October 3, 2015 1:41 PM

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Government warns those who failed to take advantage of one time compliance window on Black Money declarations

The Government has warned those who failed to take advantage of one-time compliance window on Black Money. Economic Affairs Secretary Shaktikanta Das said that those who did not declare undisclosed foreign assets would regret their decision. In a tweet, Mr. Das said, agreements on information sharing will allow the government to track down those who did not come clean. <br/><br/>He was referring to new treaties under which countries will give each other access to financial information making it difficult for anyone to conceal income in tax havens and other jurisdictions. Mr. Das said, fight against black money is a part of economic reforms as the government cannot allow ghost economy to undermine real economy and growth.

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