Income Declaration Scheme

Barely Rs 4,000 crore of undisclosed income has been reported under the scheme, against the targeted Rs 1 lakh crore, two senior officials told Moneycontrol.

As PM scheme's deadline nears, Tamil Nadu man deposits Rs 246 crore in old notes

The man, whose identity is not yet revealed, deposited the cash in an Indian Overseas Bank branch under the Pradhan Mantri Garib Kalyan Yojana (PMGKY).

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

Sanjay Hegde, Senior Lawyer says 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.

Govt revises amount declared under IDS to below Rs 60,000 crore

Earlier the Centre had announced that over Rs 67,000 crore had been disclosed under the income declaration scheme. Sources have told CNBC-TV18, that the figure has now been lowered to under Rs 60,000 crore.

More holes in Modi's Income Declaration Scheme: Chidambaram

The former Union finance minister's comment came after Ahmedabad-based realtor Mahesh Shah, who, a few days ago, had declared unaccounted income of Rs 13,860 crore, yesterday appeared on a television show claiming that he was just a face for the money belonging to others.

Accept IDS payments till 2017; don't ask source: IBA to banks

With the last date for paying the first installament of due taxes and penalty under the one-time black money window IDS nearing, banks have been asked to ensure that such payments are accepted without any hassle and the source of funds is not sought from the declarant.

AP CM-Jaganmohan slugfest on blackmoney issue reaches PM Modi

Jagan's letter came a day after Chandrababu indirectly sought to imply that the YSRC leader declared an income of Rs 10,000 crore under the Income Declaration Scheme.

SIT to crack down on P-notes, asks Sebi to provide data: Report

SIT has asked Sebi to provide details on investments through P-notes and including complete transfer trails and beneficiary owners, the BS report states.

Govt on track for highest divestment collection ever: FM

In an interview with CNBC-TV18, Finance Minister Arun Jaitley talks about the government's fiscal position, divestment plan and the NPA issue.

Expect banks to transmit rate cut fully to mkt: Shaktikanta Das

Speaking to CNBC-TV18 Shaktikanta Das, Secretary, Economic Affairs, said that it is heartening to note that the Monetary Policy Committee has started functioning. He agreed with the RBI governor that there is still room for improving. He expects banks to transmit the rate cut fully to the market.

Amount collected under black money window below expectation:Cong

The government had said Rs 65,250 crore in black money was declared through the one-time declaration window.

Black money disclosure: ID strictly confidential, says CBDT

A huge sum of Rs 65,250 crore in black money was declared through the one-time declaration window that closed last week, marking the biggest-ever disclosure of hidden wealth that will rake in Rs 29,362 crore in taxes to the exchequer.

No witch-hunt against black money declarers: I-T Commissioner

One of the biggest positives of the government‘s Income Declaration Scheme is that small businessmen who came with large declarations, according to DS Saksena, Principal Chief Commissioner of Income Tax Department Mumbai.

IDS: Rs 65,250 crore declarations made, says Arun Jaitley

Jaitley said 64,275 declarations were made in the four- month window and this figure could go up once all the declarations filed online and manually are compiled.

Collection under black money scheme to touch Rs 30k cr: Taxsutra

Arun Giri of Taxsutra told CNBC-TV18 the response to Income Declaration Scheme (IDS) was tepid a few weeks ago. However, in the past 72 hours, declarations have crossed Rs 25,000 crore.

Black money scheme has seen declarations 'beyond expectation'

The response to the government's Income Declaration Scheme (IDS) for black money has been "beyond expectations", DS Saksena, Principal Chief Commissioner of Income-Tax Department, said even as he did not outline any numbers.

Black money declaration may cross Rs 25,000 cr: Taxsutra

Speaking to CNBC-TV18 on the sidelines of International Tax Convention in Madrid Taxsutra's Arun Anandgiri, and noted tax expert TP Ostwal said the Income Declaration Scheme (IDS) has seen a sharp uptick in the last week.

No extension in deadline for black money disclosure scheme

In a series of tweets, Revenue Secretary Hasmukh Adhia said that expectations are raised that looking to the enthusiasm of people for making IDS declaration, the date for income disclosure scheme (IDS) would be extended.

Taxman running 'surveys' on premises ahead of declaration date

Speaking to CNBC-TV18 on the status DS Saksena, Principal Chief Commissioner of Income Tax says these are just 'surveys' based on credible information received about possible tax evasions.

Govt extends return filing date for large taxpayers to Oct 17

The due date for filing of income tax returns by taxpayers whose accounts are required to be audited under the Income Tax Act is the September 30 of the following year, Central Board of Direct Taxes said in a statement.

Money Money Money: Mumbai's income tax boss explains IDS

Watch the interview of Principal Chief Commissioner of Income Tax Mumbai, DS Saksena and Personal Finance Expert, Harshvardhan Roongta with Surabhi Upadhyay on CNBC-TV18, in which DS Saksena clears the air on the Income Declaration Scheme (IDS) and tells us exactly how it works.

Black money window: Govt ups advt. spending limit of I-T brass

The regional heads of the tax department could only spend Rs 1 lakh per annum under the 'advertising and publicity' head. But it has now been hiked keeping in mind the extensive media campaign for the ongoing four-month domestic black money widow, the Income Declaration Scheme (IDS), and the ambitious Dispute Resolution Scheme.

Blackmoney declarants cannot pay tax from undeclared income

The clarification in the form of frequently asked questions (FAQs) stated that there is no intent to "modify or alter the rate of tax, surcharge and penalty payable under the Scheme which have been clearly specified in the Scheme itself".

BSE taking steps to curb illegal money flow into penny stocks

In a bid to prevent black money being invested in shares, India's oldest stock exchange BSE has created various price bands for scrips on weekly, monthly, quarterly and annual basis for early deduction of illegal money flows.

CBDT works hard to make income declaration scheme a big success

The Central Board of Direct Taxes has chalked out a three-pronged action plan to steadfast the process amongst I-T departments across the country, said Arun Giri of taxsutra.com.