Section 115BBE - Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section 69D.

Section 115BBE imposes 60% tax rate on unexplained income with no deductions or allowances permitted

Section 115BBE of the Income Tax Act, 1961 prescribes special tax rates for unexplained income under sections 68, 69, 69A, 69B, 69C, and 69D. Such income attracts tax at 60% rate, whether declared in return or determined by assessing officer. Regular tax rates apply to remaining income after excluding these amounts. No deductions, allowances, or loss set-offs are permitted while computing this unexplained income. The provision ensures higher tax burden on undisclosed or suspicious income sources to deter tax evasion and promote compliance.