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New Income Disclosure Scheme From December 17th

New Income Disclosure Scheme From December 17th

Saturday, December 17, 2016, 1:16 PM

Tax evaders can declare their unaccounted money, under the Government’s new income disclosure scheme. Tax evaders can declare unaccounted income, till March 31st 2017. The name of the income disclosure scheme is the Pradhan Mantri Garib Kalyan Yojana. Tax evaders need to pay a tax of 50% on undisclosed income. Tax evaders then deposit 25% of undisclosed income, in a zero interest scheme.
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