IT dept launches e-Filing link to declare illegal assets, black money
Updated: Jul 21, 2015 03:27:15pm
New Delhi, July 21 (KNN) The Income Tax department has launched a e-filing link on its official website for declaring illegal foreign assets and black money using the one-time compliance window notified recently by government.
The electronic filing of Form 6 under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 has been enabled under the menu “e-File” after login, said IT Department.
Taxpayers are requested to e-file Form 6 during the compliance window which ends September 30, 2015, the department added.
The link has been provided on the official e-filing portal of the department https://incometaxindiaefiling.gov.in.
According to the scheme, such a declaration filed online by an individual or entity will have to mandatorily bear a "digital signature" for validation.
The new two-page form brought out for this purpose has been categorised as 'Form 6' and has a three-page annexure for the "statement of undisclosed assets located outside India".
The government had notified the three-month compliance window beginning July 1. The tax and penalty on such declared assets or funds can be paid till December 31.
Those availing the one-time 'compliance window' would be required to pay a tax of 30 per cent and a penalty of a similar amount. (KNN Bureau
The electronic filing of Form 6 under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 has been enabled under the menu “e-File” after login, said IT Department.
Taxpayers are requested to e-file Form 6 during the compliance window which ends September 30, 2015, the department added.
The link has been provided on the official e-filing portal of the department https://incometaxindiaefiling.gov.in.
According to the scheme, such a declaration filed online by an individual or entity will have to mandatorily bear a "digital signature" for validation.
The new two-page form brought out for this purpose has been categorised as 'Form 6' and has a three-page annexure for the "statement of undisclosed assets located outside India".
The government had notified the three-month compliance window beginning July 1. The tax and penalty on such declared assets or funds can be paid till December 31.
Those availing the one-time 'compliance window' would be required to pay a tax of 30 per cent and a penalty of a similar amount. (KNN Bureau
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