<h1>Undisclosed income declarants face 30% tax, 33% cess, 10% penalty and 25% deposit under PMGKY.</h1> The Bill substitutes section 115BBE to tax income falling under sections 68-69D at a high rate with remaining tax computed on reduced total income; strengthens search-related penalty section 271AAB by adding 30% and 60% penalty bands depending on admission and compliance; inserts section 271AAC imposing a 10% penalty on tax computed under clause (i) of section 115BBE for determined unexplained incomes (with limited exceptions); and establishes PMGKY allowing voluntary declarations with 30% tax, 33% cess, 10% penalty and a 25% deposit into a non interest deposit scheme, subject to exclusions and procedural conditions.