Punjab Govt earned Rs 137 cr through OTS scheme

Chandigarh, July 3 Finance Minister Harpal Singh Cheema today said one-time settlement (Amendment) scheme (OTS-3) has emerged as one of the most successful financial mechanisms in the country. Cheema said the OTS-3 has generated Rs 137.66 crore in tax revenue,...

Tribune News Service

Updated At : 12:56 PM Jul 04, 2024 IST

Chandigarh, July 3

Finance Minister Harpal Singh Cheema today said one-time settlement (Amendment) scheme (OTS-3) has emerged as one of the most successful financial mechanisms in the country.

Cheema said the OTS-3 has generated Rs 137.66 crore in tax revenue, a substantial increase from the combined collection of Rs 13.15 crore from OTS-1 and OTS-2 implemented by previous governments.

“This achievement demonstrates efficacy of the scheme and the commitment of the Punjab Government under Chief Minister Bhagwant Mann’s leadership to foster a tax-compliant culture,” said Cheema. He added that the facility of submission of additional statutory declaration forms at the time of applying for OTS-3 reduced liability of dealers. “A total of 58,756 dealers have availed the benefits of OTS-3,” he said.

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