IDS disclosure crosses 580 crore in Surat

SURAT: The income tax (I-T) department of Surat received a record Rs 200 crore worth of disclosure under Income Declaration Scheme (IDS) on Friday.
Official sources said a real estate developer in the city declared Rs 152 crore in the last two days under the IDS, followed by Rs 50 crore disclosure by other realtors and a textile firm. Till now, disclosures worth Rs 580 crore under the IDS scheme has been made to the I-T department in Surat.Around 95 per cent of the disclosures has come from real estate developers. The maximum disclosure of Rs152 crore has been made by a realtor from Athwalines.
Tax authorities plan to seek details from various entities against whom there is specific information about undisclosed assets. The tax authorities will be sending e-mails to the entities against whom they have information. The entities have an opportunity to declare their ill-gotten wealth before September 30. "We are targeting maximum disclosures under the IDS," a senior I-T officer said.
The I-T office will function till late night on September 30. Those who want to disclose their benami income can come to the I-T office at Majura Gate, sources said.