Charge of tax and surcharge
Section 199D of the Finance Act, 2016 deals with charge of tax and surcharge. Charge of tax and surcharge. 199D. (1) Notwithstanding anything contained in the Income-tax Act or in any Finance Act, the undisclosed income declared under sub-section (1) of section 199C within the time specified therein shall be chargeable to tax at the rate of thirty per cent of the undisclosed The Act was enacted on 27 Jun 2016.
Charge of tax and surcharge.
199D. (1) Notwithstanding anything contained in the Income-tax Act or in any Finance Act, the undisclosed income declared under sub-section (1) of section 199C within the time specified therein shall be chargeable to tax at the rate of thirty per cent of the undisclosed income.
(2) The amount of tax chargeable under sub-section (1) shall be increased by a surcharge, for the purposes of the Union, to be called the Pradhan Mantri Garib Kalyan Cess calculated at the rate of thirty-three per cent of such tax so as to fulfil the commitment of the Government for the welfare of the economically weaker sections of the society.
Section 199D, The Finance Act, 2016.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 199D
What does Section 199D of the Finance Act deal with?
Section 199D of the Finance Act is headed "Charge of tax and surcharge". Charge of tax and surcharge. 199D. (1) Notwithstanding anything contained in the Income-tax Act or in any Finance Act, the undisclosed income declared under sub-section (1) of section 199C within the time specified therein shall be chargeable to tax at the rate of thirty per cent of the undisclosed
How do I find court cases under Section 199D of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2016 199D, section 199D Finance Act 2016, section 199D of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 199D of the Finance Act, and has it changed?
Its own text turns on section 199C (Declaration of undisclosed income), so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it.
When was Section 199D of the Finance Act enacted?
Section 199D of the Finance Act, cited as Finance Act 2016 199D, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.
Other sections of this Act
- Fourth Schedule. Fourth Schedule21791 words
- Eighth Schedule. Eighth Schedule19903 words
- First Schedule. First Schedule8145 words
- 2. Income-tax3742 words
- 222. Insertion of new Chapter III F2100 words
- 70. Substitution of new section for section 1531931 words
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