July 1, 2016 9:58 PM

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New Income Declaration Scheme, an opportunity to come clean on undisclosed income: Revenue Secy

Revenue Secretary Hasmukh Adhia on Friday said the new Income Declaration Scheme is an opportunity for people to come clean on the issue of payment of tax dues and undisclosed income. He was speaking in a press conference in Mumbai. <br/><br/>Speaking about the scheme he said people can declare their undisclosed income in any form that is in the form of investment in assets in India or elsewhere and also clear their past transgressions with the help of the new scheme.<br/><br/>He also made it clear that the information provided to the Income Tax Department under the Income Declaration Scheme will not be shared with any other tax or law enforcement agency. He further said that the scheme deadline will not be extended but those who file for this scheme before September 30 will get two months more for paperwork.

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