https://www.taxtmi.com/news?id=16319 The CBDT issued additional FAQs on the Income Declaration Scheme, 2016 clarifying confidentiality of declarations, allowability of TDS credit against declared income, the Department's approach to enquiries into sources of income and payment of tax, and the potential initiation of enquiries against third parties. The guidance warns that treating past undisclosed income as current income for a later assessment year may not avoid consequences under the Scheme and can attract prosecution for false verification, while departmental data mining may pinpoint related transactions and years. en-us Fri, 01 Jul 2016 11:16:25 +0530 Fri, 01 Jul 2016 11:16:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16319 The CBDT issued additional FAQs on the Income Declaration Scheme, 2016 clarifying confidentiality of declarations, allowability of TDS credit against declared income, the Department's approach to enquiries into sources of income and payment of tax, and the potential initiation of enquiries against third parties. The guidance warns that treating past undisclosed income as current income for a later assessment year may not avoid consequences under the Scheme and can attract prosecution for false verification, while departmental data mining may pinpoint related transactions and years. News - Fri, 01 Jul 2016 11:16:25 +0530 https://www.taxtmi.com/news?id=16319