Diabytes
Tax amnesty scheme News
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Weeks before the new tax amnesty scheme closes, the government has clarified that any hard cash being disclosed must exist at the time of making payments, but the same condition is not necessary for undisclosed income held in the form of deposits.
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The I-T department on Thursday nudged blackmoney holders to make "honest" disclosures under the tax amnesty scheme -- PMGKY -- warning that non-declaration could attract 77.25 percent tax and penalty along with prosecution.
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Japanese brokerage Nomura on Friday said there will be a Rs 32,000-crore shortfall in revenue accretion because of the disappointing spectrum auctions, but it woould not affect the overall fiscal math of the government.
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