The government on Friday said there was no proposal to bring amnesty scheme for declaring undisclosed income.
Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore.
he government will allow holders of black money abroad to declare their wealth.
The amnesty scheme is a 'practical and pragmatic' approach to bring back the black money stashed abroad, the chairman of Assocham's Legal Affairs Council R K Handoo said on the sidelines of the release of a study on black money in New Delhi on Friday.
While the black money declarations may go up further once all the online and manual filings of undisclosed assets filed at the end of the four-month window on September 30 are compiled, the government will get this fiscal nearly Rs 14,700 crore or half of the total taxes due.
Experts say only three per cent individuals pay taxes.
Assets worth only Rs 4,000 cr declared till mid-August; govt expects pick-up in last 2 weeks
Before Lok Sabha and Rajya Sabha was proceedings were disrupted by a relentless Opposition over the demonetisation issue, other topics such as compensation for military personnel, counterfeit notes were spoken of. Here's what happened in Parliament.
Calling Service Tax Voluntary Compliance Encouragement Scheme (VCES) a rare opportunity to make a "fresh start", Finance Minister P Chidambaram on Wednesday asked those in trade and industry to seize the offer, even as he made it clear that tax evaders would eventually be "reached".
That "Rollback Budget" ushered in an era of rollback.
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