Question

certificate under section 281(1)(ii) of the income tax act 1961

Answer 1

Section 281 of the Income Tax Act, 1961 (“ITA”) requires an assessee to obtain permission of the assessing officer (“AO”) before creating a charge on ortransfer of certain assets. The Income Tax department has issued a circular dated July 19, 2010 (“Circular”) setting out the procedure for obtaining such permission.

Answer 2

Income Tax Act 1961 is the charging statue of India.By this act government of the India is able to perform official works about claim,reclaim, collection and recovery of the Income tax.

As India is the second most populated country in the world.The income tax is a major income of Indian government.

According to the question;

Section 281 of the Income tax act 1961 is an important act.It requires an assessee to get permission of a assessing officer.This was created and regulated in the July 29,2010.