Declaration of undisclosed income
Income Tax Dept. , Govt. of India has taken a strong initiative to recover Black Money hidden in India. It has recently issued a Circular to declare the income which has not been shown in the F.Y. 2015-16 or earlier years. The deadline has been fixed 30th Sept. 2016. No criminal prosecution will be endowed upon if a person declares his income (not previously disclosed) within this period. Only he/she will have to pay taxes for the same. The Tax evaders may have to face trouble if found guilty after the dead line.
It is being circulated as "A Time Bomb" .....

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