Fin Min examining CBDT committee report on black money

New Delhi, May 13: Nearly ten months after it was formed to examine ways to check the menace of black money, a committee under the chairmanship of Central Board of Direct Taxes (CBDT) chief has submitted its report to the Finance Ministry.

The Ministry, however, declined to share its details saying "action taken" on the basis of the report is to be laid in the Parliament.

The Government had on May 27 last year constituted the committee to examine ways to strengthen laws to curb the generation of black money in the country, its illegal transfer abroad and its recovery.

The committee was mandated to consult all stakeholders and submit its report within a period of six months, that is by November-end. However, its tenure was extended thrice in November, January and February, 2012 -- to enable it to complete its work by March.

"The report, submitted by the Committee on March 29, 2012 to the Government, is being examined by the Government and action taken thereof is to be laid before the Parliament," the Finance Ministry said in a reply to an RTI query.

It also declined to share the copy of the report as it is "exempted under Section 8(1)(c) and Section 8(1)(e) of the RTI Act, 2005". The Section 8(1)(c) bars "information, the disclosure of which would cause a breach of privilege of Parliament or the State Legislature".

Whereas, Section 8(1)(e) exempt disclosure of "information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information".

PTI