Rush of black money declarants peaks before deadline

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.

The government had earlier announced that the 90-day window will close on September 30 and any extension was ruled out.

The office located in the heart of the national capital, not far away the tony Connaught Place, saw hectic activity with people bringing with piles of documents to comply with the declaration window under the new anti-Black Money Act.

Amongst the early morning visitors were a father-son duo from Delhi and a businessman dealing in motor parts.