Assets worth Rs 65,250 cr declared by people under Income Tax Disclosure Scheme

New Delhi: Finance Minister Arun Jaitley today stated that assets worth Rs 65,250 crore have been declared by 64,275 people under the latest Income Tax Disclosure Scheme.

He further went on to say that there is scope for some marginal upward revision once the full tabulation is completed.

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“So this (declarations) could be revised upward once the full tabulation takes place,” Jaitley said, adding that the money collected would go into the Consolidated Fund of India and will be used for social security purposes.

“Roughly, the declarations work out to Rs 1 crore per declarant. Some will be higher, some will be lower,” he said, but ruled out any revelation of the names of the people who have availed of the scheme.

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“We won’t give any specific information on tax declarants.”