The Government of India has created an email id for tip-offs on black money hoarders. The people of India can send / email the block money details to blackmoneyinfo@incometax.gov.in which will be monitored by a special cell. The cell will take immediate action of the tip-offs they receive about black money.
The government has set up an email address where people can send in information of those hoarding black money to the tax authorities. The Government has also clarified that the amount deposited in banks does not mean it’s white, unless tax is paid on the amount.
People can give information about those trying to convert their black money into white through the email id. The Government has also opened a tax disclosure scheme on 17th December 2016 which will attract 50 percent tax and additional penalty on black money.
The disclosures will be considered under the scheme PM Garib Kalyan Yojana (PMGKY) where the gathered amount will be used for the welfare of the people. The government is also proposed to keep the declarations made under the new money disclosure scheme confidential.
The Government has made it clear that the declarations under new black money disclosure scheme to be kept confidential and information will not be used for prosecution. The people who disclose black money under this scheme will have to be shown to avail disclosure scheme benefits including immunity from prosecution.