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Provisional attachment of property in India is given in Section 281 of the Income Tax Act, 1961. It specifically deals with everything related to the attachment of the property under Income Tax Laws, including the circumstances under which the attachment may be ordered, the process for issuing an attachment order, procedure and rights of the individuals affected by such attachment orders. This article covers everything related to the provisional attachment of property given under the Income Tax Act 1961[1].
Table of Contents
The provisions related to the attachment of property are given under Section 281 of the Income Tax Act, 1961. These provisions are given mentioned below in great detail:-
The procedure for attachment of property according to the provisions laid down in the Income Tax Act of 1961 is mentioned below:-
However, it is always important to keep in mind that the attachment of property under Income Tax laws is a complicated process, and it’s better to seek the advice of a professional expert before going into any tax-related matter.
In a nutshell, it can be concluded that the attachment of property under Income Tax Laws is a complicated and hectic process. Many things need to be taken into account before attaching any type of property under the Income Tax Act of 1961.
Read our Article: The Concept of Depreciation under Income Tax Act
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