Excelsior Correspondent
UDHAMPUR, Aug 23: Income Tax Department today held interaction with the representatives of Tax Bar Association, Chamber of Commerce, Jewellers Association, Beopar Mandal, Karyana Association, Contractor Association and prominent citizens of Udhampur and adjoining areas.
The meeting was held under the guidance of Principal Commissioner of Income Tax, J&K, Sangeeta Gupta by S K Sharma, Joint Commissioner of Income Tax, Range-2, Jammu along with M L Dogra, Income Tax Officer, Udhampur.
Speaking on the occasion, Joint Commissioner briefed on the techniques for promoting the business as per the changing needs of the modern business community and emphasized that the growth of the business is directly linked with the growth of the Indian economy and positive growth will lead to the prosperity of nation.
Speaking about the benefits of honest tax paying, he informed the gathering that J&K is the only State where contribution of Rs 100 by the tax payers comes directly back to them in the form Rs 125 which is used for all round development of the State. He appealed the people to disclose their undisclosed income and come clean by availing the benefits of Income Declaration Scheme.
Briefing about salient features of IDS, which is going to end on September 30, 2016, M L Dogra said that the scheme gives a chance to the holders of undisclosed income/assets, cash, jewellery, plots, shares etc pertaining to FY 2015-16 or earlier years to come clean by paying 45 per cent of tax, surcharge and penalty on the income disclosed.
He said that declaration under this scheme can be made online at the website www.incometaxindia.gov.in or Principal Commissioner of Income Tax, J&K. The gathering was apprised of the fact that they must take benefit of this scheme as the department is in possession of large volume of information from various sources such as Registrars of property, banks, financial institutions, stock exchanges, tax deductors etc and stern action will be taken after the closure of this scheme.
Rajeev Gupta, Ravi Malguria, Surinder Khalsa, Joginder Verma, Jatinder Vermani, Dr S K Raina, Dr Jogeshwar besides other prominent businessmen and professionals attended the meeting.
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