In a first of its kind nationwide publicity drive, Income Tax Department has tied up with seven airlines including Air India and Vistara to publise ‘one time’ grey money compliance window by printing the scheme’s details on the back of boarding passes.
Armed with a total budget of Rs 100 crore, it will employ the services of the government’s publicity department, DAVP, to advertise the ‘fourmonth’ window provided to domestic grey money holders to come clean by paying a total tax and penalty of 45. It will also hold townhall meetings.
The Income Tax Department has tied up with seven airlines for Income Declaration Scheme These include Air India, Spicejet, Indigo, Vistara and Air Asia. Like club houses, with an eye to give wide publicity. At places frequented by possible declarants, posh markets and showrooms of ‘high end’ products. Beginning July 15 till September 30, the backside of the boarding passes issued by these airlines will have information relating to the IDS, an official said. At townhall meetings, it will issue bookmarks instead of pamphlets, as people tend to throw them away, the official added. The department, that has a total budget of Rs 100 crore for IDS, will set aside quite a few amount for publicity. The Income Tax Department has also asked its officers to make all out efforts to attract potential declarants by assuring them of confidential and ‘hassle free’ disclosures.
Whenever setting up of facilitation centres across the country, giving wide publicity and monitoring at the highest level, The four pronged strategy prepared by CBDT for the success of IDS includes single point contact for confidentiality.
Finance Minister Arun Jaitley in Budget had announced a fourmonth window under the Income Declaration Scheme The scheme, that opened on June 1, allows domestic grey money holders to declare ‘illgotten’ wealth and come clean by paying a tax and penalty totalling 45percentage.
In each city where Principal Commissioner is stationed, a ‘facilitation centre’ in the nature of might be opened for disseminating information about the scheme. In order to step up publicity for the scheme at local level, tax officers are asked to disseminate information through posters in regional languages, stalls at local fairs. Last year, the government came up with a similar scheme for persons having unaccounted grey money abroad. Disclosures during that window were charged with a total tax and penalty of 60percentage. The CBDT has also asked senior officers to hold frequent meetings with trade and industry bodies and professional associations, besides organising townhalls and seminars.
Rs 4147 undisclosed crore wealth was declared throughout the 90 day foreign blackish money compliance window that ended on September At 60percent, the government got a net tax of Rs 2500 crore from the declarations.
Rs 4147 undisclosed crore wealth was declared in the course of the 90 day foreign grey money compliance window that ended on September At 60, the government got a net tax of Rs 2500 crore from the declarations.