FIRST RIGHT OF IT DEPARTMENT ON SOLD AND MORTGAGED PROPERTY TO RECOVER ITS DUES
FIRST RIGHT OF IT DEPARTMENT ON SOLD AND MORTGAGED PROPERTY TO RECOVER ITS DUES Introduction Section 281 of the Income-tax Act, 1961 (ITA) is one of such sections which may have a serious impact on taxpayers acquiring any right in a property. The crux of the section is that, in certain situations, transfer of an
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