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INCOME DECLARATION SCHEME
Gujaratis declared Rs 18,000 crore of unaccounted money in 4 months under IDSIn a reply to an RTI query, the Income-Tax (I-T) department stated that over Rs 18,000 crore was declared in Gujarat under IDS from June 20...- Search operations no bar under PMGKYCBDT also clarifies that deposits made in bank accounts prior to the financial year 201617 can also be declared under the scheme, besides a...
- Govt likely to meet current fiscal deficit target: DBSGovt is expected to meet the fiscal deficit target of 3.5 per cent of GDP in the current financial year, despite demonetisation and potenti...
- Listing of PSU subsidiaries in Financial Year 2018 disinvestment planFinance and oil ministry officials met last week to look at various disinvestment options for state-run companies, said a govt official pri...
- Mop-up target under New Tax Amendment Law very ambitious: Ketan Dalal, PwC IndiaThe current scheme is for cash deposited whereas the other one is not just for cash but also includes unexplained jewellery, he says
- IDS 'major success' vis-a-vis VDIS: Finance Minister Arun Jaitley"In view of the above (comparative data), it can be inferred that IDS, 2016 has been a major success vis-a-vis VDIS, 1997," he said.
- Be ready to pay 50-70% tax on black money deposited in banksThis rate would only be applicable for large cash deposits in bank accounts or huge expenses incurred in cash since November 8, when old cu...
- Grey areas people are exploiting to justify unaccounted cash as legal incomeTax professionals are charging 5% to 25% to suggest strategies that can convert unaccounted cash into legitimate money. Here are some of th...
- Anti-blackmoney operations to be intensifiedThe case that recently took place in Kolkata has stunned authorities of the I-T investigations wing after the said business entity produced...
- The success of Income Declaration Scheme offers valuable lessonsIndeed, the final outcome of the declarations was significantly in excess of the initial estimates and was a result of sustained campaign i...
- IDS: Final black money tally may go up by Rs 10,000 croreRani Singh Nair today held a meeting with the regional I-T department chiefs where, sources said, the strategy and progress of the last mil...
- Rs 14,700 crore in government coffers from IDS this fiscal: NomuraIncome declaration scheme (IDS) 2016 provided an opportunity for people to disclose their hitherto undisclosed domestic income and assets.
- Black money info won't be shared even with CAG: Arun JaitleyThe finance ministry and CAG had a major tiff in 1998-99 over sharing of information related to the Voluntary Disclosure of Income Scheme, ...
- Black money haul: Rs 65,250 crore disclosed through Income Declaration SchemeA total of 64,275 disclosures were made from which Rs 65,250 crore was declared under Income Declaration Scheme.
- Response to the Income Declaration Scheme has improvedThe government has seen an improvement in response to the IDS in the last few weeks even as top sources sought to play down concerns of the...
- No extension in deadline for black money disclosure schemeUnder the IDS, people can disclose their undeclared income and escape prosecution. The scheme, closes on September 30.
- Income Tax department expect income declaration scheme picking up next monthThe scheme, however, is getting a good response in places like Thane and Pune as professionals like doctors, builders, advocates and even t...
- Lens on cash deposits, property deals: Income-tax office to issue 7 lakh noticesThe move is believed to be aimed at nudging individuals as well as businesses to declare hidden income and assets under the Income Declarat...
- Sizable dip in Indian black money parked abroad: Finance Minister Arun JaitleyJaitley said that the action being initiated by G-20 countries coupled with "technological intervention" will make it difficult to keep bla...
- Smart things to know about Income Declaration Scheme 2016Income Declaration Scheme 2016 is an opportunity for those who didn’t disclose income or pay taxes thereon in the past.
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