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INTERVIEW QUESTIONS TAX INCOME DECLARATION SCHEME - 2016 DETAILS

Question: Where a search/ survey operation was conducted and a notice has not been issued, can Such undisclosed income be declared under Income Declaration Scheme (IDS) 2016?

Answer: Yes, such undisclosed income can be declared under the Scheme.

Category Income Declaration Scheme - 2016 Interview Questions & Answers - Exam Mode / Learning Mode
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Question: Where a search/ survey operation was conducted and a notice has not been issued, can Such undisclosed income be declared under Income Declaration Scheme (IDS) 2016?

Answer:

Yes, such undisclosed income can be declared under the Scheme. Source: CoolInterview.com



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Related Questions
View Answer
Can a person against whom a search/ survey operation has been initiated file declaration under the Scheme?
View Answer
Can a declaration be made of undisclosed income which has been assessed to tax and the case is pending before an Appellate Authority?
View Answer
In a case where the undisclosed income is represented in the form of investment in asset and such asset is partly from income that has been assessed to tax earlier, then what shall be the method of computation of undisclosed income represented by such undisclosed asset for the purposes of the Scheme?
View Answer
As per the Scheme, declaration cannot be made where an undisclosed asset has been acquired during any previous year relevant to an assessment year for which a notice under section 142, 143(2), 148, 153A or 153C of the Income-tax Act has been issued. If the notice has been issued but not served on the declarant then how will he come to know whether the notice has been issued?
View Answer
Where a notice under section 142(1)/ 143(2)/ 148/ 153A/ 153C of the Income-tax Act has been issued to a person for an assessment year will he be ineligible from making a declaration under the Scheme?
View Answer
Where an undisclosed income in the form of investment in asset is declared under the Scheme and tax, surcharge and penalty is paid on the fair market value of the asset as on 01.06.2016, then will the declarant be liable for capital gains on sale of such asset in the future? If yes, then how will the capital gains in such case be computed?​​
View Answer
What is Income Declaration Scheme 2016? What are its main features?
View Answer

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