Section 115BBE of Income tax Act after Taxation Law Amendment Act 2016 115BBE. of Income Tax Act after Taxation Laws (Second Amendment) Act, 2016 received the Assent of President on 15.12.2016 [ Note-1 ] [Tax on income referred to in section 68 or section 69 or section 69A or section 69B or section 69C or section… Read More »
Taxation Laws (Second Amendment) Bill, 2016 introduced in Lok Sabha; A scheme namely, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016’ (PMGKY) proposed in the Bill. Evasion of taxes deprives the nation of critical resources which could enable the Government to undertake anti-poverty and development programmes. It also puts a disproportionate burden… Read More »
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 »