Income Declaration Scheme: CBDT extends working hours to receive Declarations until Midnight of 30th Sept.

Income Declaration Scheme - Finance Act - taxscan

In order to facilitate the declarants who would like to file the declaration in paper form under the Income Declaration Scheme, 2016, the Central Board of Direct Taxes (CBDT) has issued instructions to all Principal Chief Commissioners of Income Tax across India to ensure that arrangements are made for receiving such declarations till midnight of 30-09-2016.

Declarations can also be made online as well as in printed copies of the prescribed form upto midnight on 30th September, 2016.

Accordingly, the counters for receiving declarations under the Income Declaration Scheme – 2016 shall be functional till 12:00 midnight on 30th September, 2016.

The Income Declaration Scheme, 2016 came into effect from 1st June, 2016. It provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets.

The Revenue Secretary, Dr. Hasmukh Adhia said, “Expectations are raised that looking to the enthusiasm of people for making IDS declaration, the date for IDS would be extended. We want to make it very clear that the last date for Income Declaration Scheme will not be extended. We therefore appeal to people to file their declarations in time before 30th September”.