Modi's stern warning to tax evaders: Comply by Sept 30 or get ready to face harsh measures

Sternly warning the tax offenders in the radio programme man ki bat on Sunday, Prime Minister Narendra Modi said that government will crack down on black money offenders who fail to come clean during the June- September compliance window which ends on September 30.

Last Updated: Jun 26, 2016, 13:20 PM IST
Modi's stern warning to tax evaders: Comply by Sept 30 or get ready to face harsh measures

Zee Media Bureau

New Delhi: Sternly warning the tax offenders in the radio programme Man Ki Baat on Sunday, Prime Minister Narendra Modi said that government will crack down on black money offenders who fail to come clean during the June- September compliance window which ends on September 30.

"...those who have undeclared income, the Indian government has offered them a a chance to declare their undisclosed income. The government has given a compliance window  till September 30 to declare the undisclosed income. ...the government also announced that those who voluntarily declared their undeclared income, the government will not conduct any investigation on the source of income...", said PM Modi during Man Ki Baat.

"Let me tell the countrymen that this chance is till September 30. Consider this as the last chance," the Prime Minister asserted during the programme.

He said he has told BJP MPs that if anybody faces any problem after September 30 for not abiding by the rules, no help should be provided to them.

"It will be better that you take advantage of the window provided and save yourself from the difficulties that you can face after September 30," he said.

Presenting the Budget 2016-17 in Parliament, the Finance Minister Arun Jaitley had announced that to give an opportunity to earlier non-compliant to move to the category of compliant, he proposes a limited period compliance window for domestic tax payers to declare undisclosed income represented in any form of assets.

He said that one can clear up the past undisclosed income by paying tax at 30 percent, a surcharge at 7.5 percent, a penalty at 7.5 percent which is total of 45 percent of undisclosed income.

The government opened the compliance window under the Income Tax Disclosure Scheme from June 1 to September 30, 2016 with option to pay amount due within 2 months of declaration.