The central government on Friday said that people who have any information about people trying to convert their black money must email the information to an email id provided to them. However, the Revenue Secretary Hasmukh Adhia asserted that if the bank accounts are owned by political parties they would be exempt from tax.
The Revenue Secretary affirmed that if a deposit is made into the political parties there would no tax but they would like to scrutinise the accounts and deposits made to any individual’s account.
“If it is a deposit in the account of any political party, they are exempt. But if it is deposited in individual’s account then that information will come into our radar. We will get information if an individual is depositing money in their own account,” Revenue Secretary said while addressing a press conference.
However, he further affirmed that the parties will have to maintain records and should be able to explain the donations received.
While asserting that the people must provide the information they received about black holders, Revenue Secretary Hasmukh Adhia said, “People should send any information they have about black money holders to firstname.lastname@example.org.”
He said that people must understand that if people have deposited their money in banks it does not in any way mean that the unaccounted income has turned to “white” money.
The government also said that unaccounted income can still be disclosed under PM Garib Kalyan Yojana starting tomorrow until 31st March. Also, the declarations under new black money disclosure scheme to be kept absolutely confidential.
The government reiterated saying that people who fail to disclose their unaccounted income will charged 77 per cent and up to 100 per cent in tax by the end of March 2017.
The government’s move to urge people to give information about black money reminds us of Delhi Chief Minister Arvind Kejriwal’s move when asked people to record videos of officials and policemen asking them for bribe and contact the anti-graft helpline started by his government.