Hyderabad: The amount of undisclosed money declared in the Telugu states was Rs 16,500 crore. Telangana in fact tops South India in black money that was declared under the Income Declaration Scheme that ended on September 30.
The income-tax department will receive Rs 7,425 crore towards tax from the Telugu states over the next 12 months under the scheme.
As per the scheme, those who have declared undisclosed money can pay the 45 per cent tax in three instalments – 25 per cent by the end of November, 25 per cent by the end of March, 2017 and the remaining by September 30, 2017.
An official source from the Central Board of Direct Taxes said that the IDS counters had been kept open till midnight of September 30 and there was a little delay in the compilation of manual records.
“Those who were in the queue by 12 midnight on that day were provided tokens for submitting the applications. It was delayed a bit because of poor awareness of a few workers and drivers who came on behalf of their bosses, businessmen and industrialists,” the source said.
“There was a Rs 1,000-crore difference between Andhra Pradesh and TS till Monday and AP was on top in South India. When the final figures were compiled, TS topped the list as a family from Hyderabad declared a large amount of undisclosed income. About 7,000 persons declared their income in the two states,” the official said.
