Govt mulling to check misuse of black money amnesty window

Zee Media Bureau

New Delhi: Anticipating that tax offenders who are already under the radar of the concerned authorities may use the domestic black money amnesty window proposal offered in the recently tabled budget document as an easy escape route, government is ensuring proper regulatory measures are put in place.

As per ET report, National Democratic Alliance (NDA) government is planning to lay down certain stringent conditions for the same. The report further adds that those cases which are already under scanner will not be qualified to avail the benefits.

The ET report clearly states that that a notice has already been issued by the taxmen stating that those cases where any kind of proceeding is still pending will not be eligible to access the window.

In addition, if the tax authorities have any kind of prior information about the claimant from another country under tax information-exchange treaties.

Even those cases falling under the Narcotic Drugs & Psychotropic Substances Act will also not be eligible.