New Section 34ACC: Valuers Must Report Convictions or Misconduct to Board Under Wealth-tax Act
The Taxation Laws (Amendment) Act, 1984, introduces a new section 34ACC to the Wealth-tax Act, 1957, effective from October 1, 1984. This section mandates that any person registered or applying for registration as a valuer under section 34AB must inform the Board if they are convicted of an offense resulting in imprisonment or found guilty of professional misconduct by a relevant professional association or institution. This notification must occur immediately following the conviction or finding of misconduct.
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