Business Standard

New law to track black money: Jaitley

Says there will be rigorous imprisonment of 10 years under black money law

<a href="http://www.shutterstock.com/pic-197605076/stock-photo-a-man-wearing-a-black-suit-holding-a-burlap-money-bag.html" target="_blank">Image</a> via Shutterstock

IANS New Delhi

Finance Minister Arun Jaitley Saturday said the government was committed to tracing black money stashed abroad and a comprehensive new law will be framed to track it.

"On black money, a new structure including e-filing and tracking down is our abiding commitment," Jaitley said in his budget speech.
Read our full coverage on Union Budget

He said a "comprehensive new law to track black money" would be framed.

He also said there will be rigorous imprisonment of 10 years under black money law.

The finance minister said a benami property transaction bill will be brought to tackle black money transactions in real estate.

 

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First Published: Feb 28 2015 | 1:06 PM IST

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