Undisclosed income definition expanded to include virtual digital assets, triggering retrospective tax treatment and reporting obligations. Section 158B's clause (b) is amended to insert the term "virtual digital asset" alongside money, bullion and jewellery, thereby expanding the definition ... Summary
Undisclosed income definition expanded to include virtual digital assets, triggering retrospective tax treatment and reporting obligations.
Section 158B's clause (b) is amended to insert the term "virtual digital asset" alongside money, bullion and jewellery, thereby expanding the definition of undisclosed income; the insertion is deemed effective retrospectively from 1st February, 2025.
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