Govt constitutes Panel to explore self disclosure of income

The government has constituted a group of experts to suggest measures to encourage tax evaders to disclose their unaccounted income voluntarily.The finance ministry’s move comes at a time when the country is debating a crackdown on black money.The latest study comes in the backdrop of finance minister Pranab Mukherjee’s statement that two groups have been constituted to look into different aspects of black money,including a proposed amnesty scheme.The group will come up with strategies to increase direct tax collections and suggest measures to curb tax evasion in the changing business scenario.