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Meeting on IDS with prominent businessmen, accountants held 8/1/2016 11:13:48 PM Early Times Report UDHAMPUR, Aug 1:Income Tax Officer (ITO), Udhampur today organized a meeting with the prominent businessmen of district Udhampur, which included people from industry, hardware business and Brick Kiln Association. The meeting was held to apprise them with the ongoing Income Declaration Scheme (IDS) 2016. Prominent among those who attended the meeting included Sunil Verma, industrialist and Rakesh Khajuria, among others. In the meeting ITO, Udhampur ML Dogra informed that this scheme is operational till September 30. It gives a chance to the business community of Udhampur who are holders of undisclosed income/assets pertaining to Financial Year 2015-16 or earlier years to come clean by paying only 45% of tax, surcharge and penalty on the income so disclosed instead of paying more taxes and facing prosecution and scrutiny/enquiry under Income Tax Act and Wealth Tax Act. Later in the second session, M.L ITO Dogra chaired the meeting with the accountants of Udhampur and besides familiarizing them with the IDS, sought cooperation from them to meet out the targets fixed by the Higher authorities to bring potential declarants under the banner of this scheme. It was further conveyed that the Government of India has extended time line to deposit the entire tax of 45% in three installments on or before September 30 for the convenience of the business community. The representatives from business community and accountants appreciated the initiative of the Department and raised a number of queries in the interactive session.   Share This News with Your Friends on Social Network     Comment on this Story

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