Tax on undisclosed income in block assessments attracts a fixed high rate and applicable surcharge under special law. Irrespective of other provisions, the total undisclosed income of the block period determined under section 294 shall be chargeable to tax at the rate of ... Summary
Tax on undisclosed income in block assessments attracts a fixed high rate and applicable surcharge under special law.
Irrespective of other provisions, the total undisclosed income of the block period determined under section 294 shall be chargeable to tax at the rate of 60 per cent; the tax so chargeable shall be increased by any surcharge levied by any Central Act.
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