FinanceVOLUN
Voluntary Disclosure of Income Scheme (VDIS)
A historical tax amnesty scheme introduced in 1997 allowing tax defaulters to declare undisclosed income at prevailing tax rates and obtain immunity from prosecution.
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Official fee
₹0 — completely free
No processing fees were charged for filing VDIS declarations at designated commissioner offices.
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All tax liabilities under the scheme were settled only through authorized challan deposits in nationalized banks. Beware of fake advisors demanding commission shares.
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Highlights and Media
Key Highlights
Defaulter Amnesty
Provided a unique amnesty opportunity to voluntarily declare wealth and become tax-compliant.
Absolute Confidentiality
Guaranteed that details of disclosures would not be shared or audited subsequently.
Legal Immunity
Provided complete protection from prosecution under FERA, Income Tax, and Companies Acts.
VDIS Amnesty Tax Rates
Tax rates charged on the declared value of undisclosed assets
Individual Declarants
30% Tax RateStandard rate applied to individual taxpayers and unregistered partnerships.
Corporate Entities
35% Tax RateTax rate applicable to registered companies and corporate firms.
Who is eligible
- Eligible taxpayer or business entity with undisclosed assets who participated during the active window.
Eligibility rules · v1 · effective 1 January 2020
Who is not eligible
- This historical scheme is closed. Compliance is validated for previously registered declarations.
How to apply
Submission of VDIS Form-1
Submit VDIS Form-1 detailing undisclosed assets or income to the Commissioner of Income Tax.
Typical duration · 10 days
Tax Settlement Payment
Deposit the prescribed taxes (30% for individuals, 35% for corporates) through authorized bank challans.
Typical duration · 15 days
Certificate of Disclosure
Receive the official certificate of disclosure from the Income Tax department, confirming legal immunity.
Typical duration · 15 days
Sources
- Income Tax Department, Government of IndiaMINISTRY_PORTAL · Fetched 5 July 2026
Additional Details
The Voluntary Disclosure of Income Scheme (VDIS) was a highly successful, one-time central tax amnesty scheme launched by the Government of India in 1997 under the Ministry of Finance. Running until December 31, 1997, the scheme provided an opportunity to individuals and companies to disclose their undisclosed income or assets at prevailing tax rates (30% for individuals, 35% for corporates). VDIS granted full immunity to participants from prosecution under the Foreign Exchange Regulation Act (FERA), Income Tax Act, Wealth Tax Act, and Companies Act. Over 350,000 citizens participated, bringing hidden wealth back into the official banking system and generating substantial revenues for public welfare projects.