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Income Declaration Scheme 2016: All disclosures to be kept confidential, reiterates govt

The union government today reiterated that the information provided under the Income Declaration Scheme, 2016 is confidential and shall not be shared with anyone.

India TV Business Desk, New Delhi [ Published on: September 15, 2016 17:42 IST ]
South Block
South Block

The union government today reiterated that the information provided under the Income Declaration Scheme, 2016 is confidential and shall not be shared with anyone.

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 is valid till September 30, 2016.

The government has further clarified that the declarations filed with the Commissioner of Income-tax, Centralised Processing Centre, Bengaluru [CIT (CPC)] shall not be shared even with the jurisdictional Principal Commissioner / Commissioner and payments made under the Scheme shall not be visible to the jurisdictional officers as well.

Additionally, Form-2 and Form-4 required to be issued in such cases shall be system generated by the CPC.

It further adds that declaration filed with jurisdictional Principal Commissioner/Commissioner shall not be shared with any authority within or outside the department including the jurisdictional Assessing Officer.

In addition to that, the government has also clarified that the payments under the Scheme shall neither be reflected in 26AS statement nor can be viewed by the Assessing Officer in the Online Tax Accounting System (OLTAS) of the Department in the interest of confidentiality.

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