black money

INX media case: SC to see CBI's documents on Karti's foreign account, property

INX media case: SC to see CBI's documents on Karti's foreign account, property

The CBI told a bench headed by Chief Justice Dipak Misra that the documents contained "contemporaneous records", including the details of foreign bank accounts and properties of Karti, and the top court should look into it.

Oct 10, 2017, 19:31 PM IST

New limit for reporting gold transactions soon: Govt

The government had on Friday reversed its August order of bringing gems and jewellery dealers under the purview of the reporting requirement of the Prevention of Money Laundering Act (PMLA).

Oct 08, 2017, 12:28 PM IST
Operation black money: 5,800 shell companies under govt glare over post note-ban deposits

Operation black money: 5,800 shell companies under govt glare over post note-ban deposits

Terming it as a "major breakthrough" in fight against black money and shell companies, government said the first instalment of data pertains to about 5,800 companies -- out of more than 2 lakh that were struck off -- involving 13,140 accounts.

Oct 06, 2017, 13:25 PM IST
L&T Infotech bags $100 million contract to help pin down tax evaders

L&T Infotech bags $100 million contract to help pin down tax evaders

Terming the work awarded by the Central Board of Direct Taxes as a "high volume digital deal", he elaborated that the project involves creating a 'semantic web' where web pages are structured and tagged in such a way that can be directly read by the computers.

Oct 01, 2017, 14:06 PM IST
Slew of measures taken to better tax administration: Arun Jaitley

Slew of measures taken to better tax administration: Arun Jaitley

Undisclosed income of Rs 5,400 crore was detected and about 400 cases have been referred to ED and CBI for an appropriate action, Jaitley said.

Sep 29, 2017, 19:17 PM IST
Another big scheme, another poll promise: PM Modi sets the tone for 2019 polls

Another big scheme, another poll promise: PM Modi sets the tone for 2019 polls

PM Narendra Modi on Monday unveiled his latest big-ticket scheme. The Saubhagya Scheme that he launched was another visible policy initiative that ties in with his messaging for the 2019 Lok Sabha elections.

Sep 25, 2017, 20:47 PM IST
Benami property secret informers to get reward of 1 crore

Benami property secret informers to get reward of 1 crore

According to the official, the information will have to be acute and identity of the informer will be kept secret. The department will never disclose the identity as this could endanger the informer. 

Sep 22, 2017, 19:04 PM IST
Examining reports on black money commissioned by UPA: Modi govt

Examining reports on black money commissioned by UPA: Modi govt

The NIPFP, NCAER and NIFM reports were received by the government on December 30, 2013, July 18, 2014, and August 21, 2014, respectively.

Sep 20, 2017, 16:37 PM IST
Shell cos crackdown: Govt to disqualify over 1 lakh directors

Shell cos crackdown: Govt to disqualify over 1 lakh directors

More than 1.06 lakh directors will be disqualified for their association with shell companies, according to the government, as it steps up the fight against black money.

 

Sep 12, 2017, 18:31 PM IST
Taxmen to snoop social networking sites to trace black money

Taxmen to snoop social networking sites to trace black money

A photo of your shiny new luxury car on Instagram or a costly watch on Facebook may lead the taxman to your door as the tax department from next month will begin amassing virtual information to trace black money.

Sep 10, 2017, 10:53 AM IST
Black money: 21,000 people disclose Rs 4,900 crore under new income declaration scheme

Black money: 21,000 people disclose Rs 4,900 crore under new income declaration scheme

The scheme was launched in December last year by the government to enable people with black money to come clean by paying tax and penalty of 50 percent.

Sep 07, 2017, 19:01 PM IST
Black money crackdown: Directors of deregistered companies to face up to 10-year jail for siphoning off funds

Black money crackdown: Directors of deregistered companies to face up to 10-year jail for siphoning off funds

It was also decided that the directors of shell companies which have not filed returns for three or more years would be disqualified from holding such position in any other firm.

 

 

 

Sep 06, 2017, 20:06 PM IST
Finance Ministry sends black money reports to Parliamentary panel

Finance Ministry sends black money reports to Parliamentary panel

The Finance Ministry has sent three study reports on the quantum of black money held by Indians inside the country and abroad to a Parliamentary panel, more than three years after they were submitted to the government.

Sep 04, 2017, 15:11 PM IST
Operation Clean Money: 14,000 properties of Rs 1 crore each under I-T scanner

Operation Clean Money: 14,000 properties of Rs 1 crore each under I-T scanner

The Operation Clean Money exercise has also unearthed large number of persons and clusters having suspect transactions. These include about 14,000 properties of more than Rs 1 crore each where persons have not even filed Income Tax Returns.

Sep 01, 2017, 09:55 AM IST
Switzerland may give information to India about black money by 2019

Switzerland may give information to India about black money by 2019

India and Switzerland on Thursday discussed issues relating to transparency in financial transactions and agreed on early operationalisation of the automatic exchange of information on tax between the two countries in a bid to check black money.

Aug 31, 2017, 19:44 PM IST
Significant portion of deposited notes could be illicit: Govt

Significant portion of deposited notes could be illicit: Govt

The RBI in its Annual Report for 2016-17 said that 99 per cent of the junked 500 and 1,000 rupee notes has returned to the banking system. 

Aug 30, 2017, 22:43 PM IST

I-T dept warns against cash dealings above Rs 2 lakh

In a public message, the department said "accepting Rs 2 lakh or more in aggregate from a single person in a day for one or more transactions relating to one event or occasion is prohibited".

Aug 28, 2017, 23:52 PM IST
Black money: Swiss parliamentary panel to discuss info-sharing safeguards

Black money: Swiss parliamentary panel to discuss info-sharing safeguards

The Federal Council adopted a resolution on June 15 regarding introduction of AEOIs with 41 jurisdictions including India. The decision is not subject to any referendum.

Aug 27, 2017, 17:14 PM IST
Good prospects for India to achieve over 8% growth in 2-3 years: Niti Aayog

Good prospects for India to achieve over 8% growth in 2-3 years: Niti Aayog

The government think tank has come out with a detailed plan for reforms in the economy, judiciary, regulatory structure and social sectors, in its 'Three Year Action Agenda, 2017-18 to 2019-20'.

Aug 24, 2017, 19:25 PM IST
Revenue dept's probes source of data on black money: FM Jaitley

Revenue dept's probes source of data on black money: FM Jaitley

Finance Minister Arun Jaitley on Wednesday said ongoing probes of and notices to depositors of unexplained money post note ban were among the sources to collate information about black money that figured in Prime Minister Narendra Modi's Independence Day speech.

Aug 16, 2017, 20:00 PM IST