latest tax rate on unexplained investment

Unexplained cash credit is treated as income in the year in which it is received.

Unexplained cash credits are taxed at flat rate of 60% without providing any benefit of basic exemption limit and irrespective of the tax slab. Surcharge is levied at 25% and a penalty of 6%. The final tax rate comes to 83.25% (including cess).  

No deduction/allowance is allowed and no loss can be set off against such unexplained cash credit which is considered as income.