What is the quantum of reward if the Informant is eligible for a reward under Income Tax Informants Reward Scheme, 2018, and Benami Transactions Informants Reward Scheme, 2018?
FAQs on Income tax informants reward scheme, 2018
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Informant reward cap: combined claims under income-tax and benami schemes are limited to the higher statutory ceiling applicable. When an informant claims rewards under both the Income Tax Informants Reward Scheme, 2018 and the Benami Transactions Informants Reward Scheme, 2018 based ... Summary
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Informant reward cap: combined claims under income-tax and benami schemes are limited to the higher statutory ceiling applicable.
When an informant claims rewards under both the Income Tax Informants Reward Scheme, 2018 and the Benami Transactions Informants Reward Scheme, 2018 based on substantially the same facts, the combined total payable is limited by the higher statutory ceiling between the two schemes; for information concerning the PBPT Act and the Income Tax Act the aggregate is restricted to the Benami scheme ceiling, and for information concerning the Black Money Act and the Income Tax Act the aggregate is restricted to the Income Tax scheme ceiling.
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