Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

Govt mulls tax amnesty scheme
January, 19th 2011

Amid mounting pressure to crack down on black money, the revenue department is contemplating a scheme to unearth such funds. The options under consideration include a tax amnesty scheme to get back ill-gotten wealth parked overseas.

While I-T officials said that a scheme to unearth black money was under discussion in the finance ministry, they added that it was a preliminary brainstorming session and might not actually be announced.

In the past too, at least on two occasions, there was talk of a tax amnesty scheme being introduced but finance ministers stayed away from any such proposal. When asked, CBDT chairman Sudhir Chandra refused to comment on the issue.

The government had last introduced a tax amnesty scheme the Voluntary Disclosure of Income Scheme in 1997-98, which had helped unearth close to Rs 10,000 crore. The scheme had got judicial endorsement with the Supreme Court upholding its validity, though the government had told the court that it was a one-time measure.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting