May 17, 2024 02:08 (IST)
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Arun Jaitley to meet tax industry professionals to discuss IDS
New Delhi, Jun 28 (IBNS): Union Finance Minister Arun Jaitley is scheduled to meet industry associations and professionals on Tuesday to discuss about the four-month window being provided to holders of undeclared wealth to come clean, according to media reports.
The one-time compliance provision for black money holders in India and the opportunity to escape harsher penalties has raised many doubts, which the finance minister expects to clear in these meetings.
Jaitley, while tabling the Union Budget had announced a four-month window under the Income Declaration Scheme (IDS) 2016.
The Income Tax Department has implemented a four-pronged strategy to ensure success of the scheme, media reported.
During his 'Mann ki Baat' address, Prime Minister Narendra Modi asked people to declare their undisclosed income by September 30, and said this is the last chance to avoid problems that will follow after the window of opportunity closes.
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