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IDS News

07 Jan 2021

Government approves Central Sector Scheme for Industrial Development of J&K

The Centre has formulated a NIDS for Jammu & Kashmir The Central Sector Scheme aims for the Development of Industries in the UT of Jammu & Kashmir

17 Dec 2016

Alert! Use this e-mail id to inform govt about tax evaders

The government also unveiled an e-mail address to allow people to send information about tax evaders.

17 Dec 2016

Demonetisation: New income disclosure scheme kicks off, March 31 deadline for black money holders

This income disclosure scheme, which is seen as the last attempt to by the government to curb the black money inflow in the system, rolls out from Saturday and end on March 31, 2016.

17 Dec 2016

Noose tightens on tax cheats, even as govt gives one last chance to come clean on black money

The government has tightened noose on black money holders and is planning to apply technology like data analytics and data mining to sift accounts that are trying to covert their black money into White, even though it announced one last chance, on Friday, to come clean on the unaccounted wealth.

Business News 2016

16 Dec 2016

Black money crackdown: Rs 65,250 crore mopped up via Income disclosure scheme (IDS)

Income declaration scheme (IDS), 2016 was a scheme introduced by Narendra Modi led government to unearth black money and bring it back into the system.

Income Declaration Scheme

05 Dec 2016

I-T department rejects declaration of Rs 2,00,000 crore made under IDS by Mumbai family

The Income Tax department has rejected declaration of Rs 2,00,000 crore made under IDS made by a family of four from Mumbai

04 Dec 2016

IDS gets Rs 67,382 crore, over Rs 2,000 crore higher than estimate realised

The figure of black money disclosed under Income Declaration Scheme (IDS) was revised to Rs 67,382 crore by the Finance Ministry on Sunday. This is Rs 2,000 crore highe than the earlier number.

04 Dec 2016

Rs 14,000 crore default case: Will Mahesh Shah reveal name of 'big fish'?

The Charted Accountant of Mahesh Shah, the missing businessman from Gujarat, who had disclosed unaccounted earnings of Rs 13,860 under Income Declaration Scheme (IDS)claimed that Shah will reveal the name of "one big fish" whose money was part of the Rs 13,860 crore he disclosed in IDS form.

Gujarat businessman

03 Dec 2016

Rs 14,000 crore default case: Gujarat businessman detained, says money belongs to politicians, babus

Mahesh Shah, the missing businessman from Gujarat, who had disclosed unaccounted earnings of Rs 13,860 under Income Declaration Scheme (IDS) and since gone missing for 10 days was detained by I-T officials from the sets of a TV news channel on Saturday.

28 Nov 2016

Govt launched new scheme for the declaration of black money

28 Nov 2016

Banks to accept payments under Income Disclosure Scheme till 2017 without seeking source

Banks will be accepting the first installments of tax payments under the Income Disclosure Scheme 2016 with creating any hassle for the declarant or seek any source of funds.

27 Nov 2016

Income Tax department reminds IDS declarants to pay tax by Nov 30

With the last date for payment of tax instalment under IDS drawing close, the Income Tax Department today warned declarants that non-payment of first instalment by November 30 will make declarations invalid.

18 Nov 2016

Black money: IDS 'major success', will yield Rs 29,362 cr in taxes, says Arun Jaitley

Describing domestic black money declaration scheme IDS as a "major success", Finance Minister Arun Jaitley Friday said it will yield Rs 29,362 crore in taxes, which is three times the amount garnered by the then government in 1997 amnesty scheme, VDIS.

10 Oct 2016

Tax from IDS to cushion spectrum auction shortfall: Arun Jaitley

Tax collected under the country's biggest black money disclosure will help cushion revenue shortfall from the sale of telecom spectrum and help manage the fiscal situation, Finance Minister Arun Jaitley said on Monday.

03 Oct 2016

Black money disclosure: Identity of individuals strictly confidential, says CBDT

Income Tax Department Monday said "strict confidentiality" will be maintained about the identity of persons who have disclosed black money during the 4-month window under the Income Declaration Scheme (IDS).

Income Declaration Scheme

03 Oct 2016

Rs 14,700 crore in government coffers from IDS this fiscal: Nomura

Income declaration scheme (IDS) 2016 provided an opportunity for people to disclose their hitherto undisclosed domestic income and assets. The window was open from June 1 to September 30, 2016. A declarant had to pay a tax of 45 percent on the undisclosed income.

02 Oct 2016

Black money disclosure scheme: CAG may audit Rs 65,250 crore, not individual declarations

As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations through the one-time four-month compliance window provided under the Income Disclosure Scheme (IDS) that ended on September 30.

01 Oct 2016

Tax dept unearths Rs 56,378 crore undisclosed income in searches

The Income Tax department has unearthed undisclosed income of Rs 56,378 crore during search operations conducted over two years time and seized cash of about Rs 2,000 crore.

01 Oct 2016

Rs 30,000 crore tax expected from IDS declarations: CBDT chief

The CBDT expects to mop up a tax revenue of Rs 30,000 crore, with 50 percent coming this fiscal, under the one-time domestic black money compliance window that has seen stash declarations to the tune of Rs 65,250 crore.

02 Oct 2016

Record black money declaration: Rs 65,250 crore mopped up under Income Declaration Scheme

What should be termed as a boost to government's efforts in cracking down on black money, the Income Tax Declaration Scheme that ended on September 30 managed to mop up Rs 65,250 crore.

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