19 September, 2020

‘Cash Deposits Have No Corelation To Tax Returns’

Shaktikanta Das assures that a huge tax inflow is expected, either as voluntary disclosure or as penal tax.

Photograph by Jitender Gupta
‘Cash Deposits Have No Corelation To Tax Returns’
outlookindia.com
2017-02-22T16:26:39+05:30

Post-demonetisation, there were expectations that the government would use the gains to boost economic growth. But there remains no clarity on what were the gains. Shaktikanta Das, secretary of the Department of Economic Affairs, assures Lola Nayar that a huge tax inflow is expected, either as voluntary disclosure or as penal tax. ­Excerpts from an interview:


Video by Jitender Gupta; Edited by Suraj Wadhwa

The 2017-18 budget speaks about low res­ource generation and more steps to curb the generation of black ­money. Is the shift to digital payments robust enough to make a meaningful difference as cash transactions without sale receipts are continuing?

What was talked about were revenue rec­e­i­pts, particularly tax receipts, which have...

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