The Income-Tax (I-T) Department is reviewing cases from assessment year (AY) 2018–19 for potential reopening, which may lead to a surge in tax notices. This action follows the Union Budget’s decision to reduce the tax reassessment window to five years. From September 1, assessments for AY 2018–19 will be time barred. Our Partner Kunal Savani shares his views on this in an article published by Business Standard. (Photo Credit: Business Standard)
