The Income Declaration Scheme, 2016 - Undisclosed Income Invested in Acquisition of such Capital Asset

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Full Text of the Document

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.... Income-tax Sub.: The Income Declaration Scheme, 2016 - reg. Instances have been brought to the notice of the Board that some taxpayers are of the view that if a capital asset acquired out of undisclosed income is sold before 01.06.2016 and the sale proceeds so received are held in cash, then the amount of undisclosed income required to be declared under the Scheme shall be the amount of undiscl....