The Income Declaration Scheme, 2016 (‘IDS’) provides an opportunity to persons who have not paid full taxes in past to come forward and declare their undisclosed income and assets. The IDS is open for declaration up to 30.09.2016.
Govt. reiterates that the information contained in a valid declaration under IDS is confidential and shall not be shared with any authority. Further, the payments under IDS shall neither be reflected in 26AS statement nor can be viewed by the Assessing Officer in the Online Tax Accounting System (OLTAS) of the department in the interest of confidentiality.