1 Best way to file a complaint against black money - Mix Masala/Tech Info

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Sunday, 31 May 2020

1 Best way to file a complaint against black money

In India, Black money is funds earned on the black market, on which income and other taxes have not been paid to the Indian Government. The total amount of black money is deposited in foreign banks by Indians is the unknown.
1 Best way to file a complaint against black money
Sharing a specific black money information with the income tax department or file a complaint against black money about any unknown transaction or property could help you to earn Rs. One crore or more if the black money stashed abroad could fetch up to Rs. 5 Crore or more.


Some reports claim a total of US$1.06 to $1.4 trillion is held illegally in the Swiss Bank. The Government of Switzerland, claims the report false and fabricated and the total amount held in all Swiss Bank accounts by citizens of India is about US $2 billion.

Details about the Reward Scheme for complaint against black money:

The informants can get reward himself for a complaint against black money up to Rs. 1 crore or more for the specific information about the black money in detail manner to the Joint or Additional Commissioners of Benami Prohibition Units (BPUs).
1 Best way to file a complaint against black money
In Investigation directorates of Income Tax Department about Benami transaction and properties as well as proceeds from such properties which are actionable under the Benami Property Transaction Act, 1988, as amended by Benami Transaction Amendment Act 2016.

Procedure to file a complaint against black money:

If you know anyone who has black money or Benami property and is involved in any tax evasion, you can file a complaint against black money or you can just simply inform the Income Tax Department and your name and details being kept totally secrete.

The strict action and steps will be taken by the Income Tax Department on the complaint. The Government launched an email ID where anyone can send a complaint against black money.

If you give the information of someone personally who has a black money or Benami property and is a tax evader, you can send the mail to give a tip to Income Tax Official Balck Money email id: blackmoneyinfo@incometax.gov.in

A new email ID created for people to give information on the complaint against black money to tax authorities,” Revenue Secretary Hansmukh Adhia announced during a press briefing.
“The amount deposited in banks does not mean it is white unless the tax is paid on the amount. The email id, blackmoneyinfo@incometax.gov.in, will be monitored by a cell that will take immediate action of the tip-offs they receive. People can give information about those trying to convert black money into white on this email address,” he said.

There is also another initiative of the Government of India where you can report the cases of Income Tax evasion, smuggling, and unaccounted wealth. If the report turns out to be true, you will get an award from the Income Tax department.

This process is extremely easy and hassle-free. All you need to do is to go to this website: www.ceib.nic.in/reward.htm and follow the instructions. In both the systems, your name will be kept totally ANONYMOUS !! No one will ever come to know who complained.

“Unaccounted cash can be disclosed under PM Garib Kalyan Yojana (PMGKY). The disclosures will attract 50% tax and penalty,” Adhia said. He also added, “We want people to join PMGKY and through this scheme, they contribute to the welfare of the people. The government plans to keep the declarations made under the new money disclosure scheme confidential. Declarations under the new black money disclosure scheme to be kept confidential, the information won’t be used for prosecution. Receipt of tax paid on deposits will have to be shown to avail disclosure scheme benefits including immunity from prosecution”.

In case you know anyone who is hoarding black money, evading taxes and involved in illegal activities, be a part of corruption-free India and expose them, so that their illegally looted wealth is used for nation-building and taking India to greater heights.

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