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Business EconomyPosted at: Sep 15 2016 8:07PM


Media reports on IDS baseless: CBDT

New Delhi, Sep 15 (UNI) The Central Board of Direct Taxes (CBDT) has clarified that the speculative reports regarding Income Disclosure Scheme (IDS) appearing in a section of media are not based on any statements issued by the department.
Certain sections of the press have been speculating on the taxpayers’ response to the currently on-going IDS 2016, over the last couple of days.
In a clarification issued by CBDT it is said the Department has since the commencement of the scheme, set to rest, various concerns of the taxpayers through public meetings and through the issue of FAQs over the last 3-1/2 months. The benefits of the scheme have also been publicised through print and electronic media, in both national and regional languages.
It has also been clarified that the scheme has generated a good interest and the response of the taxpayers has been steadily growing. The last few days remaining for filing of declarations are expected to give good results.
The CBDT has so far refrained from issuing any statement regarding number of declarations received, amounts declared or taxes paid under the Scheme in order to ensure complete confidentiality.
The confidential handling of declarations made under the Scheme is of utmost importance to the Income Tax Department and the CBDT is aware of its responsibility towards fulfilling this crucial role.
CBDT has said a formal and confirmed press release on the above aspects will be issued from the CBDT after the scheme closes on September 30, 2016.
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