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69A undisclosed credit

shailendra Singh (shailu)   05 March 2021

shailendra Singh (shailu)

 2 likes  33 points

| My Other Post
is there is any provision of estimation at 8 percent or 10 percent when the credit entry in the bank account of assessee remained undisclosed?
ajeet singh

ajeet singh   05 March 2021

ajeet singh

 36 likes  1193 points

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No , at the time of assessment it will be covered u/s 69 and willbe taxed as per 115bbj special rate and penalty is alao attractable under section 270A upto 100 of tax evaded

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