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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Undeclared Income Holders Can Invest in National Defence Gold Bonds Tax-Free, Ensuring Confidentiality and Voluntary Disclosure</h1> The statutory provision allows individuals with undisclosed income to invest in National Defence Gold Bonds, 1980 without tax liability. If gold from undeclared income is tendered as bond subscription before detection, the income will not be taxed. The provision ensures confidentiality of bond subscribers, prohibiting courts and public servants from disclosing personal details except to specific authorized tax or audit officials. The law provides a mechanism for voluntary disclosure and tax exemption for undeclared assets invested in national defense bonds.
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