Explanation:

Under 'Income Tax Informants Reward Scheme' a person can get reward up to Rs. 50 lakhs for giving specific information about substantial evasion of tax on income or assets in India.
• A reward of up to Rs 1 crore - The tax department announced two reward schemes under which informants sharing ‘specific
information’ about any Benami transaction or property could get a reward of up to Rs 1 crore.
• A reward of up to Rs 5 crore - Information on undisclosed black money stashed abroad could fetch up to Rs 5 crore for the
informant.
• Reward of up to Rs 50 lakh - According to the department’s announcement, the ‘Income Tax Informants Reward Scheme’ too
has 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, which are actionable under the Income-tax Act, 1961.