‘Declare black money under IDS scheme’

‘Declare black money under IDS scheme’

Palampur September 9

Ajay Kumar Arora, Deputy Commissioner of Income tax (Exemptions), said that four-month window under the income declaration scheme (IDS 2016) was the last chance to declare black money. Tax payers should come forward and disclose their unaccounted income and undisclosed assets to buy peace and avoid litigation.

Arora said the IDS scheme would not be extended beyond the four-month period. The scheme will end on September 30. He said after September 30 IT Department would take steps to penalize the tax evaders. — OC