Section 132 to 139 of Income Tax Act 1961.

Under Section 132, the Income Tax Authority is empowered to conduct:

• Survey

• Search and seizure

• Assessment

• Scrutiny only after notice

A search under Section 132 can be conducted if the authority believes that a person is:

• Paying tax regularly

• Likely to leave India

• In possession of undisclosed income or property

• A salaried employee

Under Section 132A, what kind of assets can be requisitioned?

• Movable and immovable property

• Only gold ornaments

• Land and buildings only

• Cash, bullion, books of account, or documents

The requisition under Section 132A must be based on:

• Public rumor

• Reason to believe

• Anonymous complaint

• Information on social media

Section 132B provides for:

• Mode of conducting survey

• Disposal of seized assets

• Time limit for filing return

• Deduction under salary

As per Section 132B, seized money can be adjusted against:

• Agricultural income

• Penalty not related to search

• Existing tax liability or demand

• Insurance premium

Section 133 gives the power to call for information from:

• Charitable trusts only

• Only salaried employees

• Any person including banks and firms

• Only company directors

Under Section 133A, a survey can be conducted only during:

• Any time of the day

• Midnight only

• Business hours

• Public holidays only

Which of the following is true about Section 133B?

• It is about power to reassess income

• It allows survey for verification of documents only

• It is related to reassessment after 6 years

• It is not applicable to firms

Which section provides power to verify documents without conducting a detailed survey or search?

• Section 133B

• Section 132

• Section 133A

• Section 134