Investments

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Nancy ji,

If in future scutiny arises that time the assessee will have to pay tax on undisclosed income and may face some problems that time. Ttarget='_blank' rel='nofollow' hrefore it is advisable to pay LIC from disclosed income

It is in interest of the Assessee to disclose all the Income that he has received during the year otherwise in the year of Scrutiny it will be treated as Undisclosed Income and then Interest and/or penalty will be levied on the Assessee.