Govt to reward Rs 5 crore for disclosing black money The Income Tax department on Friday in order to encourage informants announced a Benami Transactions Informants Reward Scheme, 2018, under which any person, including foreigners, can inform Joint or Additional Commissioners about benami transactions and properties which can be tried under the Benami Transactions (Prohibition) Amendment Act, 2016. Under the scheme, a person can get a reward of up to Rs one crore for giving specific information to tax officials about benami transactions and properties while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore. Besides, the ‘Income Tax Informants Reward Scheme’ has also been amended under which a person can get reward up to Rs 50 lakh for giving specific information about substantial evasion of tax on income or assets in India. ____________ Major Visa network crash sparks payment chaos in UK & Europe Millions of people all across the UK and E...