The Finance Act, 1997 has introduced a new Scheme called "The Voluntary Disclosure of Income Scheme, 1997", popularly known as "VDIS 97" through its sections 62 to 78. The Scheme is operative from 1-7-1997 to 31-12-1997. It is one of the most attractive Voluntary Disclosure or Amnesty Schemes ever since the Income-tax Act, 1961 came into force. The sections referred to in this article pertain to the Finance Act, 1997. We are giving herein below the salient features of the VDIS 97 Who can make a Voluntary Disclosure? As per Section 64 (1) any person can make a declaration about the undisclosed or undeclared income, pay tax and enjoy the various tax immunities under the scheme. Thus, individuals, Hindu undivided families, firms, companies, trusts and other tax-payers including ladies and minors can make a disclosure under the VDIS 97. Besides, there is no distinction between a resident and a non-resident in the matter of making a ....