Black Money Government collects Rs 3,770 crore only who fears
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (the Act) has been enacted to deal with the menace of black money stashed abroad.
"The Act also provided for a compliance window for a limited period to persons who have undisclosed foreign assets which they had not disclosed for the purposes of Income-tax so far
The compliance window opened on July 1, 2015 and was till September 30, 2015.
In a statement Finance Ministry said that "638 number of declarations have been received under the compliance window declaring undisclosed foreign assets amounting to Rs 3770 crore. These figures are subject to final reconciliation,"
Thus government collected only Rs. 3770 Crore.
This clearly shows that majority Indians who got the black money, do not fear the income tax department of India or any other investigative agency.
Do you think the people who got the black money already paid the bribes to corrupt government officials, thus they did not declare their black money hidden in India or abroad.
Now it is going to be a big challenge for BJP Government to find and book the Indian citizens who are hiding their black money in India or abroad
To send them jail
Can you guess how many Indians will go to jail under this new black money law.
For me not a single Indian will go to Jail under this new black money law.
Reality views by sm –
Thursday, October 1, 2015
Tags – Black Money India