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Dec 05, 2016
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IDS gets Rs 67,382 cr, over Rs 2K cr higher than estimate
The Finance Ministry today revised upwards black money disclosed under Income Declaration Scheme (IDS) to Rs 67,382 crore, which will fetch the government a little over Rs 30,000 crore in direct tax revenue even as it did not take into account two high value disclosures. The Income Tax Department, it said, did not take into consideration the much-talked about Rs 13,860 crore declaration made by Ahemdabad based Mahesh kumar Champaklal Shah, who has threatened to disclose the names of politicians and businessmen for whom he was acting as a front.
Source -
http://www.business-standard.com
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