IDS gets overwhelming response, whooping amount of Rs 65,000 crores unearthed

In its bid step to tackle menace of Black Money, the Govt. had notified the Income Declaration Scheme, 2016 (‘IDS’) on June 1, 2016. Such IDS closed on September 30, 2016. As per the Income Tax India’s official twitter handle @IncomeTaxIndia, the IDS received an overwhelming response with collection of whooping amount of around Rs 65,000 crores. However, with the final stock taking of declarations being filed in physical form on late night of September 30, 2016, this number likely to rise