News From Press 45%: tax to be paid under IDS for undisclosed income

45%: tax to be paid under IDS for undisclosed income

Source: Mint Sep 28, 2016

Under the Income Declaration Scheme (IDS) 2016, a declarant needs to pay tax at the rate of 45% on the undisclosed income, or the assets acquired using it.

This will help them to regularise the wealth.

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