Black money declaration may cross Rs 25,000 cr: Taxsutra

With less than four days left for the latest Income Declaration Scheme to come to an end, people privy to the tax department say that black money hoarders have made a bee-line to come clean, especially over the last one week.

Speaking to CNBC-TV18 on the sidelines of International Tax Convention in Madrid Taxsutra's Arun Anandgiri, and noted tax expert TP Ostwal said the Income Declaration Scheme (IDS) has seen a sharp uptick in the last week.

Anandagiri said income declared under the scheme is likely to exceed Rs 25,000-30,000 crore. The CBDT also expects the surge to continue in the last week.

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