Budget 2019 out-of-the-box idea: Modi govt should modify the regime for voluntary disclosure of black money – Financial Express

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  • Last Updated on 28 October, 2020
By Srinivasan Anand.G – The author is Sr.Consultant, M/s Taxmann Publications Pvt Ltd. 
Budget 2019: There were reports in various newspapers that the Central government requires 10 Lakh crore rupees for Bharatmala project . Also the Modi government has an ambitious plan to invest 100 Lakh crores of rupees in infrastructure and 25Lakh crores of rupees in agriculture over the next five years. To mobilise resources for these ambitious programs, the central government must be creative and think out of the box. One area where this will pay rich dividends is modifying the regime for voluntary disclosure of black money in ITRs contained in section 115BBE of the Income Tax Act,1961.
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