Income declaration scheme nets Rs 65,250 crore

Income declaration scheme nets Rs 65,250 crore

New Delhi: Indian Finance Minister Arun Jaitley said on Saturday that Rs 65,250 crore in black or untaxed money has been disclosed by 64,275 declarants under the centre’s Income Declaration Scheme so far. The four-month window for tax evaders to come clean on black money had ended on Friday.
Jaitley said the figure will be revised upwards as the tax department is still processing some declarations.
“Roughly, the declarations work out to Rs 1 crore per declarant. Some will be higher, some will be lower,” he said, but ruled out any revelation of the names of the people who have availed of the scheme.
“We will maintain secrecy of these declarations,”  Jaitley said. He said the tax would accrue to the Consolidated Fund of India and would be used for welfare of public.
Prime Minister Narendra Modi complimented Jaitley and his team at the Finance Ministry for the “hard work” resulting in the successful outcome of Income Declaration Scheme-2016.

—Agencies

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