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CMA Final · Direct Tax Laws and International Taxation · Black Money Act, 2015

Which statement about section 32 of the Black Money Act is correct?

A claim on the property covered by a section 32(4) notice that arises after the date of the notice is void as against the demand in the notice. The other statements contradict the section, which permits amendment or revocation and requires a copy to the assessee.

  1. AAny claim on property covered by a section 32(4) notice, arising after the date of the notice, is void against the demand in the noticeCorrect
  2. BThe Assessing Officer cannot amend or revoke a notice once issued under sub-section (4)
  3. CThe employer can be required to deduct from payment to the assessee only with the assessee's written consent
  4. DA copy of the notice to the debtor need not be sent to the assessee

Explanation

Section 32(8) says any claim in respect of property covered by a sub-section (4) notice, arising after the date of the notice, is void against the demand in the notice. Sub-section (11) allows amendment or revocation. Sub-section (1) needs no consent, and sub-section (6) requires a copy to the assessee.

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