Black Money worth Rs. 65250 disclosed: Arun Jaitley; Watch
Finance Minister Arun Jaitley speaks on in his press conference 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. Mr Jaitley said the figure will be revised upwards as the tax department is still processing some declarations.Under the scheme, launched on June 1, those who had evaded taxes were given the opportunity to avoid punishment by paying tax, penalty and cess totalling 45 per cent of the undisclosed income. This means that the government will get around Rs. 30,000 crore as tax revenue from the scheme.