No immunity to those earning money via graft: FinMin

New Delhi: Persons who have earned money through corrupt practices cannot take advantage of the domestic black money disclosure scheme, says the finance ministry’s FAQ on Income Declaration Scheme issued on Friday.
The four-month window which opens on June 1 provides an opportunity to people having undisclosed income to come clean by paying tax, penalty and surcharge totalling 45 per cent of fair market value.
The 14-frequently asked questions (FAQs) further said declarations made will remain confidential as in the case of return of income filed by an assessee.
The declarant, it further said, will be liable for capital gains tax on sale of such assets in future.