Union Finance Minister Arun Jaitley has said that people with black money needed to legitimise it and for that 30 September was the last date.
He said, “The compliance window is open for people with undisclosed income to legitimise it by paying 45% tax between 1 June – 30 September. Any declaration made under this law(Income Declaration Scheme ’16) is protected, that information won’t be shared with any other authority.”
This comes a day after Prime Minister Narendra said that his government was in the midst of devising stringent laws to tackle the menace of black money in the country.