https://www.taxtmi.com/forum/issue?id=110612 Undisclosed income or assets discovered after the IDS commencement but relating to prior periods are treated as deemed income of the assessment year in which an income tax notice is issued; if declared under IDS or in the return for that assessment year, standard interest and certain penalty provisions ordinarily invoked for omissions should not apply because the scheme provides a separate disclosure and penalty mechanism. en-us Wed, 06 Jul 2016 11:51:18 +0530 Thu, 23 Jan 2025 15:56:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110612 Undisclosed income or assets discovered after the IDS commencement but relating to prior periods are treated as deemed income of the assessment year in which an income tax notice is issued; if declared under IDS or in the return for that assessment year, standard interest and certain penalty provisions ordinarily invoked for omissions should not apply because the scheme provides a separate disclosure and penalty mechanism. Discussion-Forum Income Tax Wed, 06 Jul 2016 11:51:18 +0530 https://www.taxtmi.com/forum/issue?id=110612