https://www.taxtmi.com/acts?id=47097 An application for voluntary disclosure is permitted only where the assessee has furnished the required return and the additional amount of income-tax on the disclosed income exceeds a specified threshold. For disclosures relating to a single year, tax is computed as if the disclosed income were total income where no return was filed; as tax on the aggregate of returned total income and disclosed income where a return was filed; and as tax on the aggregate of the earlier assessed total income and disclosed income where reassessment proceedings are pending and no return was filed during those proceedings, with additional tax determined by reducing tax on the aggregate by tax already computed. en-us Tue, 07 Jan 2025 12:58:23 +0530 Tue, 07 Jan 2025 12:58:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47097 An application for voluntary disclosure is permitted only where the assessee has furnished the required return and the additional amount of income-tax on the disclosed income exceeds a specified threshold. For disclosures relating to a single year, tax is computed as if the disclosed income were total income where no return was filed; as tax on the aggregate of returned total income and disclosed income where a return was filed; and as tax on the aggregate of the earlier assessed total income and disclosed income where reassessment proceedings are pending and no return was filed during those proceedings, with additional tax determined by reducing tax on the aggregate by tax already computed. Act-Rules F. Acts / Amendment Acts Tue, 07 Jan 2025 12:58:23 +0530 https://www.taxtmi.com/acts?id=47097