The Income Tax Department on Monday warned black money hoarders of punitive action if they do not deposit their unaccounted cash, held in bank deposits or in new currency, under the Pradhan Mantri Garib Kalyana Yojana (PMGKY) by March 31.

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

US President Donald Trump paid $38 million in taxes on more than $150 million in income in 2005, the White House said on Tuesday.

Income Tax department on Wednesday raided 11 locations linked to Tamil Nadu Chief Secretary P Rama Mohana Rao, including his official chamber and residence, to unearth Rs 30 lakh in new currency and 5 kg gold.

Income Tax department on Thursday raided Noida branch of Axis Bank, pulling out shocking data of 16 fake accounts with a cash deposit of over 60 crores post demonetisation.

Prime Minister Narendra Modi had announced demonetisation of Rs 500 and Rs 1000 on November 8 to stop black marketing in India, but some still managed to dig out some ways to stay in the league. To restrict them several successful raids have been conducted in the mean-time.

To give a halt to all spreading rumours over Government's expected steps over gold monetisation, Finance Minister Arun Jaitley on Thursday announced important points to aware people.

Lower house of the Parliament (Lok Sabha) on Tuesday passed Income Tax Amendment Bill to tax black money deposited in banks post demonetization (November 8).