BENGALURU: If you are a technology or finance professional and purchased agricultural land for weekend hobby, then declare it before September 30. The Income Tax department is pulling out all stops to ensure citizens have declared their income. The last date to make submissions is September 30 under the income declaration scheme (IDS).
In the past four months, the department has convened at least 350 meetings with trade associations, sub-registrars, evaluators and professional bodies, among others, in this regard. A task force comprising the chief commissioner of income tax and two joint commissioners has been constituted to oversee the IDS compliance.
In the past few weeks, citizens have been queuing up to get their property evaluated by department-certified valuers.
“With the department asking taxpayers to declare investment in agriculture at a meeting held last week, evaluators told us that most queries were about assessing their agricultural land. It’s not just farmers who own land today. Assessees can go to the department-certified valuers for their property assessment. We will launch enforcement after September 30,” sources said.
Awareness drive across city
For better IDS compliance, the department has taken its awareness drive across the city -at malls, supermarkets and clubs, among other places. “Pamphlets have been distributed in trade hubs. In cinema halls, theatres run a 40-second IDS appeal before a movie starts. For the department, it’s the teamwork with citizens that ensures the IDS scheme is a success,” the sources said.
Credits ET Realty