Every info on blackmoney enquired into: Govt

The government Friday said every credible black money-related information is looked into and action is being taken to tax unaccounted funds.

Updated: Aug 26, 2011, 23:40 PM IST

New Delhi: The government Friday said every
credible black money-related information is looked into and action is being taken to tax unaccounted funds.

"Every credible information relating to black money is
enquired into and appropriate action taken under law to bring
the untaxed money to taxation. Prosecution proceedings are
also launched in appropriate cases," Minister of State for
Finance S S Palanimanickam said in a written reply to the Lok
Sabha.
To deal with the menace of black money, the minister said
the government has adopted a five-pronged strategy.

The steps comprised -- joining the global crusade against
black money, creating an appropriate legislative framework and
setting up institutions for dealing with illicit funds,
developing systems for implementation and imparting skills to
the manpower for effective action.

PTI