Fin Min examining report on black money.

News24online: New Delhi: Monday, May 14, 2012.

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.