Tag Archives: unexplained income

Taxation of gold & jewellery acquired out of disclosed sources : Govt clarify unfounded & Baseless

By | December 1, 2016

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016, is totally unfounded and baseless. In the wake of Taxation Laws (Second Amendment) Bill, 2016 which has been passed… Read More »

Unaccounted / unexplained income -Section 115BBE Income Tax Applicability

By | November 18, 2016

Unaccounted / unexplained income -Section 115BBE of Income Tax Act – Applicability The provisions of section 115BBE of Income Tax Act (India) are as under: ♦             The Finance Act, 2012 inserted section 115BBE in the Income-Tax Act (‘the Act’) to tax unaccounted money represented by the additions covered by sections 68, 69, 69A, 69B,… Read More »