What is Tax in the case of block assessment of search cases? What is the meaning of Chapter not to apply if the assessee so chooses? Section 113 and 115 i of Income Tax Act 1961

Tax in the case of block assessment of search cases and Chapter not to apply if the assessee so chooses are defined under sections 113 and 115 i of Income Tax Act 1961. Provisions under these Sections are :

Section 113 of Income Tax Act "Tax in the case of block assessment of search cases"

Section 113. The total 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 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.

 

Section 115 I of Income Tax Act "Chapter not to apply if the assessee so chooses"

Section 115-I. A non-resident Indian may elect not to be governed by the provisions of this Chapter for any assessment year by furnishing his return of income for that assessment year under section 139 declaring therein that the provisions of this Chapter shall not apply to him for that assessment year and if he does so, the provisions of this Chapter shall not apply to him for that assessment year and his total income for that assessment year shall be computed and tax on such total income shall be charged in accordance with the other provisions of this Act.

 

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