Daijiworld Media Network - Mangaluru (SP)
Mangaluru, Oct 3: As per information, people from the city have made use of Income Declaration Scheme 2016 and come out with Rs 250 crore income that was undisclosed in their returns. Under this scheme, immunity from legal action was granted to people who declare their hitherto undisclosed income and pay a flat rate of 45 percent of such income as tax.
In the country as a whole, as per rough estimate, the income freshly declared by people under the above scheme is around Rs 65,000 crore.
It is gathered that majority of those who opted to disclose their income in this manner and paid penal tax as applicable from city, comprised of entrepreneurs, medical professionals, other professionals, and businessmen.
September 30 happened to be the last day for declaring undisclosed income under the said scheme.