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of <h1>Income Declaration Scheme 2016: Central Government Empowered to Address Implementation Challenges Under Clause 195</h1> Clause 195 of the Income Declaration Scheme, 2016, grants the Central Government the authority to address any difficulties in implementing the Scheme's provisions, provided such orders are consistent with the Scheme and issued within two years of its commencement. Orders must be presented to Parliament. The Scheme, operational from June 1, 2016, allows individuals to declare undisclosed income, subject to a 30% tax, a 25% surcharge (Krishi Kalyan Cess), and a 25% penalty. It outlines procedures for declarations, ensures declared income is not included in total income, provides wealth-tax exemptions, and empowers the Central Board of Direct Taxes to formulate rules.
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