Payment of Tax on undisclosed income under Income Declaration scheme is extended till 31st January 2020

The Ministry of Finance in its Notification dated 13th December 2019 has Notified that the persons who have made a declaration under the Income Declaration Scheme, 2016, in respect of any income chargeable to tax under the Income-tax Act but have not made payment of tax, surcharge, penalty payable there under on or before the due dates, may make the payment of such amount on or before the 31st day of January 2020, along with interest on such amount, at the rate of one percent per month or part of a month comprised for the period commencing on the day immediately following the said due date as so notified, and ending on the date of such payment.

This Notification shall be effective from 1st June 2016.

Click here to read the Notification.