Signalling his government’s tough line on domestic black money, Prime Minister Narendra Modi has told party leaders his government would spare no one with black money once the compliance window shuts on 30 September. “Our government has announced a scheme, giving an opportunity to people to declare black money by September 30. Under this scheme, the government gave an opportunity to domestic black money holders to come clean. Action against black money is a poll promise for him.”The Centre had notified a one-time disclosure window under the Income Declaration Scheme 2016 to declare black money that opened on June 1. The law to deal with undisclosed income kept in foreign banks had yielded about Rs 4,000 crore and the government had now turned its focus on domestic black money.

Source: Hindustan Times June 14, 2016 18:56 UTC