SECTION 132, READ WITH SECTION 133A OF THE INCOME-TAX ACT, 1961 – SEARCH AND SEIZURE – ENQUIRY OR INVESTIGATION IN RESPECT OF DOCUMENT/EVIDENCE RELATING TO INCOME DECLARATION SCHEME (IDS), 2016 FOUND DURING COURSE OF SEARCH UNDER SECTION 132 OR SURVEY ACTION UNDER SECTION 133A
CIRCULAR NO.32 OF 2016 [F.NO.299/124/2016/IT-INV.III], DATED 1-9-2016
The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) came into effect on 1st June, 2016. To address doubts and concerns raised by the stakeholders, the Board has issued five sets of FAQs vide Circular Nos. 17, 24, 25,27 & 29 of 2016. To allay apprehensions relating to the income/asset declared under the Scheme vis-à-vis search and survey action by the Income-tax Department, the following clarification is issued.
2. It is clarified that wherever in the course of search under section 132 or survey operation under section 133A of Income-tax Act, 1961, any document is found as a proof for having already filed a declaration under the Scheme, including acknowledgement issued by the Income-tax Department for having filed a declaration, no enquiry would be made by the Income-tax Department in respect of sources of undisclosed income or investment in movable or immovable property declared in a valid declaration made in accordance with the provisions of the Scheme.