undisclosed income

undisclosed income found during search/survey to be distributed to members of the family running the business 2 min read

• Income Tax

undisclosed income found during search/survey to be distributed to members of the family running the business

Sourav 8 years ago

Section 132 of the Income Tax: It is but natural that the undisclosed income found during search/survey has to be distributed to all the members... Read More

Share application money cannot be considered as undisclosed income if identity of the share applicants is available 3 min read

• Income Tax

Share application money cannot be considered as undisclosed income if identity of the share applicants is available

Manager 8 years ago

The Hon’ble Delhi High Court on 12.8.15 in the cases of Commissioner of Income Tax – 9 (Appellant) vs. Vrindavan Farms (P) Ltd. (Respondent) being... Read More

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour 3 min read

• Income Tax

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour

Sourav 8 years ago

If you have got any credit in Bank account, that may not necessarily be an explained income. In some cases even if the assessee has... Read More

Section 115BBE and 68: Taxation of unexplained income 2 min read

• Income Tax

Section 115BBE and 68: Taxation of unexplained income

Sourav 8 years ago

Here in this blog, we try to highlight the unrecognized Section 115BBE of the Income-tax Act, which was applicable from the assessment year 2013-14. Unexplained investment,... Read More

Assessment of Undisclosed Income in Income Tax Act u/s 133A 2 min read

• Income Tax

Assessment of Undisclosed Income in Income Tax Act u/s 133A

Sourav 8 years ago

This arrangement is similar to VDS (Voluntary Disclosure Scheme). This scheme is effective from 1st June 2016. Declaration of undisclosed income or assets could be... Read More