Voluntary disclosure tax imposes flat-rate tax on undeclared income, with exclusions for prior notices, searches or surveys. The Scheme charges declared undisclosed income as voluntarily disclosed income where declarations cover income for assessment years with no return furnished, income omitted from prior returns, or income that escaped assessment through omission or nondisclosure; the tax is imposed at prescribed flat rates differing by declarant category. Exclusions apply where an assessment notice had been served before the Scheme commenced and the return remained unfiled, and for years in which a search, requisition or survey under the investigation provisions was conducted or for earlier years.
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.
Voluntary disclosure tax imposes flat-rate tax on undeclared income, with exclusions for prior notices, searches or surveys.
The Scheme charges declared undisclosed income as voluntarily disclosed income where declarations cover income for assessment years with no return furnished, income omitted from prior returns, or income that escaped assessment through omission or nondisclosure; the tax is imposed at prescribed flat rates differing by declarant category. Exclusions apply where an assessment notice had been served before the Scheme commenced and the return remained unfiled, and for years in which a search, requisition or survey under the investigation provisions was conducted or for earlier years.
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