Black money worth Rs 4,900 crore was disclosed +NEW DELHI:by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, an official said on Thursday.A top official of the Income Tax Department said that the government has collected a tax of Rs 2,451 crore till now from these declarations. "21,000 people disclosed Rs 4,900 crore of black money under the PMGKY scheme that closed on March 31 this year. "Finance Minister Arun Jaitley had said that the PMGKY was preceded by similar schemes and hence the response to it by the public should not be seen in isolation. "Keep in mind that PMGKY in that financial year was not an isolated scheme. You first had the IDS, then you had people depositing cash in banking system knowing it would incur a tax liability and PMGKY was over and above that.

Source: Times of India September 07, 2017 13:30 UTC