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Govt. to come down heavily on those who have not declared ‘black money’ yet

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New Delhi: The Government has issued a warning to those who have not declared black money yet, saying that they will ‘regret’ their decision and face the full power of the Centre under the new laws.

“Those who did not declare have underestimated the power of information exchange and will regret. Fight against black money is a part of economic reforms. As a country we can’t allow ghost economy to undermine real economy and growth,” Economic Affairs Secretary Shaktikanta Das tweeted on Friday.

Das’s tweets referred to the new treaties under which countries will give each other access to financial information making it difficult for anyone to cover up income in tax havens and other jurisdictions. (ANI)