Black money worth Rs. 65,250 crore disclosed under Income Declaration Scheme : Arun Jaitley
The four-month window which was launched on June 1 for tax evaders to come clean on black money, ended on Friday.
Jaitley said the figure will go up further some declarations as some declarations are still under process.
Under the scheme, 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.
The disclosure, made so far, is expected to fetch the Government around Rs 30,000 crore as tax revenue.
The payments have to be made in three instalments till September 2017.
To encourage people to declare their undisclosed income, the government promised not to share with any other law enforcement agency the information contained in the declaration.
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