NEW DELHI: Offering black money holders one last chance to come clean, Finance Minister Arun Jaitley today said information on assets disclosed during the one-time compliance window will not be shared with any other authority.
Jaitley, who met industry chambers, CAs and tax professionals to clear any misgivings about the four-month compliance window provided to domestic black money holders to pay their taxes and escape harsher penalties, said there will be no extension of the scheme.
“People who have (undisclosed) income and have stayed outside the income tax net, this is the last chance to declare them and sleep peacefully,” he told reporters after the meet.
Black money holders who do not avail of the Government’s offer and continue to hide wealth will be shown “consequences” of doing so, he said.
“There is a… (new black money law) and whosoever comes within its purview will be told about consequences (of holding black money),” he said.
The minister said any declaration made under the law will be protected. “That information is not to be shared with any other authority. It won’t be made public, it won’t be shared with anybody.” (AGENCIES)
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