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Consider the following statements regarding new Income Tax Return Norms:

1. IT department introduces a new set of Income Tax Return (ITR) forms for the assessment year 2017-18.

2. People with Income above 30 lakhs rupees will have to disclose their costly assets.

3. The norms were imposed from 1st April 2016.

4. The startups will get 100 per cent tax exemption for three years.

 Which of the above statements are correct?

 

 

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