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of <h1>Section 185: Declare Undisclosed Income and Face Penalties; Additional 25% Tax on Top of Section 184 Surcharge.</h1> Section 185 of the Income Declaration Scheme, 2016, under the Finance Act, 2016, mandates that individuals declaring undisclosed income are subject to a penalty. This penalty is in addition to the tax and surcharge stipulated under section 184 and is calculated at a rate of twenty-five percent of the tax amount. This provision applies notwithstanding any other stipulations in the Income-tax Act or any other Finance Act.
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