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News
Income Declaration Scheme
Income Declaration Scheme News
black money
07 Sep 2017
Black money: 21,000 people disclose Rs 4,900 crore under new income declaration scheme
The scheme was launched in December last year by the government to enable people with black money to come clean by paying tax and penalty of 50 percent.
Income Declaration Scheme
17 Mar 2017
Govt expects to raise Rs 2,82,212 crore from cess in 2017-18
An estimated Rs 2,82,212 crore revenue will be generated through cess and surcharge in 2017-18, Finance Minister Arun Jaitley said Friday.
black money
21 Dec 2016
Black money: IDS disclosure figures to be revised lower to Rs 55,000 crore
Government is likely to revise downwards the disclosures made under the black money amnesty scheme to about Rs 55,000 crore as one Hyderabad-based realtor and his associates have defaulted on tax payments after declaring more than Rs 10,000 crore unaccounted income.
Business News 2016
16 Dec 2016
Black money crackdown: Rs 65,250 crore mopped up via Income disclosure scheme (IDS)
Income declaration scheme (IDS), 2016 was a scheme introduced by Narendra Modi led government to unearth black money and bring it back into the system.
Income Declaration Scheme
05 Dec 2016
I-T department rejects declaration of Rs 2,00,000 crore made under IDS by Mumbai family
The Income Tax department has rejected declaration of Rs 2,00,000 crore made under IDS made by a family of four from Mumbai
IDS
04 Dec 2016
IDS gets Rs 67,382 crore, over Rs 2,000 crore higher than estimate realised
The figure of black money disclosed under Income Declaration Scheme (IDS) was revised to Rs 67,382 crore by the Finance Ministry on Sunday. This is Rs 2,000 crore highe than the earlier number.
black money
02 Dec 2016
Gujarat businessman declares highest ever black money amount – Rs 13,000 crore!
This has to be the mother of all black money declaration – a Gujarat businessman has reportedly declared a whopping sum of Rs 13,000 crore as black money or illicit wealth to the Income Tax Authorities.
Income Tax
21 Nov 2016
Demonetisation: Tax and penalty you pay on misreported income
Arun Jaitley
18 Nov 2016
Black money: IDS 'major success', will yield Rs 29,362 cr in taxes, says Arun Jaitley
Describing domestic black money declaration scheme IDS as a "major success", Finance Minister Arun Jaitley Friday said it will yield Rs 29,362 crore in taxes, which is three times the amount garnered by the then government in 1997 amnesty scheme, VDIS.
Jaganmohan Reddy
13 Oct 2016
Jaganmohan Reddy urges PM to make Income Declaration Scheme list public
YSR Congress Party chief Y.S. Jaganmohan Reddy on Thursday urged Prime Minister Narendra Modi to make public the list of individuals who declared their undisclosed income under Income Declaration Scheme 2016.
black money
03 Oct 2016
Black money disclosure: Identity of individuals strictly confidential, says CBDT
Income Tax Department Monday said "strict confidentiality" will be maintained about the identity of persons who have disclosed black money during the 4-month window under the Income Declaration Scheme (IDS).
Income Declaration Scheme
03 Oct 2016
Rs 14,700 crore in government coffers from IDS this fiscal: Nomura
Income declaration scheme (IDS) 2016 provided an opportunity for people to disclose their hitherto undisclosed domestic income and assets. The window was open from June 1 to September 30, 2016. A declarant had to pay a tax of 45 percent on the undisclosed income.
black money
02 Oct 2016
Black money disclosure scheme: CAG may audit Rs 65,250 crore, not individual declarations
As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations through the one-time four-month compliance window provided under the Income Disclosure Scheme (IDS) that ended on September 30.
IDS
30 Sep 2016
'Rush' of blackmoney declarants on last day; I-T dept enthused
The "rush" of black money declarants, under the one-time compliance window, peaked across various Income Tax department offices on the last day Friday with the CBDT indicating the collections to be "very good" and may touch an estimated Rs 40,000-Rs 50,000 crore.
CBDT
15 Sep 2016
Income Declaration Scheme: I-T offices to remain open till midnight on Sept 30
The taxman will undertake a midnight vigil on September 30 as CBDT has directed the Income Tax department to keep their offices country-wide open in order to receive declarations under the domestic black money window - the Income Declaration Scheme (IDS).
CBDT
15 Sep 2016
Income Declaration Scheme: I-T offices to remain open till midnight on Sep 30
The taxman will undertake a midnight vigil on September 30 as CBDT has directed the Income Tax department to keep their country-wide offices open in order to receive declarations under the domestic black money window - the Income Declaration Scheme (IDS).
Central Board of Direct Taxes
09 Sep 2016
Govt extends return filing date for large taxpayers to Oct 17
Revenue Department has extended the date to October 17 for filing of tax returns by assesses who are required to submit audited accounts in view of the ongoing income declaration scheme (IDS-2016).
CBDT
18 Aug 2016
Blackmoney disclosure:I-T dept not to question valuer's report
The valuation report from a registered valuer will not be questioned by the income tax department for disclosures made under the domestic black money compliance scheme, the CBDT clarified on Thursday.
Arun Jaitley
23 Jul 2016
Govt aims to make India ''tax paying, not tax evading'' society: Arun Jaitley
Union Finance Minister Arun Jaitley on Saturday said the government`s policy with regard to direct taxation is very clear, adding the ruling dispensation aims to gradually nudge the system to make India a tax paying society and not a tax evading society.
CBDT
18 Jul 2016
CBDT prepares 9 lakh special cases; to confront taxpayers
The CBDT on Monday cautioned lurking stash holders saying it has prepared a database of about "nine lakh pieces" of instances of high-value transactions and it will soon "confront" them with this information as part of its exercise to ensure timely declarations under the ongoing one-time black money window.
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