Govt to frame new law to track black money, says Arun Jaitley

"On black money, a new structure including e-filing and tracking down is our abiding commitment," FM Arun Jaitley said in his Budget speech.

twitter-logo IANS   New Delhi     Last Updated: February 28, 2015  | 13:23 IST
Govt to frame new law to track black money: Jaitley
Photo: Reuters

Finance Minister Arun Jaitley on Saturday said the government was committed to tracing black money stashed abroad and a comprehensive new law will be framed to track it.

"On black money, a new structure including e-filing and tracking down is our abiding commitment," Jaitley said in his Budget speech.

He said a "comprehensive new law to track black money" would be framed.

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He also said there will be rigorous imprisonment of 10 years under black money law.

The finance minister said a benami property transaction bill will be brought to tackle black money transactions in real estate.

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