The Govt has taken a hidden initiative to recover black money.
KVP (Kisan Vikas Patra) are available now in cash & even without any documents of identity. Thus many blackmoney holders will put their money into this. And when it comes to redemption, the amount is paid only by way of cheque.
Thus, people will unknowingly be declaring their black money & then Income Tax cases will start against them at the time of redemption, that is approx after 6-7 years.
KVP (Kisan Vikas Patra) are available now in cash & even without any documents of identity. Thus many blackmoney holders will put their money into this. And when it comes to redemption, the amount is paid only by way of cheque.
Thus, people will unknowingly be declaring their black money & then Income Tax cases will start against them at the time of redemption, that is approx after 6-7 years.
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