June 23, 2024 14:40 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Shooting at a grocery store in USA leaves three people dead, 10 hurt | Sheikh Hasina, Narendra Modi engage in bilateral talks | As Chandrababu Naidu's new govt demolishes YSRCP office citing illegality, Jagan Reddy cries 'vendetta politics' | Centre notifies stringent anti-paper leak law amid exam mess, accused to face jail term, fine up to a crore | Maharashtra Congress chief Nana Patole alleges cracks on Atal Setu, BJP hits back
Anti-black money measures brought undisclosed income of about Rs 1.3 Lakh Crore to tax: FM Piyush Goyal

Anti-black money measures brought undisclosed income of about Rs 1.3 Lakh Crore to tax: FM Piyush Goyal

| @indiablooms | 01 Feb 2019, 11:31 am

New Delhi, Feb 1 (IBNS): The anti-black money measures taken by the Government during the last four and half years in the form of Black Money Law, the Fugitive Criminal Offenders Act, and Demonetisation, have brought undisclosed income of about Rs 1,30,000 crore to tax, said Finance Minister Piyush Goyal.

He said these measures have also led to seizure and attachment of assets worth approximately Rs 50,000 crore, and compelled holders of large cash currency to disclose their source of earnings.

While presenting the Interim Budget 2019-20 in Parliament today the Union Minister for Finance, Corporate Affairs, Railways & Coal, Piyush Goyal said, “Our Government is committed to eliminating the ills of black money from our country.”

During this period, Benami assets worth  Rs 6,900 crore and foreign assets worth Rs 1,600 crore have been attached. As many as 3,38,000 shell companies have been detected and de-registered, and their directors disqualified.

The Minister said that there is 18% growth in direct tax collection in 2017-18 and increase in tax base by as many as 1.06 crore people filing income tax returns for the first time in FY 2017-18 is mainly on account of demonetization.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.