Finance Minister Arun Jaitley will meet industry chambers, Chartered Accountants, and and other professionals in New Delhi this evening on black money issue. <br/><br/>At the meeting, the Finance Minister will explain provisions as well as clear misgivings about the four-month window provided to domestic blackmoney holders to pay their taxes and escape harsher penalties. The I-T department has already adopted a 4-pronged strategy to ensure success of the scheme.<br/><br/>On Sunday, Prime Minister Narendra Modi had had warned the black money holders to take advantage of the scheme or face action. Mr Jaitley in his Budget speech had announced a four-month window to declare black under the Income Declaration Scheme (IDS) 2016.<br/><br/>The scheme, which opened on June 1, allows domestic black money holders to declare ill-gotten wealth and come clean by paying a tax and penalty totalling 45 per cent.
News On AIR | June 28, 2016 4:58 PM
'FM to meet industry chambers, CAs on black money issue