New Delhi: Revenue Department has extended the date to October 17 for recording of government forms by evaluates who are required to submit reviewed accounts in perspective of the continuous Income Declaration Scheme (IDS-2016).
The due date for documenting of wage government forms by citizens whose records are required to be examined under the Income Tax Act is the September 30 of the next year, Central Board of Direct Taxes said in an announcement. The citizens whose business receipts surpass Rs 1 crore or expert receipts surpass Rs 25 lakh amid the earlier year 2015-16 are required to record an Income Tax return joined by a review report by the previously mentioned due date, it said.
"Nonetheless, thinking about that the last date for making assertions under the Income Declaration Scheme 2016 is likewise September 30, the Central Board of Direct Taxes has chosen to augment the last date for such profits which were expected for September 30, 2016 to October 17, 2016 keeping in mind the end goal to evacuate bother and to encourage simplicity of consistence," it said.
IDS plan, dispatched by the administration on June 1 to reveal dark cash, closes on September 30. According to the IDS office, one can pay charge under the plan with trade out a bank and no enquiry will be made by any bank official. Under IDS, which happened on June 1, one can tell the truth by paying duty, punishment and cess totalling 45 for each penny of the undisclosed wage.