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🔎 Acts & Rules - Adv. Search ❯
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          Clause 104: Unexplained Assets Counted as Income if Source Not Explained in Income Tax Bill 2025

          In the Income Tax Bill of 2025, Clause 104 addresses unexplained assets. If an asset owned by a taxpayer is not recorded in their financial books or exceeds the recorded amount, and the taxpayer fails to satisfactorily explain the source or nature of the asset, the asset's value or the excess amount is considered as the taxpayer's income for that tax year. This provision applies to various assets, including money, bullion, jewelry, virtual digital assets, or other valuable articles.

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