Thursday, February 17, 2011

Govt has a new plan: Pay 45% tax, move your black to white

This Budget, Finance Minister Pranab Mukherjee may announce a last and final call for all tax evaders who have stashed away black money here or abroad, to come clean after paying tax plus a penalty, collectively amounting to 45 per cent.

The Central Board of Direct Taxes has worked out an immunity — not amnesty — scheme where people can voluntarily disclose their hidden earnings without being prosecuted.

more at indianexpress 

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