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Final black money tally may go up by Rs. 10,000 cr

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The final tally of disclosure might be Rs. 10,000 crore more than reported so far under the recently concluded scheme in this regard for hitherto undisclosed money, tax officials said.
“The total figures could go well beyond Rs. 75,000 crore. A final report will be submitted by the Central Board of Direct Taxes ( CBDT) by next week,” an official said.
Devaraj Reddy, president of The Institute of Chartered Accountants of India, said at least Rs. 71,000 crore was declared under that Income Declaration Scheme ( IDS).
Finance Minister Arun Jaitley had given a figure of Rs. 65,250 crore but said this was provisional. As many as 64,275 declarants disclosed black money but this figure could be revised upward, he had said.
Central Board of Direct Taxes head Rani Singh Nair met regional heads on Tuesday and sources said IDS and its aftermath were discussed.
Business Standard New Delhi,05th August 2016

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