TaxTMI 
TaxTMI 
Petitions seeking condonation of delay in making payment of first instalment under the Income disclosure Scheme, 2016
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....i, dated the 28th of March, 2017 Order under section 119 of the Income-tax Act, 1961 Subject: Petitions seeking condonation of delay in making payment of first instalment under the Income disclosure Scheme, 2016-reg.- The Board has received condonation petitions under section 119 of the Income-tax Act, 1961 ('Act') from some of the declarants under the Income Disclosure Sche....
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....ections to the jurisdictional Principal Commissioners/ Commissioners to accept the payment of tax etc., payable under IDS in cases where remittance had been made through cheque, RTGS, electronic transfer etc. on or before 30th November, 2016, but the same was credited by banks after 30th November, 2016 but before 5th December, 2016. Further, to mitigate difficulties being faced by the declarants r....
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....ot paid any amount till now or further extending the date beyond the due date for regularising/facilitating the payment of liabilities under IDS merely to accommodate a few, especially when most of the declarants had abided by the prescribed scheduled date, does not merit consideration. It is noted that IDS does not provide for levy of interest on delayed payments, and hence, granting such a condo....
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....cheme were well publicised by the Government through various steps such as media campaigns in visual, print & social media, organized meetings, awareness programmes etc. whereby the declarants were also suitably informed of the legal consequences arising from non-compliance of payment schedule. Hence, any delay by the declarants on grounds mentioned above is solely attributable to lack of initiati....