Undisclosed income exclusion: declared amounts under the declaration scheme are excluded from a taxpayer's total taxable income. Amounts of undisclosed income declared under the specified declaration procedure are expressly excluded from the declarant's total income and shall not be included in computing total income for any assessment year under the applicable taxation scheme.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Undisclosed income exclusion: declared amounts under the declaration scheme are excluded from a taxpayer's total taxable income.
Amounts of undisclosed income declared under the specified declaration procedure are expressly excluded from the declarant's total income and shall not be included in computing total income for any assessment year under the applicable taxation scheme.
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