Demonetisation effect: Over Rs 6000 crore in Centre's pocket as tax

New Delhi : Centre has received over Rs 6000 crore as tax after Prime Minister Narendra Modi announced demonetisation and strict action against the black money holders.

Tax authorities sought explanation from the individuals who deposited large sum of cash after demonetisation of Rs 500 and Rs 1,000 notes.

With no option left than to pay tax, many chose to go with govt scheme of paying 60% as tax, which is now hiked to 75%.

"Tax authorities have so far collected around Rs 6,000 crore," Times of India quotes Pasayat, who with SIT chairman Justice M B Shah supervises the drive against black money by the CBI, Enforcement Directorate, Central Board of Direct Taxes and other agencies.

It has been expected that this tax deposit amount can still show a rise in coming days.