|India's Finance Ministry has confirmed that its special four-month window for declaring "black money" - i.e. undeclared income - which ran from June through September, has resulted in 64,275 declarations, amounting to around US$9.8 billion (Rs65,250 crore). The Indian government expects to earn around US$4.5 billion in taxes from the declarations, according to a report by the Times of India.
Speaking at a news conference, India's Finance Minister Arun Jaitley reportedly said that the figures were not yet final, and that the final figure may be revised upward once the final tabulation has been completed. The Income Declaration Scheme allowed for declaration of previously undeclared assets to the tax authorities, without risk of prosecution.