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Computation of total undisclosed foreign income and asset.

Section 5 - Acts - BASIS OF CHARGE - Other Direct Tax / Income Tax - Section 5 - 5. (1) In computing the total undisclosed foreign income and asset of any previous year of an assessee,- (i) no deduction in respect of any expenditure or allowance or s .....

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o the assessment year to which this Act applies; or (b) which is assessable or has been assessed to tax for any assessment year under this Act, shall be reduced from the value of the undisclosed asset located outside India, if, the assessee furnishes .....

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case of an immovable property shall be the amount which bears to the value of the asset as on the first day of the financial year in which it comes to the notice of the Assessing Officer, the same proportion as the assessable or assessed foreign inc .....

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to tax in the total income of the previous year 2009-10 and earlier years. Such undisclosed asset comes to the notice of the Assessing Officer in the year 2017-18. If the value of the asset in the year 2017-18 is one crore rupees, the amount chargeab .....

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