Circular no. 15/2019, dated 12-07-2019

Under the Income Declaration Scheme, 2016 (IDS), declarants were required to pay their determined liability towards tax, surcharge and penalty pertaining to the third instalment as per the Form-2 issued by the Pr. CIT/CIT, by 30th September, 2017.

In this regard, several references have been filed by the stakeholders with the Central Board of Direct Taxes (CBDT) regarding difficulties faced by the declarants while effecting payment of third instalment of IDS around 30th September, 2017 due to closure of banks on account of holidays due to which they couldn’t effect payment of third instalment within the stipulated time.

Considering the difficulties faced by the declarants, the CBDT has directed that all payments made/effective on October 3, 2017 shall be deemed to have been paid by due dates for the third instalment i.e. 30th September, 2017. Further, the payments effected through cheque/RTGS/electronic transfer by the declarant by 03-10-2017 which were credited by the banks till 05-10-2017 shall be deemed to have been paid by 30th September, 2017. In this regard, the concerned Pr. CIT/CIT shall furnish a report to the Pr. DGIT (Systems) after necessary verification; to treat such payments to have been paid by the due date for the third installment, i.e., 30th September, 2017.