Zee Media Bureau
New Delhi: With a the government of India opening a limited four-month income declaration window from June 1, Finance Minister Arun Jaitley has given tip on how to 'sleep well' using the opportunity.
The government will open a four-month window for declaring domestic black money June 1 till September 30 and ask all tax evaders to come by paying 45 percent tax and penalty or face the consequences of being subject to scrutiny and enquiry by tax department.
Finance Minister Arun Jaitley on Monday warned black money of “serious trouble” if they fail to come clean during the said period.
He warned that people with undisclosed assets should use the limited period income declaration window, beginning Wednesday, if they want to "sleep well".
"Starting from day after tomorrow, the new window opens and I will advise all those who have any undisclosed asset to declare it and pay the tax and sleep well. Otherwise, the way the disclosures are becoming more and more public, they will run into serious trouble," Jaitley told PTI in an interview.
He further warned of sleepless nights for those who failed to declare their assets.
"When the black money law with regard to foreign assets was passed, I had said please declare and sleep well. Now, those who didn't declare and their names have become public, either in Panama Papers or otherwise, I think they are now having sleepless nights," he said.
With PTI Inputs