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February 2017 Current Affairs
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Four month window to disclose black money opens on 1 June 2016

Four month window to disclose black money opens on 1 June 2016
01 June 2016 Current Affairs: The Income Declaration Scheme, seeking to provide an opportunity to all persons who have not declared their income correctly in previous years to come forward and declare undisclosed incomes, will open today and will remain in force till 30th of September.

According to reports, the four month disclosure window will provide an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on undisclosed assets.

People who have made money through corrupt means will not be allowed to take advantage of this scheme.

Under the scheme, persons making disclosure of unaccounted assets will be given time up to 30th of November to pay taxes, penalty and surcharge totalling 45 per cent at the fair market value.

The declarations can be filed online or with the jurisdictional Principal Commissioners of Income-tax across the country.Non declaration of undisclosed income will render such income liable to tax in the previous year in which it is detected by the Income tax Department along with other penal consequences.


March 2017 Current affairs
23 MAR
NEWS
22 MAR
NEWS
21 MAR
NEWS
20 MAR
NEWS
18 MAR
NEWS
17 MAR
NEWS

February 2017 Current affairs
28 FEB
NEWS
27 FEB
NEWS
25 FEB
NEWS
24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS



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