Rs 224 crore black money declared by 611 declarants in J&K

Jammu: Income Tax Department has obtained more than Rs 224 crore unidentified income disclosed by 611 declarants in the state under the Income Declaration Scheme, which came to an end on September 30.

Sources in Income Tax department  said that J&K’s performance in announcing undeclared or black money during the special scheme period has remained on top among the other Income Tax zones of Himachal Pradesh and Punjab, which come under North West Region controlled from Chandigarh.

Sources further said J&K is also ahead on achieving routine tax collection targets.

Total amount of income declared under the scheme by the assesses from the State stood at Rs 224.52 crore from 611 declarations made. This figure may further increase after the addition of declarations and amount declared directly to CPC, Bangalore, which was also an authorized authority for direct declarations to maintain complete confidentiality.

“The credit goes to all the stake holders including the Assesses of the State, Tax Professionals Chartered Accountants, Advocates, Jewellers Associations and Various Trade/Beopar Mandals bodies of all the stations of the State who in spite of the unrest in the state for the last more than three months extended their full cooperation for the scheme,” said Principal Commissioner of Income Tax J&K Sangeeta Gupta.


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