"We expect the number of applications under the (blackmoney) compliance window to go up during the last 2-3 weeks," Revenue Secretary Shaktikanta Das said today.
     
"I will not tell you how many people have filed applications under the compliance window. We believe that most of the applications will come towards the end of the period, which is September 30," he said.
     
The government has come out with a 90-day compliance window, which ends on September 30, for entities to disclose their unaccounted money held overseas as the stringent Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, has come into force.
     
Das said information provided under the compliance window would be kept confidential and would not be disclosed to anyone.
     
"The compliance window is to provide one-time opportunity to comply before we start taking stringent measures against the black money transactions," he noted.
     
According to him, the government has already signed double taxation avoidance agreements (DTAAs) with 94 countries.
   
In its latest report, the Special Investigation Team on Black Money had suggested that Sebi needs to further strengthen its monitoring mechanism to detect instances of the stock market platform being misused for tax evasion.

 

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