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Revision as of 03:12, 15 August 2026
The term "Raid in Indian Tax Law" is incredulous and any unexpected encounter with IT sleuths generally within chaos and vacuity. If you are likely to experience such action it is much better to familiarise with the subject, so that, the situation can be faced with confidence and serenity. Income tax Raid is conducted with the sole objective to unearth tax avoidance. It's the process which authorizes IT department to locate any residential / business premises, vehicles and bank lockers etc. and seize the accounts, stocks and valuables.
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What may be the rate? At the rate or rates enacted by Central Act respectable Assessment Years. It's varies between 10% - 30% of taxable income excluding the basic exemption limit applicable into the tax payer.
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