Govt asks black money holders to make honest declarations
The Income Tax department has urged black money holders to make “honest” disclosures under the tax amnesty scheme, Pradhan Mantri Garib Kalyan Yojana. In advertisements in leading dailies, the department said “like fingerprints, your black money will lead us to you”. It further warned that non-declaration of such income will be liable to tax, surcharge, and cess at 77.25%.