Income Declaration Scheme 2016

CBDT Circular No 16/2016, Dated: May 20, 2016 [F.No.370142/8/2016-TPL] Introduction The Income Declaration Scheme, 2016 (referred to here as ‘the Scheme’) is contained in the Finance Act, 2016, which received the assent of the President on the 14th of May 2016. The Scheme provides an opportunity to persons who have paid not full taxes in the past to come forward and declare the undisclosed income and…