Mann Ki Baat: Declare undisclosed assets by September 30, says Modi

The IT Department announced the scheme, which gives opportunity to citizens to declare their undisclosed assets before Sept 30.

New Delhi:

Addressing the issue of black money, Prime Minister Modi on Sunday urged the citizens to declare their undisclosed assets before September 30 and become part of a transparent scheme.

"In a country of 1.25 billion there are only 1.5 lakh people whose taxable income is more than 50 lakh," said Prime Minister Modi while addressing the nation in the 21st edition of his 'Mann ki Baat' programme.

"The government has come out with a scheme to declare undisclosed income before September 30. By paying a penalty, we can free ourselves of several burdens," he added.

Prime Minister Modi appealed to the people to take this opportunity and become a part of this transparent scheme, which is available only till September 30. "Consider this as one last chance," he said.

The Income Tax Department announced the Income Declaration Scheme 2016, which gives the opportunity to citizens to declare their undisclosed assets before the said date.

The Income Declaration Scheme 2016, which came into effect from June 1, 2016, is an opportunity for those who didn't disclose income or pay taxes thereon in the past.

The BJP-led NDA regime at the Centre has declared September 30 as the last date for making a declaration and November 30 as the date by which the tax, surcharge and penalty may be paid.

During his address, the Prime Minister also lauded retired government employee Chandrakant Kulkarni for donating one-third of his pension to the Swachh Bharat Kosh.