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of <h1>Clause 183: Declare Undisclosed Income Under 2016 Scheme with 30% Tax, 25% Surcharge, and 25% Penalty.</h1> Clause 183 of the Income Declaration Scheme, 2016, outlines the process for declaring undisclosed income. Declarations must be submitted to the Principal Commissioner or Commissioner in a prescribed form. The declaration must be signed by the individual or an authorized representative, depending on the entity type, such as individuals, Hindu undivided families, companies, firms, or associations. Once a declaration is made, no further declarations can be submitted for the same income. The scheme, effective from June 1, 2016, imposes a 30% tax, a 25% surcharge as Krishi Kalyan Cess, and a 25% penalty on declared income, with specific exemptions and procedural guidelines.
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