Black Money – Domestic and International Efforts

Government tries to calm fears of black money holders

  1. Govt has sought to assure that it would not harass those who came forward with their undeclared income
  2. The compliance window is open for people with undisclosed income to legitimise it by paying 45% tax, between June 1 and September 30
  3. Any declaration made under the Income Declaration Scheme 2016 would be protected, and that information would not be shared

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