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CBDT issues new set of FAQs to clarify queries regarding Income Declaration Scheme, 2016

News and Press Release - Dated:- 1-7-2016 - The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme came into effect o .....

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further queries from stakeholders seeking clarifications about various provisions of the Scheme. The issues raised have been examined and a further set of eleven FAQs have been issued today vide Circular No.25 of 2016. The circular inter alia provid .....

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s on the basis of information furnished in the declaration. An issue regarding the advantage of declaring undisclosed income and assets under the Scheme vis-à-vis declaration of the same as current income for Assessment Year 2017-18 was also r .....

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