GOVERNMENT OF INDIA
MINISTRY OF FINANCE
UNSTARRED QUESTION NO: 2984
ANSWERED ON: 02.12.2016
Utilisation of Funds of IDS 2016
CHANDRAKANT BHAURAO KHAIRE
Will the Minister FINANCE
be pleased to state:-
(a) whether the Government has collected thousands of crores of rupees by levying tax on declaration of undisclosed income under the Income Declaration Scheme (IDS), 2016;
(b) if so, whether the Government proposes to utilise the funds accrued through IDS to undertake developmental works in the country; and
(c) if so, the details thereof and if not, the reasons therefor?
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI SANTOSH KUMAR GANGWAR)
(a) The dates specified for payment of tax, penalty and surcharge under the Income- Declaration Scheme, 2016, are 30.11.2016, 31.03.2017 and 30.09.2017. In view of the same, the total amount collected under the Scheme shall be firmed up after the last date of installment i.e. 30.09.2017.
(b)&(c) Does not arise in view of reply to (a) above.