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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.... September, 2016 To, All The Principal Chief Commissioners of 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 ....