New law to track black money: Jaitley
Says there will be rigorous imprisonment of 10 years under black money law
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Finance Minister Arun Jaitley Saturday said the government was committed to tracing black money stashed abroad and a comprehensive new law will be framed to track it.
"On black money, a new structure including e-filing and tracking down is our abiding commitment," Jaitley said in his budget speech.
Read our full coverage on Union Budget
He said a "comprehensive new law to track black money" would be framed.
He also said there will be rigorous imprisonment of 10 years under black money law.
The finance minister said a benami property transaction bill will be brought to tackle black money transactions in real estate.
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First Published: Feb 28 2015 | 1:06 PM IST