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Declaration of undisclosed Black Money – an analysis to understand success

Corporate Laws / Banking / SEBI - By: - CA DEV KUMAR KOTHARI - Dated:- 25-11-2016 - As per written reply to a question in Rajya Sabha found on link (https://www.taxmanagementindia.com/wnew/print_tmi_Commentary.asp?ID=16914 ), given by Shri Santosh Ku .....

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ion Scheme, 2016. (*Provisional). These figures are marked (*Provisional) that means some changes may take place and final figures may be different. Therefore, apparently, average per declaration is just a bit more than Rs. one crore. Rs. one crore i .....

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7; 101 lakh is very small to call it highly successful. Particularly if we consider some of cases of cash and other properties found in cases of disproportionate income of government officers and even junior officers in government and government orga .....

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e successful, if it was made a SCHEME TO CLEAN ALL SINS by all including corrupt government officers and politicians. For the reason that government officers and politicians, could not make declaration under IDS, the effort for bringing out black mon .....

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fear of proceedings and also by undertaking surveys etc. The payment is to be made in instalments, it is likely that some declarants may withdraw declarations on some possible grounds like it was made due to pressures from tax authorities directly a .....

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f first instalment is 30th November, 2016. Hence, the quantum of tax collected as part of the Scheme cannot be quantified at this stage. View of author: As per author, on consideration of time spent by tax officers in perusing IDS (including pressure .....

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