be passed by the commissioner of the income tax and in the absence of such order the income tax officer is bound by law to lease the accounts book and documents of the trader.