Includes Appendix.

This 11th edition, authored by Taxmann's Editorial Board, provides a comprehensive analysis of the taxability of undisclosed income, gifts, and cash credits, incorporating the latest amendments introduced by the Finance Act 2022. The book delves into the complexities of tax implications arising from various sources, including undisclosed income under the Income Tax Act and the Black Money Act, and examines the taxability of gifts received in various forms, such as money, immovable property, and specified movable property (like jewelry, shares, and virtual digital assets). It features insightful analyses of relevant case laws, particularly on the taxability of cashback, loan waivers, freebies, awards, and family settlements. Additionally, the book includes valuable ready reckoners that assist readers in understanding the legal consequences of investments based on the source and nature of income and the mode of investment. Furthermore, it provides a detailed analysis of shell companies, including the applicability of Section 68 and the Benami Act in such scenarios. This book serves as a valuable resource for tax professionals, individuals, and businesses seeking to navigate the intricate landscape of tax laws related to loans, gifts, and cash credits.