Undisclosed incomes of sections 68 to 69C are taxed u/s 115BBE @ 60+25+3%
Then penalty for misreporting of income is levied on such undisclosed income u/s 270A @ 200%
Then 271AAB also prescribes penalty of upto 60% on undisclosed incomes
Please advise where my interpretation is incorrect!!
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Undisclosed income
Replies (2)
You just have to live that long to figure that one out!
Wait, Wait, Wait. It's worded on powerpoint!
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