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Massive sum of untaxed money received under IDS: Arun Jaitley

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Published on 1 Oct 2016 11:07 AM GMT

Massive sum of untaxed money received under IDS: Arun Jaitley
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New Delhi: As much as Rs 65,250 crore has been collected from 64,275 declarants under the central government’s Income Declaration Scheme (IDS) which was closed on Friday last, said Union Finance Minister Arun Jaitley.

Talking to media persons, the minister also said that the amount was likely to be revised upward as the department of tax was still processing some declarations. It may be recalled the scheme, which was launched on June 1 last, gave tax-evaders an opportunity to avoid penalty by paying the due amount of tax.

Earlier, Prime Minister Narendra Modi had warned untaxed money holders of stringent action after September 30, last date of the scheme.

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