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of <h1>Clause 190: Declarations with Misrepresentation in the Income Declaration Scheme 2016 are Void and Unrecognized.</h1> Clause 190 of the Income Declaration Scheme, 2016, states that any declaration made through misrepresentation or suppression of facts is void and considered never made. The Scheme, effective from June 1, 2016, allows individuals to declare undisclosed income, subject to a 30% tax, a 25% surcharge as Krishi Kalyan Cess, and a 25% penalty. It outlines procedures for filing declarations, ensures declared income is not included in total income or affects completed assessments, and provides exemptions from wealth tax for specified assets. The Central Government and the Central Board of Direct Taxes are empowered to address difficulties and establish rules.
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