Reminding tax evaders of the Income Disclosure Scheme (IDS) to come clean and pay up by September 30, Union finance minister Arun Jaitley on Saturday said the government was aware of the sectors that generated black money. “Everybody, including the tax department, is aware of the sectors in which unaccounted money is generated. Those who pay taxes lead a life without fear and I am sure it is an opportunity which is granted,” Jaitley reiterated. “I hope the scheme is an opportunity for tax payers to come out clean, sleep well and live with their heads held high. Hinting that non-payment of direct taxes would be detected in the near future, he said all those who earn must pay taxes, which are reasonable in India when compared to the rates in other countries.

Source: Hindustan Times July 23, 2016 15:22 UTC