Unaccounted wealth and income of Rs 250 crore has been declared by 400 people in Uttarakhand under the Income Declaration Scheme (IDS), an Income Tax official said on Monday.
Of this about Rs 112 crore would go to the income tax (IT) department, he said.
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The official told IANS that while the amount was not much, as compared to the pan-Indian declaration, but for a small state like Uttarakhand, the disclosure was ‘considerable’.
“If we do not count the major taxation from big industries, Uttarakhand gives an annual income tax of around Rs 250 crore and hence the declaration of a similar amount under the IDS is certainly big,” he said.
While the details of the disclosures will not be shared by any other agency, the IT official said, severe action would be taken by the Central Board of Direct Taxes (CBDT) against people caught with illegal income and black money holdings here after.