The government isn’t thinking about any gold amnesty scheme as a part of efforts to unearth unaccounted wealth stashed in the form of yellow metal, PTI suggested, bringing up legit assets.

The clarification comes amidst media record indicating the authorities circulate to launch amnesty scheme that will permit individuals and entities to claim their unaccounted gold keeping without danger of being prosecuted.

There is no such gold amnesty scheme underneath attention of Income Tax Department as being pronounced in media, the resources stated.

As the price range procedure is on, usually these kind of speculative reports do appear beforehand of budget system, they said.

Reports indicated that scheme might try to triumph over constrained achievement of an in advance amnesty scheme Pradhan Mantri Garib Kalyan Yojana (PMGKY), also referred to as IDS-II, launched in 2017, submit-the demonetisation exercising.

It become pronounced that the new amnesty scheme might permit gold hoarders a danger to come back clean on investment made the use of black cash via putting forward their possession and paying tax on it.

It is predicted that the overall inventory of gold held with the aid of Indians might be about 20,000 tonnes. However, the actual protecting after considering unaccounted imports, ancestral holdings and so on ought to honestly be inside the vicinity of 25,000-30,000 tonnes.- PTI