Black money window deadline Sept 30, FinMin reiterates

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SME Times News Bureau | 27 Sep, 2016
The window for disclosures under Income Declaration Scheme (IDS) will remain functional till 12:00 midnight on September 30, said the Finance Ministry on Tuesday.

"In order to facilitate the declarants who would like to file the declaration in paper form under the Income Declaration Scheme, 2016, the Central Board of Direct Taxes (CBDT) has issued instructions to all Principal Chief Commissioners of Income Tax across India to ensure that arrangements are made for receiving such declarations till midnight of 30-09-2016," said a PIB release.

"Declarations can also be made online as well as in printed copies of the prescribed form upto midnight on 30th September, 2016, it added".

Earlier, the government had ruled out any extension to the September 30 deadline for filing income disclosure under the window.

The Income Declaration Scheme, 2016 came into effect from 1st June, 2016. It provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets.