India Adjusts Payment Deadlines for Income Declaration Scheme 2016

On 14 July 2016, India's Central Board of Direct Taxes announced that the government has decided to adjust the payment deadline for the Income Declaration Scheme 2016 from full payment by 30 November 2016, to three installments as follows:

• A minimum amount of 25% of the tax, surcharge and penalty to be paid by 30 November 2016;
• A further amount of 25% of the tax, surcharge and penalty to be paid by 31 March 2017; and
• The balance amount to be paid on or before 30 September 2017.

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