Finance Minister Arun Jaitley has said on Saturday that as much as Rs 65,250 crore of blackmoney was declared during the Income Declaration Scheme, which ended on September 30.
In this for-month window around 64,275 declarations were made and this figure could go up once all the declarations filed online and manually are compiled, said Jaitley.
45% of the declared money, which totals Rs 65,250, would accrue to the government as tax and penalty.
The tax collected from the scheme will go into the Consolidated Fund of India and will be used for larger welfare of people, added the Finance Minister.
Under the Income Declaration Scheme the government had provided illegal income and asset holders a one-time opportunity to come clean by declaring their blackmoney under the four-month window and pay 45% tax and penalty.
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