IDS-2 a good plan, but Nov 8 launch would have been better: Pro

The government's move to give people another chance to disclose their unaccounted money through IDS-2 (Income Declaration Scheme) is a big positive. But the government should have introduced it along with its demonetisation move, says Bishwajit Bhattacharyya, Former Additional Solicitor General Of India.Now, the people who thought they had no other choice, have somehow managed to deposit their ill-gotten fortunes in various accounts in small amounts, says Bhattacharyya. If the IDS-2 was introduced earlier, they would have been virtually coerced to declare the unaccounted money.Sanjay Hegde, Senior Lawyer agrees, saying now it is too late as most people have spread their black money across many hands. Hence it has also become very difficult to track. As it is, only 3 percent of the entire population pays taxes with even lesser people actually evading taxes. How many of these evaders would have laundered the money in which account may be a challenge for the government to spot.Bhattacharyya says the demonetisation cannot be reversed today. If opposing parties have an issue with the government's move they should have gone to the Supreme Court as soon as it was announced. The Supreme Court can not do anything now.Watch video for more.