Sources have stated that the finance minister Arun Jaitley will meet the industry associations tomorrow to clear the doubts about the four month window which was provided to holders of undeclared wealth to come clean and this will be the first such meeting Jaitley holds to explain provisions as well as clear misgivings about one time compliance window.
A finance Minister Official has stated that the IT department has already adopted a 4 pronged strategy to ensure success of the scheme and the PM warned the black money holders to take advantage of the scheme or to face action.
It is said that the minister will meet the industry chambers, CAs and other professionals tomorrow in relation to the IDS and the Finance Minister has announced a four month window under the Income Declaration Scheme (IDS) 2016.
It is said that a total of Rs.4147 crore of undisclosed wealth was declared during the 90 day foreign black money compliance window that has ended during September 30th at 60% and the government has got a net tax of Rs.2500 crore from the declarations.
