Black money: Reveal undisclosed income or face difficulties, warns PM Modi

Prime Minister Narendra Modi urged tax evaders and avoiders to make use of the one-time black money compliance window provided by the government to reveal their undisclosed income, or face consequences. 

Modi, while addressing the nation on 'Mann Ki Baat' on Sunday, said, "I urge everyone to disclose undisclosed income by September 30: This is the last chance to avoid any problems."

He coerced the public saying, "Those who do not disclose undisclosed income by September 30 will face difficulties."

Modi also assured that the names of those who use the compliance window to come clear on their undisclosed income, will remain confidential.

The government's one-time amnesty-like black money compliance window opened on June 1 this year. Under this, the government is giving people a chance to come clean about their undisclosed income and pay a tax and penalty of 45%. 

It's a four month window which closes on September 30 and the persons are expected to pay the taxes, surcharge and penalty by November 30. However, those persons who had amassed their wealth by corrupt practices will not be eligible to use the compliance window.