Settlement Commission application thresholds tightened, requiring higher minimum tax disclosure and payment with proof before filing for settlement.

The amendment restricts applications to the Settlement Commission by raising the minimum additional income-tax payable for admissibility: a higher threshold applies where assessment or reassessment follows a search or requisition under section 132/132A, and a lower threshold applies in other cases; in all cases the tax and interest due on the disclosed income must be paid before filing and proof of payment attached.

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