Depositing black money in banks won't make it white: Jaitley
Depositing unaccounted money into bank accounts won’t make it ‘white’, Finance Minister Arun Jaitley said on Saturday. “By just depositing it (unaccounted money), you don’t avoid the responsibility of paying tax,” Jaitley said while commenting on the surge in deposits following demonetisation. Further, the Income Tax department is keeping a keen eye on deposits, he added.