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‘Countdown’ begun, IT dept warns black money holders

black money holders

New Delhi: The income tax department on Friday warned black money holders that it has “information” about their illegal deposits and they should avail the soon-to-end Pradhan Mantri Garib Kalyan Yojna (PMGKY) window to come clean.

The department said that the “countdown” in this regard has begun and stash holders should declare their black money “or regret later”.

The window under the scheme closes on March 31.

It had recently also cautioned stash holders to avail the scheme or face stringent action under Benami laws, adding that the defaulters’ names will also be shared with the central probe agencies like the Enforcement Directorate and the CBI.

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