Income Declaration Scheme 2016 excludes corruption-linked income; misrepresentation void under Finance Act section 193.
The Income Declaration Scheme, 2016, as outlined in section 196(b) of the Finance Act, 2016, does not permit the declaration of undisclosed income derived from money earned through corruption, as it is not applicable to offenses under the Prevention of Corruption Act, 1988. If such a declaration is made, it would be considered a misrepresentation and rendered void under section 193 of the Finance Act, 2016. Consequently, the provisions of the Income-tax Act would apply to such income as they do to any other undisclosed income.
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