Nirmala Sitharaman hits out at P Chidambaram over foreign assets

Updated:5 months, 1 week ago IST

New Delhi, may 13 (ANI): While addressing a press conference, Union Defence Minister Nirmala Sitharaman on Sunday said, “In pursuit of black money, time was given to disclose assets which are held and bring it to public notice.” “This act provides for, if convicted provides 120% tax and penalty on those undisclosed assets and income, and when proven invites jail term,” she added. Further she stated that as per the Income Tax estimates, Chidambaram family’s illegal assets in 14 countries and 21 foreign bank accounts are expected to be worth three billion dollars.

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