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Catch Black Money And Be A Crorepathi

IndianMoney.com Research Team | Updated On Wednesday, August 01,2018, 05:55 PM

3.9 / 5 based on 9 User Reviews

Catch Black Money And Be A Crorepathi

 

 

 

Who doesn’t want to be a Crorepathi? Prime Minister Narendra Modi gives you a unique opportunity to earn Rs 5 Crores in just 6 months. Yes, a Crorepathi in no time at all. What must you do to earn Rs 5 Crores in just 6 months? Well, just help the income tax department catch black money and be a Crorepathi. This reward will be given to you by the Central Board of Direct Taxes popularly called CBDT. The prize money is Rs 5 Crores.

To earn Rs 5 Crores, you must give specific information to the Income Tax Department to help them catch a tax evader or a black money holder. But there’s a catch…False information could get you in serious trouble….

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Catch Black Money And Be A Crorepathi

 

The Government had announced the Income-Tax Informants Reward Scheme 2018 popularly called ITI Reward Scheme 2018. You (Informant) will have to provide information on undisclosed income or assets of tax evaders or black money holders under Black Money Act, 2015 or Imposition of Tax Act, 2015 to enjoy the reward.

You can also get a reward under the ‘Benami Transactions Informants Reward Scheme 2018’ which regulates the granting/payment of this reward for specific information on benami properties or their holders.

See Also: Black Money Crackdown To Know About Benami Property

1. Catch black money and earn a reward?

 

You can earn a massive reward up to Rs 5 Crores, if you or a group of people give specific information on tax evasion. You get this reward under the ITI reward scheme 2018. You can also earn Rs 1 Crore under the Benami Transactions Informants Reward Scheme 2018 (BTI Reward Scheme 2018) up to Rs 1 Crore.

Do remember that even if you give specific information under both schemes (ITI Reward Scheme 2018 and BTI Reward Scheme 2018), you can’t earn Rs 6 Crores. The maximum reward you can earn is Rs 5 Crores.

 

SEE ALSO: Will Narendra Modi Chase Black Money In Agriculture?

 

2. Process of earning this reward

 

Well, it’s really simple. You or a group of people will have to give accurate/specific information on tax evasion of Rs 5 Crores or more. You can also give specific information on Benami Properties worth Rs 1 Crore or more. You will have to provide valid documents to support your allegations.

If you have information on tax evasion, you will have to contact the Director General of Income Tax to earn a reward of up to Rs 5 Crores under ITI reward scheme 2018. You will have to approach the Joint Commissioner of Income Tax, if you have specific information on Benami Properties, to earn a reward up to Rs 1 Crore under BTI Reward Scheme 2018.

If you want to earn a reward under these schemes, you will have to fill a form and submit it to the Income Tax Department, along with the relevant documents. When filling the form you will have to give information like father’s name, address, Aadhaar, Contact Number and also important information like the amount of black money, parties involved in the transactions, address of the assets and so on.

 

3. How can you earn this reward?

 

You earn this reward based on the information provided and the value of assets disclosed.

The reward will be paid to you in 2 stages:

  • Interim
  • Final

 

Information you need to provide:

 

  • Undisclosed foreign income or assets under Black Money Act 2015

 

You can earn a maximum reward of up to Rs 50 Lakhs as an Interim Reward. The final reward will be a maximum of Rs 5 Crores.

Your final reward will be 10% of additional tax levied and realized.

 

  • Undisclosed income or assets under Income Tax Act 2015

 

You can earn a maximum reward of up to Rs 50 Lakhs as an Interim Reward. The final reward will be a maximum of Rs 50 Lakhs.    

Your final reward will be 5% of additional tax levied and realized.

 

  • Unaccounted or undisclosed cash exceeding Rs 1 Crore

 

You can earn a maximum reward of up to Rs 15 Lakhs as an Interim Reward. The final reward will be a maximum of Rs 1 Crore.       

Your final reward will be 5% of additional tax levied and realized. Be Wise, Get Rich.

 

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IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

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