Blackmoney Window

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  200% Penalty On Unexplained High Deposits May Be Slapped Before Tax Filing

  Income Tax Department may slap a hefty 200 per cent penalty on unexplained high cash deposits in banks even before annual tax returns are filed, Finance Ministry said.

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  Over Rs 71,000 Crore Disclosed Under Income Declaration Scheme: ICAI

  More than Rs 71,000 crore of undisclosed income has been declared under the one-time disclosure window.

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  Black Money Disclosure Scheme: Rs 65,000 Crore Declared, Says Arun Jaitley

  Finance Minister Arun Jaitley said 64,275 declarants disclosed over Rs 65,000 crore under the black money disclosure scheme.

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  No Extension In Deadline For Black Money Disclosure Scheme

  Government ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window.

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  Information Under Domestic Black Money Scheme Confidential: Government

  Government said information about those who declare their black money under the compliance window, ending September 30, will be kept confidential.

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  Taxman Asks Declarants To Hurry As Black Money Window Nears End

  The Income Tax department on Saturday said those holding potential black money should hurry up and declare their stash funds under the one-time domestic compliance window as only 20 days are left for the Income Declaration Scheme (IDS) to close.

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  Black Money Declarants Can Now E-File Their Disclosure: Taxman

  With just four weeks remaining for the black money disclosure scheme to close, government has given declarants an option to declare their undisclosed income through electronic filing rather than physical presentation of documents.

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  Black Money Disclosure: Taxman Not To Question Valuer's Report

  The valuation report from a registered valuer will not be questioned by the income tax department for disclosures made under the domestic black money compliance scheme, the CBDT clarified.

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  Black Money Disclosures: Centre Willing To Walk Extra Mile To Address Concerns

  Promising confidentiality on black money disclosures, government on Monday said it is willing to walk the extra mile to address any concerns and incorporate "positive suggestions" on the one-time compliance window provided to undeclared wealth holders to come clean.

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  Black Money Window: Taxman's Advertising Budget Hiked 50 Times

  With the government pulling out all the stops to make the one-time black money compliance window a success, the Income Tax Department has now hiked financial powers of its supervisory officers for publicity of the scheme by up to 50 times.

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  Government Extends Date For Payment Under Black Money Scheme

  The government on Thursday extended the deadline for payment of tax and penalty under the black money disclosure scheme and allowed declarants to pay the amount in three installments by September 30 next year.

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  Black Money Declarants Cannot Pay Tax From Undeclared Income

  The Income Tax Department came out with a fourth set of clarifications on the Income Declaration Scheme (IDS) on queries seeking to know if payment under the Scheme can be made out of the undisclosed income without including the same in the income declared.

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  Blackmoney Window: CBDT To Issue Notification To Ensure Secrecy

  CBDT is likely to issue a fresh notification making it clear that information about those who declare their black money under the compliance window which ends on September 30 will be kept secret, a senior official said on Thursday.

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  Government May Extend Tax Payment Deadline For Black Money Scheme

  The government may extend the deadline for payment of tax on black money disclosed during the one-time compliance window and has accepted the industry request for tax being paid in installments.

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  Come Clean By September 30: Arun Jaitley To Black Money Holders

  Mr Jaitley, who met industry chambers, CAs and tax professionals to clear any misgivings about the four-month compliance window provided to domestic black money holders to pay their taxes and escape harsher penalties, said there will be no extension of the scheme.