The latest Income Declaration Scheme has drawn 64,275 people to declare black money amounting to Rs 65,250 crore. How does it compare with previous such schemes? Highlights compiled from various sources:
- The Voluntary Disclosure Scheme of 1951 resulted in disclosure of Rs 70 crore and a collection of Rs 11 crore worth of taxes.
- The Voluntary Disclosure Scheme of 1965 resulted in disclosure of Rs 52.11 crore and collection of Rs 29 crore worth of taxes.
- The Voluntary Disclosure Scheme of 1975 resulted in disclosure of Rs 738 crore and collection of Rs 241 crore worth of taxes.
- The Voluntary Disclosure Scheme of 1997 resulted in disclosure of Rs 33,000 crore and collection of Rs 9,760 crore worth of taxes.
-- The Income Declaration Scheme of 2016, thus far, has resulted in disclosure of Rs 65,250 crore and potential collection of a little under Rs 30,000 crore.
Also Read
--IANS
rv/ap/ask/bg
Disclaimer: No Business Standard Journalist was involved in creation of this content