Undisclosed Income

Tax Glossary Definition

Undisclosed Income

Undisclosed Income – Undisclosed income refers to income that has not been reported in the Income Tax Return (ITR) or books of accounts. Such income is liable to tax along with penalties and interest, as prescribed under Section 270A of the Income Tax Act.

Example: Cash sales of ₹5 lakh not reported in the ITR constitute undisclosed income and attract tax and penalty.

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