NEW DELHI: Finance Minister Arun Jaitley 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.
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.
Finance Minister Arun Jaitley Saturday announced 100 percent exemption from tax for contributions to the Swachh Bharat fund and the Clean Ganga Kosh by corporates under corporate social responsibility.
Jaitley said this while presenting the budget for financial year 2015-16.
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