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INDIAN AFFAIRS
BLACK MONEY AMNESTY SCHEME NETS RS 4,164 CRORE
January 7, 2016
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1.The Union government has received 644 declarations for black money worth Rs. 4,164 crore under one-time, come-clean compliance window provided to evaders under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, the Central Board of Direct Taxes (CBDT) said on Wednesday.

2.In his Independence Day address in August 2015, Prime Minister Narendra Modi had said Rs. 6,500 crore had been disclosed under the window.

3.The final CBDT figure falls short of the figure Mr. Modi had cited. The government has also earned Rs 2,428.4 crore by way tax and penalty on the declared sums.

4.The last date for making declarations under the three-month window was September 30, 2015. The declarants were liable to pay tax at the rate of 30 per cent.