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of <h1>Tax Searches Reveal Sliding Scale of Penalties: 10-60% Based on Income Disclosure and Cooperation with Authorities</h1> A legal provision detailing penalty rates for undisclosed income discovered during tax searches. For searches between July 2012 and December 2016, penalties range from 10% to 60% based on the assessee's disclosure and cooperation. For searches after December 2016, penalties are 30% or 60%. The penalty depends on whether the assessee admits undisclosed income during the search, pays taxes, and furnishes accurate returns. No additional penalties under other sections can be imposed for the same undisclosed income.
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