Tax from IDS will cushion spectrum bid shortfall: Jaitley
Tax collected from the Income Disclosure Scheme (IDS) will help cushion the revenue shortfall from the telecom spectrum sale, Finance Minister Arun Jaitley has said. The spectrum auction fetched the Centre ₹65,789 crore against a potential of ₹5.6 lakh crore. Meanwhile, the disclosure scheme yielded the government ₹29,362 crore in taxes, as undisclosed assets worth ₹65,250 crore were recovered.