Rush of black money declarants peak before deadline

NEW DELHI: The rush of black money declarants peaked at the Income Tax office here as the deadline for disclosure of wealth stashed abroad expired tonight but there was no indication about the quantum of money that has come into the taxman's net.

A stream of declarants, including from far off places like Rajasthan and Karnataka, walked into the only designated office here to make declarations before the closure of the one-time black money 'compliance window'.

Long queues were seen throughout the day of people, mainly those who appeared to be Chartered Accountants or representatives of those who have undisclosed money and wealth abroad.

A top official disclosed that about 100 people made use of the compliance window till evening today. He said a businessman from Jaipur has declared assets to the tune of Rs 41 lakh.

"A huge number of declarations are expected to be made through the official e-filing website of the Income Tax department," he said.

With the 'compliance window' closing today, the Central Board of Direct Taxes ( CBDT), the apex policy-making body of the I-T department, had recently asked its officials to ensure that interested entities should be provided all help by them to make their declarations in this regard.