New Delhi: The Centre on government on Friday said tax evaders have time until end-March 2017 to come clean under a scheme unveiled by Finance Minister Arun Jaitley last month.
Revenue Secretary Hasmukh Adhia told reporters that those who fail to declare their untaxed income under the scheme will have to pay minimum 50% tax and penalty.
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Declarations under new this scheme will be kept confidential and information won't be used for prosecution, Adhia said.
A new email ID has also been created for people to give information on black money to tax authorities, Adhia said.
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