Declare your family Jewelry(it might be possible, that your family members have some precious jewelry of gold or Diamond or Silverware, that even your CA does not know !!!
Even you may not fully know ….)
Often, this is stored as non-productive asset for you as a businessman.
But, for your better half, this could be “more important” than business. (!!)
Help them own and wear fearlessly and with pride by declaring their Treasure and by paying some Tax.
We at IamSMEofIndia panel, felt that this is a Grey area that some people have,
and might be not fully accounted for.
Declaring this may have a positive effect on your personal balance-sheets.
It may also help you live without fear of taxmen.
|What to do ?||
Make your personal Balance Sheet / List of assets/ past expenses from undeclared sources.
Assess yourself what you should declare
Value of the asset shall be as on 1st June 2016 and approved by Govt. approved valuers.
|What else can I declare ?||You can declare, anything …. Even your business extra stock, business assets, expenses, anything, to come clean|
Declare using the simple return Form
Pay the tax of 45% on valuation/ Calculation
Last date to declare: 30.09.2016
Last Date to pay Tax: 30.11.2016
This information will be kept secret by the Department. Complete confidentiality shall be maintained by the Govt. Complete immunity from further prosecution, penalties.
No questions shall be asked on sources of money, where and how you made the assets or expenses from.
IamSMEofIndia Help Desk For the Income Declaration Scheme 2016
Contact us in full confidence!
For further Advice, seek your appointment with:
Mr. Sangeet Gupta, CA
Honorary Counsel, IamSMEofIndia
Plot No.66, Sector 27A, Faridabad- 121003
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