https://www.taxtmi.com/acts?id=50315 An assessee may apply to the Settlement Commission to disclose previously undisclosed wealth for settlement; the amendment prescribes calculation of the additional wealth-tax payable: for a single year, tax is computed depending on whether a return was furnished or an assessment made, then reduced by tax already paid to yield the additional amount; for multiple years, the single-year calculations are applied year wise and aggregated; and an application is barred while the assessee's books or documents are seized until the statutory waiting period expires. en-us Thu, 06 Mar 2025 18:23:00 +0530 Thu, 06 Mar 2025 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50315 An assessee may apply to the Settlement Commission to disclose previously undisclosed wealth for settlement; the amendment prescribes calculation of the additional wealth-tax payable: for a single year, tax is computed depending on whether a return was furnished or an assessment made, then reduced by tax already paid to yield the additional amount; for multiple years, the single-year calculations are applied year wise and aggregated; and an application is barred while the assessee's books or documents are seized until the statutory waiting period expires. Act-Rules F. Acts / Amendment Acts Thu, 06 Mar 2025 18:23:00 +0530 https://www.taxtmi.com/acts?id=50315