Government on Friday ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window. "We want to make it very clear that the last date for Income Declaration Scheme (IDS) will not be extended," Adhia tweeted. — Dr Hasmukh Adhia (@adhia03) September 23, 20162/3 We want to make it very clear that the last date for Income Declaration Scheme will not be extended. — Dr Hasmukh Adhia (@adhia03) September 23, 2016Under the IDS, people can disclose their undeclared income and escape prosecution. — Dr Hasmukh Adhia (@adhia03) September 23, 2016Those disclosing assets under the IDS will have to pay 45% tax plus penalty.

Source: dna September 23, 2016 18:45 UTC