The Department of Income Tax-1 organised a Press conference on “Income Declaration Scheme 2016” here on Friday to enlighten the provisions of the scheme and create awareness among the members of Confederation of Real Estate Developers’ Association of India (CREDAI) Odisha chapter.
Abhaya Charan Rout from the Commissioner of Income Tax-1, Bhubaneswar, said the Government of India had introduced the ‘Income Declaration Scheme 2016’ for providing an opportunity to all persons, who had not declared their income correctly in earlier years and encourage them to come forward to declare such so far undisclosed income.
The scheme would remain in force for a period of four months from June 1 for filing of declaration and payments towards taxes, surcharge and penalty latest by 2016 November 30. Many senior officials spoke and cleared the doubts of the participants about the provisions of the scheme.