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IDS fetches Rs 3,500 crore of taxes till Monday

The government's tax kitty will swell from tax payment under IDS and Pradhan Mantri Garib Kalyan Yojna

Dilasha Seth & Indivjal Dhasmana  |  New Delhi 

The first instalment of tax payment from those who have availed of the Income Declaration Scheme (IDS) 2016 stood at Rs 3,500 crore as on Monday November 28. This, according to officials, could swell to Rs 7,500 crore by Wednesday November 30, the last date.   The exchequer is expected to get Rs 30,000 crore from declarations worth Rs 65,250 crore under IDS in three instalments. Of this, Rs 15,000 crore would come in the current financial year through two instalments of Rs 7,500 crore each. “People will pay up as IDS is much more lucrative than the new disclosure ...

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First Published: Wed, November 30 2016. 04:31 IST
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