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Businessman declares Rs 13,000 crore under disclosure scheme, fails to pay tax
A businessman who voluntarily disclosed unaccounted income of a whopping Rs 13,000 crore is now under the scanner for what seems to be a silly slip - he forgot to pay the tax on the unaccounted income. Mahesh Shah had voluntarily declared Rs 13,000 crore as unaccounted income under the Centre's Income Declaration Scheme (IDS) on September 30, the very last day of the scheme. The IDS offered immunity to those who declared their unaccounted income once they paid the tax.
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