Black money disclosure News
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Andhra Pradesh Chief Minister N Chandrababu Naidu has claimed that out of the Rs 13,000 crore of black money declared in Hyderabad under a recent scheme, Rs 10,000 crore belonged to a single individual, in apparent hints towards his political rivals.
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Income Tax Department Monday said "strict confidentiality" will be maintained about the identity of persons who have disclosed black money during the 4-month window under the Income Declaration Scheme (IDS).
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The chief of SIT on black money feels it will be "difficult" for those holding untaxed assets to avoid disclosure under the ongoing one-time compliance window opened by the government after the limited success of a similar scheme launched last year for those with tainted money overseas.
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