https://www.taxtmi.com/acts?id=45941 Voluntary disclosure allows a person to declare past taxable income to the Commissioner with specified particulars; such voluntarily disclosed income is taxed at prescribed schedule rates with certain deeming rules. The Commissioner may, after hearing, exclude amounts already detected by tax authorities; objections to that exclusion may be made to the Board whose decision is final. The Income-tax Officer issues demand and collection procedures apply with conditions for instalments and security. Tax paid is non refundable, the declaration is confidential and inadmissible in prosecution or penalty proceedings as to detected amounts. en-us Thu, 05 Dec 2024 16:56:09 +0530 Thu, 05 Dec 2024 16:56:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45941 Voluntary disclosure allows a person to declare past taxable income to the Commissioner with specified particulars; such voluntarily disclosed income is taxed at prescribed schedule rates with certain deeming rules. The Commissioner may, after hearing, exclude amounts already detected by tax authorities; objections to that exclusion may be made to the Board whose decision is final. The Income-tax Officer issues demand and collection procedures apply with conditions for instalments and security. Tax paid is non refundable, the declaration is confidential and inadmissible in prosecution or penalty proceedings as to detected amounts. Act-Rules F. Acts / Amendment Acts Thu, 05 Dec 2024 16:56:09 +0530 https://www.taxtmi.com/acts?id=45941