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Hyderabad leads in Black Money declarations
By: Tupaki Desk | 3 Oct 2016 5:47 AM GMT
Not business capital Mumbai and national capital Delhi, but Hyderabad topped the table with highest black money disclosures under Income Declaration Scheme (IDS). While Hyderabad posted a staggering Rs 13,000 crore, Mumbai and Delhi managed Rs 8,000 crore each.
Telugu States have collectively contributed around Rs 19,000 crore, which is close to 30% of total disclosures (Rs 65,250 crore).
Least Disclosures: Northeast: Rs 1,000 crore, Odisha: Less than Rs 500 crore, Kerala: Less than Rs 500 crore.
Government of India launched Income Declaration Scheme on June 1st allowing people to declared unaccounted money and pay 45% tax to avoid prosecution. Out of total disclosures under IDS, Around Rs 30,000 crore is likely to be translated into tax collection and Centre will receive Rs 15,000 crore out of it by the end of financial year 2016-17.
Telugu States have collectively contributed around Rs 19,000 crore, which is close to 30% of total disclosures (Rs 65,250 crore).
Least Disclosures: Northeast: Rs 1,000 crore, Odisha: Less than Rs 500 crore, Kerala: Less than Rs 500 crore.
Government of India launched Income Declaration Scheme on June 1st allowing people to declared unaccounted money and pay 45% tax to avoid prosecution. Out of total disclosures under IDS, Around Rs 30,000 crore is likely to be translated into tax collection and Centre will receive Rs 15,000 crore out of it by the end of financial year 2016-17.
