A Book by CA K C Moondra on Income Declaration Scheme, 2016,
In the Finance budget of 2016, Finance Minister of India declared Income Declaration Scheme, 2016 through finance Bill. After passing the finance bill by both the houses of parliament and assent of President, Income Declaration Scheme, 2016 has become part of Finance Act, 2016. On this subject / scheme, there are many books available in the market. With altogether different and unique commentary, a book written by CA. K. C. Moondra is also available in the market but only online. In the online, soft book and print-book both are available through pothi.com.
As per this Income Declaration Scheme, 2016, any person can declare it’s black money / assets by paying total 45% tax on the declared income. As it appears, the scheme and terms and conditions of the scheme are not so easy. Therefore, author CA. K.C.Moondra tried his best to analyse all the provisions of Income Declaration Scheme, 2016. Such analysis is rarely seen in other books on this subject. Apart from this analytical commentary in this book, all the provisions, circulars and forms have also been made available in this book through amazon.in in addition to pothi.com.
This Book by CA K C Moondra on Income Declaration Scheme, 2016, is divided in to total 19 main chapters in addition to sub-chapters. Chapter No. 7 to Chapter No. 14 are really unique and well commented. Such commentary is rarely available. In these 8 chapters, the author covered many important subjects such as Effective Tax Rate – Less than or more than 45%, What is undisclosed income, Period of declaration regarding Old incomes / Assets, Effect of Non-declaration of Old incomes / Assets, Scheme Beneficial to Ineligible persons, Scheme As Emergency in the Income Tax World, Declaration of Benami Assets and Extent of Secrecy of the Declaration etc.