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More than Rs 65,250 cr black money disclosed under Income Disclosure Scheme

This article was posted on Oct 1, 2016 and is filed under Market News

The direct tax department has received disclosures worth Rs 65,250 crore in the four-month long domestic black money Income Declaration Scheme, Finance Minister Arun Jaitley said on Saturday.

Speaking at a press conference to mark the end of the schemes, Jaitley cautioned that this was a tentative amount and will be revised upwards since not all of the manual and online declarations had yet been verified.

“Under this scheme, which I have repeatedly said is not an amnesty scheme, there have been some 64,275 declarants who have declared Rs 65,250 crore worth of previously undisclosed income,” Jaitley said.

Business Standard was the only publication to earlier report that the government had received disclosures of more than Rs 65,000 crore.

For more visit: Business-Standard

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