Those paying tax from undisclosed income will not be eligible for immunity: CBDT

NEW DELHI: The Central Board of Direct Taxes has said those paying tax from undisclosed income under the new Income Disclosure Scheme will not be eligible for immunity.

It said that the effective rate of tax is 45% and there is no modification in the rate proposed by circular on the scheme issued by the board.

The board has issued a fresh set of frequently asked questions to clarify issues related to the black money scheme that closes on September 30.