Every credible info on black money enquired into: Government

NEW DELHI: The government on Friday said every credible black money-related information is looked into and action is being taken to tax unaccounted funds.

"Every credible information relating to black money is enquired into and appropriate action taken under law to bring the untaxed money to taxation. Prosecution proceedings are also launched in appropriate cases," Minister of State for Finance S S Palanimanickam said in a written reply to the Lok Sabha.

To deal with the menace of black money, the minister said the government has adopted a five-pronged strategy.

The steps comprised -- joining the global crusade against black money, creating an appropriate legislative framework and setting up institutions for dealing with illicit funds, developing systems for implementation and imparting skills to the manpower for effective action.