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Section 197 (c) of Finance Act 2016

Income Tax - Started By: - VIJAY GOYAL - Dated:- 6-7-2016 Last Replied Date:- 6-7-2016 - 197 (c) of Finance Act 2016. This section says that after the end of IDS 2016 if undiscosed income/asset relating to period prior to commencement of IDS is found it would be taxed as deemed income of the year in which notice u/s 143 (2)/ 142 (1)/ 148/ 153A or 153C is issued. It means if search takes place on 1/10/2016 and UDI for AY 2009-10 AY 2010-11 AY 2011-12 is found and notice u/s 153A is issued on 1/1/ .....

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