Taxation of other income for a.y.13-14

@ 30% who said that !

i have heard many rumours regd this..

The rumours are not wrong.

The Income for which no explained source of income can be shown will attract 30% tax. 

I want a bit more clarification i.e. will the disclosure be required while filing of returns or on scrutinity, because its the general tendency of many marwari to show other income to increase their capital.

Is this policy required to be adopted while preparing their files??

Income has to be correctly reported by all -including any Marwari. 

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In case you declare more income without any supporting evidence, then you may not be in a position to challenge the ITO when he estimates the income at even higher level than reported and make it subject of 30% rate. 

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Unexplained Income & Investments at scrutiny level will attract max. tax rate.

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Thank you sir.