AMENDMENT OF SECTION 271AAB

amendment-of-section-271aab
AMENDMENT OF SECTION 271AAB

As per the existing provisions, where search has been initiated, the general clause of penalty ranges from 30% to 90% of the undisclosed income.

It is proposed to amend the rate of penalty to 60% of such undisclosed income.

These amendments will take effect from the 1st day of April, 2017.

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