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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.- CAG may audit IDS, not individual declarationsThe official said no adverse action shall be taken by the Financial Intelligence Unit or the Income-Tax department solely on the basis of t...
- Tax authorities' amnesty schemes have failed miserablyAmnesty schemes have long been a favoured tool for tax authorities to recover dues - since independence - but have flopped miserably.
- Will Budget 2016 amnesty scheme for tax evaders work?At 45%, the proposed tax rate is too high to goad people into declaring their undisclosed income.
- Budget 2016: Government unveils new scheme for black money hoardersAs per the scheme, anyone who is non-compliant can come clean by paying tax at 30%, a surcharge of 7.5% plus penalty of 7.5%, taking it to ...
- Budget 2016: Compliance window is neither VDIS nor amnesty says Arun Jaitley"So you are paying penalties for not paying tax on time. This is intending to bring some money from outside the system to into the system,"...
- Poor response to black money amnesty so farThe compliance scheme to mop up black money stashed abroad before a tough law kicks in from April has got off to a slow start, netting only...
- One-time short window for declaring assets abroad: Revenue Secretary Shaktikanta DasDas was elaborating upon FM Arun Jaitley's budget proposal to come out with a stringent law to deal with the black money stashed abroad.
- No proposal to bring blackmoney amnesty scheme: Government"There is no proposal to bring general amnesty scheme for declaring the undeclared income," Arun Jaitley said in written reply in Lok Sabha.
- 'Float scheme to get back $2 trillion of black money stashed abroad'The amnesty scheme is a "practical and pragmatic" approach to bring back the black money stashed abroad, R K Handoo said.
- No service tax amnesty offer for next 20 years: P ChidambaramChidambaram today said the government may not be able to announce amnesty programmes such as the Service Tax Voluntary Compliance Encourage...
- Budget 2012: No backdoor Voluntary Disclosure of Income Scheme, says Pranab MukherjeeThere is no "backdroor" Voluntary Disclosure of Income Scheme (VDIS) in the budget, Finance Minister Pranab Mukherjee made it clear today.
- Income Tax Act: Taxing unaccounted income not VDIS, says finance secretary RS Gujral"There is no intention of govt to give any sop in form of voluntary disclosure... we are tightening provisions, we are not relaxing provisi...
- Yashwant Sinha opposes amnesty scheme to unearth black moneySinha has said amnesty scheme to unearth black money do not serve any purpose but act as a disincentive to honest taxpayers.
- VDIS scheme on disclosure of blackmoney in the offingA proposal for ushering in a similar scheme was proposed earlier by an expert group on blackmoney to the government.
- Mayawati donors struggle to make ends meet: CBIThe CBI has alleged that Mayawati “camouflaged” various sources of funds to the tune of Rs 13.18 crore by naming over 130 people as “donors...
- Immunity under VDIS not absoluteThe Supreme Court has held that taxpayers cannot claim absolute immunity from disclosing source of income under the Voluntary Disclosure of...
- MoF raises doubts about future amnesty schemesThe law ministry has raised some questions on the viability of future amnesty schemes.
- Corporate tax rate may be cut from 35% to 30% in BudgetThe two months prior to the Budget usually see frenzied speculation about the likely movement in tax rates.
- Amnesty scheme may resurfaceThis Budget may propose yet another amnesty scheme. A debate is currently on among top government officials on the feasibility of introduci...
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