Taxes can be deposited in cash – Income Declaration Scheme

On request raised by thegovernment, RBI has issued the instructions to the banks to accept payment of tax in cash under Income Declaration Scheme. Also, cash deposited with the banks under the said scheme shall not be taken into consideration by FIU (Financial Intelligence Unit) or Income Tax Department for any adverse action.

Source: http://www.incometaxindia.gov.in/Communications/Circular/Circular29_14072016.pdf

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