Tax in the case of block assessment of search cases [ Section 113 ] - Income Tax - Ready Reckoner - Income Tax

Tax in the case of block assessment of search cases [ Section 113 ] The total # [undisclosed] income of the block period, determined under section 158BC , shall be chargeable to tax at the rate of sixty per cent: Provided that the tax chargeable under this section shall be increased by a surcharge, if any, levied by any Central Act and applicable in the assessment year relevant to the previous year in which the search is initiated under section 132 or the requisition is made under section 132A . [ omitted w.e.f. 01.09.2024 vide Finance (No. 2) Act, 2024 ] Note:- # It is Omitted vide Section 32 of the Finance (No. 2) Act, 2024 w.e.f. 01.09.2024, but it is again Inserted vide Section 23 of the Finance Act, 2025 and shall be deemed to have been inserted with effect from the 1st day of September, 2024.