Held In the taxing statutes, the Court has to be very slow in interpreting the statutes where intention of the legislature is to curb the evasion of tax. This is a peculiar case where the Government has granted the benefit under the scheme only to the persons who are not covered under Section 132 of… Read More »
MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 108/2016- INCOME TAX New Delhi, the 29th November, 2016 G.S.R. 1100(E).—In exercise of the powers conferred by clause (ii) of Explanation 1 to clause (42A) of section 2, read with section 295 of the Income–tax Act, 1961 (43 of 1961), the Central… Read More »
Instruction No.12 of 2016 F.No.370142/8/2016-TPL (Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** New Delhi, the 11th November, 2016 To, All Principal Chief Commissioners of Income-tax Subject: – The Income Declaration Scheme, 2016 (the Scheme) -reg. Instances have been reported by the field authorities that… Read More »
CBDT committed to Strict Confidentiality under Income Declaration Scheme: 2016 While announcing the results of the Income Declaration Scheme 2016 on 1st October, 2016 at a press conference in Delhi, the Honourable Finance Minister Shri Arun Jaitley stressed that no break-up of these declarations on the basis of trades/cities/states shall be released in order to… Read More »
Income Declaration Scheme 2016 unearths Rs.65250 crore of hitherto Undeclared Income and Assets; 64275 declarations filed under IDS-2016 up to the midnight of 30th September, 2016 The Income Declaration Scheme, 2016 came into effect from 1st June, 2016. It provided an opportunity to persons who had not paid full taxes in the past to… Read More »
F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) *** New Delhi, the 30th September, 2016 To, All Principal Chief Commissioners of Income-tax Sub.: Uploading of Form-1 filed under the Income Declaration Scheme, 2016 – reg. CBDT Instruction No.10 of 2016 dated 28.09.2016 provides that in cases where the… Read More »
Instruction No.9 of 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) *** New Delhi, the 27th September, 2016 To, All The Principal Chief Commissioners of Income-tax Sub.: The Income Declaration Scheme, 2016 – reg. Instances have been brought to the notice of the Board that some taxpayers… Read More »
F. No. 282/227/2016-IT(Inv-.V)/26/2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Investigation Division) New Delhi, dated 21st September, 2016 Order under section 119 of the Income-tax Act, 1961 Circular No.17 of 2016 dated 20.05.2016 relating to the Income Declaration Scheme, 2016 (the Scheme) clarifies that a person shall be eligible to make declaration… Read More »
Income Declaration Scheme 2016 (IDS 2016) Latest Books on Income Declaration Scheme 2016 (IDS 2016) CBDT had issued the following Scheme and Rule in theIncome Tax Act on Income Declaration Scheme 2016 (IDS 2016) :- Income Declaration Scheme 2016 -Chapter IX of Finance Act 2016 Income Declaration Scheme 2016 Explanatory notes [Circular No. 16 of 2016, F.No.370142/8/2016-TPL, Dated 20.05.2016] Income Declaration Scheme Rules… Read More »
CHAPTER IX OF THE FINANCE ACT, 2016 THE INCOME DECLARATION SCHEME, 2016 Short title and commencement. 181. (1) This Scheme may be called the Income Declaration Scheme, 2016. (2) It shall come into force on the 1st day of June, 2016. Definitions. 182. In this Scheme, unless the context otherwise requires,— (a) “declarant” means a… Read More »