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 Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clarifications on Voluntary Disclosure of Income Scheme 1997: Wealth Tax, Section 133A Surveys, Section 132 Searches, and Penalty Immunity.</h1> The circular provides clarifications on the Voluntary Disclosure of Income Scheme, 1997, addressing various questions. It states that no wealth-tax is payable for undisclosed assets up to the assessment year 1997-98, but applicable for 1998-99 onwards. Surveys under section 133A and searches under section 132 restrict disclosure for the respective and prior years. Evidence for jewellery purchases should be provided. Tax deducted at source cannot adjust the payable tax on disclosed income, except for specific exceptions. Multiple declarations are not allowed, and immunity from penalties extends beyond section 271(1)(c). The circular also covers disclosure eligibility under various scenarios, including previous assessments, search operations, and benami transactions.
TaxTMI 
TaxTMI 
