Tax implications on cash deposits and how penalty can be imposed

SATISH MANGAL , Last updated: 15 November 2016  
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Under present legal scenario, where a person deposit his / her cash in bank and declare voluntarily such amount as income in his / her return and he / she is not able to explain source of such amount (can be termed as black money), in such a case, neither penalty @ 50% nor 200% be imposed because of

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SATISH MANGAL
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Category Income Tax   Report

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