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of <h1>Section 115BBE amended to impose 60% tax rate on unexplained income from April 2017</h1> The Taxation Laws (Second Amendment) Act, 2016 amends section 115BBE of the Income-tax Act, 1961, effective April 1, 2017. The amendment establishes a special tax rate of sixty percent for unexplained income under sections 68, 69, 69A, 69B, 69C, or 69D. This applies whether such income is declared in the return or determined by the Assessing Officer. The total tax liability comprises tax on unexplained income at sixty percent plus tax on remaining income at regular rates.
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