TaxTMI Login
🎉 Festive Offer: Flat 15% off on all plans! →⚡ Don’t Miss Out: Limited-Time Offer →
TaxTMI 
Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Tax Rule: Section 79A Bars Offsetting Losses Against Undisclosed Income Found in Searches from April 2022 Onward.</h1> Section 79A of the Income Tax Act is introduced to prevent the set-off of losses or unabsorbed depreciation against undisclosed income identified during searches, requisitions, or surveys. Undisclosed income includes income not recorded or disclosed before the search or income from false entries in financial records. This provision applies from April 1, 2022, affecting the assessment year 2022-2023 onward. The section ensures that any income discovered through investigative actions cannot be offset by prior losses, reinforcing tax compliance and accountability.
TaxTMI 
