payment of tax Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS https://centralgovernmentnews.com/tag/payment-of-tax/ All about Central Government Employees News. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more. Fri, 09 Sep 2016 13:10:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://centralgovernmentnews.com/wp-content/uploads/2019/02/cropped-central-government-employees-news-32x32.png payment of tax Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS https://centralgovernmentnews.com/tag/payment-of-tax/ 32 32 The Income Declaration Scheme, 2016 https://centralgovernmentnews.com/the-income-declaration-scheme-2016/ https://centralgovernmentnews.com/the-income-declaration-scheme-2016/#respond Fri, 09 Sep 2016 13:10:58 +0000 http://centralgovernmentnews.com/?p=15227 The Income Declaration Scheme, 2016 – Reserve Bank of India(RBI) requested to issue instructions to banks to allow payment of tax under the Scheme in cash and to allow deposit of cash over the counter. The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes in the past to […]

The post The Income Declaration Scheme, 2016 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

]]> The Income Declaration Scheme, 2016 – Reserve Bank of India(RBI) requested to issue instructions to banks to allow payment of tax under the Scheme in cash and to allow deposit of cash over the counter.
The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme has come into effect from 1.6.2016 and is open for declarations upto 30.9.2016.

In respect of the issue of deposit of cash declared under the Scheme, the Central Board of Direct Taxes (CBDT) vide Circular No.29 of 2016 dated 18.8.2016 clarified that Reserve Bank of India (RBI) has been requested to issue instructions to banks to allow payment of tax under the Scheme in cash and to allow deposit of cash over the counter.

The RBI has vide its circular dated 08.09.2016 instructed the banks to invariably accept cash deposits from all the declarants under the Scheme and to accept cash deposits, irrespective of amount, over the counters, for making payment under the Scheme through challan ITNS-286.

The relevant circular of RBI is available on the departmental website www.incometaxindia.gov.in

The post The Income Declaration Scheme, 2016 appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

]]> https://centralgovernmentnews.com/the-income-declaration-scheme-2016/feed/ 0