113 Tax in the case of block assessment of search cases | Knowledge Bank

CHAPTER XII

DETERMINATION OF TAX IN CERTAIN SPECIAL CASES

Tax in the case of block assessment of search cases.

113. The total ¹^.undisclosed ³[undisclosed] income of the block period, determined under section 158BC, shall be chargeable to tax at the rate of sixty per cent:

Provided that the tax chargeable under this section shall be increased by a surcharge, if any, levied by any Central Act ^2.and applicable in the assessment year relevant to the previous year in which the search is initiated under section 132 or the requisition is made under section 132A.

1. Omitted by theFinance Bill 2024 dated 07.08.2024 w.e.f 23.07.2024

2 Omitted by theFinance Bill 2024 dated 07.08.2024 w.e.f 23.07.2024

3 Inserted by The Finance Act, 2025 dated 29.03.2025 w.e.f 01.09.2025

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