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Pay 50 tax on unaccounted deposits or 85 if caught govt

News and Press Release - Dated:- 28-11-2016 - New Delhi, Nov 28 (PTI) Providing a window to black money holders, the government today proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don't disclose but are caught. Nearly three weeks after Prime Minister Narendra Modi announced junking high denomination 500 and 1000 rupee notes, Finance Minister Arun Jaitle .....

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