The latest Income-tax Amnesty Scheme extended till 31-3-1987 applies to the concealed or undeclared income of the past 16 years up to the assessment year (A. Y.) 1985-86 and also the A. Y. 1986-87 and grants complete immunity from penalty and prosecution to the tax payers, old as well as new for voluntary declaration of their undeclared or concealed income and payment of income-tax on the income so declared. Thus, for any of the assessment years from 1970-71 to 1985-86 (total 16 years) a tax payer can voluntarily disclose his undeclared income and get complete immunity from all penal consequences. For the purpose of making a voluntary declaration of undeclared income for the last 8 years from the A. Y. 1978-79 to the A. Y. 1985-86, there is no restriction about the minimum income to be so disclosed. However, for the purpose of making a voluntary declaration of underclared income for any assessment year going beyond 8 years and up to 16 years i.e. from the assessment year 1970-71 to ....