TMI BlogNotes on clauses-Income Declaration schemeX X X X Extracts X X X X X X X X Extracts X X X X ..... f June, 2016 till a date to be notified by the Central Government in the Official Gazette. The proposed Chapter, inter alia, provides for levying a tax of thirty per cent. on the undisclosed income declared in the scheme, a surcharge at the rate of twenty-five per cent. of such tax as Krishi Kalyan Cess; and penalty at the rate of twenty-five per cent. of tax; procedure and manner of filing the de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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