Earn Rs 5 Crore Within 6 Months Through This New Scheme Launched By Govt.

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Do you wish to become rich without investing a single penny? Then the new scheme launched by the Indian Government can help you earn a prize money of 5 crore rupees. All you need to do is to inform the Income Tax Department about the black money holders and tax money evaders.

The Central Board of Direct Tax (CBDT) upgraded its reward scheme and the reward money too was increased to 5 crore rupees. The informer has to give specific details about someone who is a tax money evader or black money holder. If wrong information to the Income Tax Department is provided then the informer may land in trouble because of it.

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The scheme was first launched on April 24, 2018, and under Black Money Act, 2015 and Imposition of Tax Act, 2015, the informer will be given reward money for providing undisclosed income and data related to tax evasion under Black Money Act. This scheme regulates the granting and the payment of a reward to the informer of the black money and benami properties.

Under the ITI reward scheme, an informer will get an amount of 5 crores and an amount of 1 crore rupees will be given to the informer under the BTI reward scheme 2018. The person may hope to get a reward of 6 crore rupees for giving information under both schemes but the reward money can’t exceed more than 5 crores.

Someone with any information under the ITI reward scheme can contact the Director General of Income Tax (Intelligence) and under the BTI reward scheme, if a person informs about the tax evaders or the black money holders, they can approach the joint commissioner of income tax.

The informant has to fill a form under both the schemes and submit it to the Income Tax Department. In the form, the informant will be asked about various details such as father’s name, address, Aadhaar card Number, contact number along with data that includes the amount of black money, parties involved, address of the assets etc.

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In the way in which the reward will be given involves two stages that are interim and final as CBDT has set up various slabs based on the information that will be given by the informer. An amount of 50 lakh as an interim and a 5 crore final reward will be given if the information related to the undisclosed foreign income or assets is provided by the informer. If the information of undisclosed income or assets is provided then an interim amount of 5 lakh and the final amount of 50 lakh will be given.

The interim amount will reach the informant in 4 months after the relevant assessment of the information has taken place and the final amount will reach within the time period of 6 months after the black money has been seized by the Income Tax Department.

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