Over Rs. 71,000-cr disclosed under income declaration scheme

October 4, 2016

New Delhi, Oct 4: More than Rs 71,000 crore of undisclosed income has been declared under the one-time disclosure window IDS, chartered accountants' apex body ICAI said today - giving an amount much higher than the initial figures announced by the government.

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The four-month Income Declaration Scheme (IDS) is a one-time opportunity to those with hidden income to come clean by making the disclosure and paying 45 per cent tax and penalty. After the end of the window on September 30, the government had pegged the disclosed amount at Rs 65,250 crore, while adding that the final figures may go up on further tabulation.

"More than Rs 71,000 crore (worth undisclosed income) has been disclosed under the IDS as per latest available information," ICAI President M Devaraja Reddy said here at a press conference.

The number of assesses who disclosed their assets under the scheme is more than 64,000, he added.

Mr Reddy said the information is from the CBDT and "the amount could go up and not come down".

On October 1, Finance Minister Arun Jaitley said that as much as Rs 65,250 crore of blackmoney was declared under IDS.

Mr Jaitley had also said 64,275 declarations were made in the four-month window and this figure could go up once all the declarations filed online and manually are compiled.

The Institute of Chartered Accountants of India (ICAI) was actively involved in spreading awareness about IDS.

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January 12,2020

Kolkata, Jan 12: Prime Minister Narendra Modi on Sunday announced that Kolkata Port Trust will be renamed as Syama Prasad Mukherjee Port.

Addressing the gathering at the inauguration of 150th anniversary celebrations of Kolkata Port Trust, he said: "I announce the renaming of the Kolkata Port Trust to Dr Shyama Prasad Mukherjee Port. He is a living legend who was a leader for development and fought on the forefront for the idea of One Nation, One Constitution."

"This port represents industrial, spiritual and self-sufficiency aspirations of India. Today, when the port is celebrating its 150th anniversary, it is our responsibility to make it a powerful symbol of New India," Modi said.

The Prime Minister said that the Bharatiya Jana Sangh founder had set the stone for industrialization in India. "Chittaranjan Locomotive Factory, Hindustan Aircraft Factory, Damodar Valley Corporation and several others saw active participation from him," he said.

The Prime Minister also felicitated the two oldest pensioners of the Kolkata Port Trust, Nagina Bhagat and Naresh Chandra Chakraborty.

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January 14,2020

New Delhi, Jan 14: One of the four Nirbhaya gang rape convicts, who are scheduled to be hanged on January 22, moved a mercy plea before President Ram Nath Kovind to set aside the death sentence issued against him.

He also moved the Delhi High Court to set aside the death warrant issued by a trial court. This hearing is scheduled for Wednesday before a bench of Justices Manmohan and Sangita Dhingra Sehgal.

The petition, filed through advocate Vrinda Grover, seeks setting aside of the January 7 order issuing the warrant of his execution.

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January 29,2020

New Delhi, Jan 29: The Supreme Court on Wednesday dismissed the plea by Mukesh Kumar Singh, one of the four death row convicts in the Nirbhaya gang rape and murder case, challenging the rejection of his mercy petition by the President.

A three-judge bench headed by Justice R Banumathi said that expeditious disposal of mercy plea by the President doesn't mean non-application of mind by him.

The court also said that alleged sufferings in prison can't be grounds to challenge the rejection of mercy petition.

The bench said all relevant material including judgments pronounced by trial court, high court and Supreme Court were placed before the President when he was considering the mercy plea of the convict.

The bench also comprising justices Ashok Bhushan and A S Bopanna rejected the contentions of the counsel appearing for Singh that entire materials of the case were not placed before the President when he was considering his mercy plea.

The bench, while referring to two files placed before it by the Centre on Tuesday, said that as per the January 15 covering letter which was sent by the Delhi government to the Ministry of Home Affairs, all relevant documents were sent.

The bench noted that detailed judgements of trial court, high court and the Supreme Court, curative petition filed by Singh, his past criminal history and his family background were sent to the Home Ministry by the Delhi government.

"All the documents were taken into consideration by the President while rejecting the mercy petition," the bench said.

The bench also dealt with submissions advanced by the convict's counsel, who had argued that the mercy plea was rejected at "lightning speed".

The bench said that if a mercy petition is expeditiously dealt with, it cannot be assumed that it has been adjudicated upon in a pre-conceived mind.

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