Past untaxed profits

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If resident  individual  had income of Rs 300000 in the year 2006-07 but he has not disclosed the income .It was detected  in the previous year 2009-10.In this case ,it will be considered to be income of the year 2006-07 ,so slab rate of 2006-07 will be applied .

Am i right ?

Replies (3)

I think yes

As per sec 68,69(a,b,c)

" may be charged to income-tax as the income of the assessee of that previous year "

the slab rates of 2006-07 should apply

Sry sir. I feel that this is undisclosed income and not past untaxed profits.
Sry sir. I feel that this is undisclosed income and not past untaxed profits.


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