Government of India to Take Tough Steps to Counter Tax Evasion

Tax is the money that ordinary citizens are forced to give to the government thieves who squander that money at will. ~ Rakesh Raman

The Prime Minister of India, Narendra Modi, in his radio programme, Mann ki Baat aired on Sunday, 26th June, 2016, informed citizens about the benefits of declaring undeclared assets under the government’s Income Declaration Scheme.

He asked people to declare their undisclosed income and assets, making it clear that this is the last chance to avoid problems that will follow after the window of opportunity closes.

He said no questions would be asked about the source of the undisclosed income or assets if the declaration is made voluntarily.

For those having undisclosed income, the government has provided a special chance to declare it by September 30, 2016. Modi said by paying a penalty, those having undisclosed money can free themselves from various kinds of burden.

[ आइए सुने अपने प्रधान मंत्री नरेंद्र मोदी जी के मन की बात ]

Modi asked those with unaccounted incomes and assets to use this “golden chance” provided by the government before the window of opportunity closes and the government begins to take tough steps to counter tax evasion.

The Income Declaration Scheme (IDS), 2016 incorporated as Chapter IX of the Finance Act 2016 has commenced from 1st June, 2016 and shall remain in force for a period of 4 months up to 30th September, 2016.

According to the government, this Scheme is an important step to reign in undisclosed income and assets as it provides an opportunity to all persons who have not declared income correctly in earlier years to come forward and declare such undisclosed income.

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The Income-tax Department is taking all possible steps to take the scheme to the people through publicity in print / electronic and audio-visual media.

A large number of public meetings and meetings through trade and market associations are being held all across the country in metros as well as tier two and three stations, as part of an awareness campaign.

Queries regarding the Scheme have also been addressed by the senior officers of the Department at all stations through these meetings, through the Income-tax website as well as through programmes being aired on DD News.

Photo courtesy: Government of India