Window for declaring undisclosed income opens
The four-month disclosure window for domestic taxpayers to declare undisclosed income or assets opened on Wednesday. The move, announced in the Budget, would allow taxpayers to clear past tax transgressions by paying 30% tax, a 7.5% surcharge and a 7.5% penalty – a total of 45% of the undisclosed income. The deadline to pay the due amount is November 30.