Home > Income Tax Act 2025 > Section-104Last Updated: Feb 21st 2025
Section-104 provides for the circumstances or conditions in which any asset owned by or belonging to the assessee shall be deemed as unexplained asset and be included in the total income of the assessee. Learn to understand the section-104 as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
then, the value of such asset, or such excess amount, as the case may be, shall be deemed to be the income of the assessee of the tax year in which such asset has been found to be owned by, or belonging to, the assessee.
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.