Black money holders have the option to file declarations electronically
Posted on: 05/Sep/2016 11:38:32 AM
The income tax department has now given the declarants under the Income Disclosure Scheme (IDS) the option to file declarations electronically under digital signature with the Commissioner of Income Tax, CPC, Bengaluru.
The Income Declaration Scheme (IDS) which opened on June 1 gives a chance to black money holders to come clean by declaring the assets by September 30 and paying tax and penalty of 45 percent on it.
The scheme will apply to undisclosed income whether in the form of investment in assets or otherwise, pertaining to financial year 2015-16 or earlier.
