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Black money crackdown: CBDT asks tax offices to stay open for extra hours

In order to extend the working hours on the last day of Income Declaration Scheme to receive declarations under the one-time domestic black money window, the Central Board of Direct Taxes (CBDT) on Wednesday asked

India TV Business Desk, New Delhi [ Published on: September 28, 2016 22:15 IST ]
Black money crackdown
Black money crackdown

In order to extend the working hours on the last day of Income Declaration Scheme to receive declarations under the one-time domestic black money window, the Central Board of Direct Taxes (CBDT) on Wednesday asked Income Tax Department to keep its offices open till the midnight of September 30.

 

"Vide order September 15, it was instructed that the counters for receiving the declaration under IDS, 2016 would remain open till the midnight of September 30, 2016 in all jurisdictions," a notification by the CBDT said.

"In order to further facilitate the filing of declarations even after office hours, the Principal Chief Commissioners are instructed to ensure that the counters for receiving the declarations under IDS, 2016 remain open till 8:00 PM on September 28 and 29, 2016 in all jurisdictions," said CBDT, the apex policymaking body of the Income Tax Department.

A senior official said no stone is being left unturned to ensure maximum declarations under the window, also called the Income Declaration Scheme (IDS).

"Hence, those staff who are involved in obtaining and collecting IDs declarations have been asked to extend their working hours by a few hours until 8:00 PM," he said.

To make compliance under IDS more easy, the government had a few months back extended the deadline for payment of tax and penalty under the window. It had also allowed declarants to pay the amount in three instalments by September 30 next year.

The first instalment of 25 per cent under the IDS 2016 will have to be paid by November 2016, followed by another 25 per cent by March 31, 2017.

The remaining amount will have to be paid to the exchequer by September 30, 2017.

Earlier the tax, surcharge and penalty under the black money disclosure window were required to be paid by November 30.

The scheme was announced by the government with an aim of bringing out black money from the domestic economy.

The government had come out with a similar scheme for Indians holding undisclosed income abroad.

The scheme will apply to undisclosed income whether in the form of investment in assets or otherwise, pertaining to financial year 2015-16 or earlier. The declarations can also be made online at the official e-filing portal of the department.

(With inputs from PTI)

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