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4. DECLARATION OF UNDISCLOSED INCOME The declaration of undisclosed income shall be in the form given in the annex to the Scheme and shall be submitted by 15th day of June 2000. Encl As above Ali Husnain Secretary IT-judicial Annexure FORM OF DECLARATION OF UNDISCLOSED INCOME 1. 14. FORM OF DECLARATION OF UNDISCLOSED INCOME as per annexure and shall be verified in the manner and accompanied by the documents as specified in the Scheme. 5. PAYMENT ...

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What is declaration of undisclosed income?

Declaration of undisclosed income is a formal statement made by an individual or entity to confess and disclose any income that has not been previously reported to the appropriate tax authority.

Who is required to file declaration of undisclosed income?

Any individual or entity who has undisclosed income and wants to come clean with the tax authorities is required to file a declaration of undisclosed income.

How to fill out declaration of undisclosed income?

To fill out a declaration of undisclosed income, one needs to provide accurate details about the undisclosed income, such as the sources, amounts, and relevant documentation. It is recommended to seek professional assistance or refer to the specific guidelines provided by the tax authority for the proper procedure.

What is the purpose of declaration of undisclosed income?

The purpose of a declaration of undisclosed income is to allow individuals or entities to voluntarily disclose any previously unreported income and pay the necessary taxes, penalties, and interest. It provides an opportunity for taxpayers to rectify their non-compliance and avoid potential legal consequences.

What information must be reported on declaration of undisclosed income?

The declaration of undisclosed income must include details such as the sources of undisclosed income, the amounts involved, any relevant supporting documents, and any other information required by the tax authority for accurate assessment and verification.

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