The Income Disclosure
Scheme (IDS) ended on September 30, 2016 and the gains and losses from it can
now be assessed. According to Finance Minister Arun Jaitley, there had been a
disclosure of Rs. 65,250 crore income with likely tax mop of nearly Rs. 30,000 crore.
There is jubilation about the results, which have been compared to the outcome
of VDIS (Voluntary Disclosure of Income Scheme) of 1997 where nearly Rs. 33,697
crore were declared with a tax collection of Rs. 9,760 crore.
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