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Money laundering: 8-9 lakh registered companies not filing returns, says Adhia

Money laundering: 8-9 lakh registered companies not filing returns, says Adhia

As many as 8-9 lakh registered companies are not filing annual returns with the Ministry of Corporate Affairs (MCA) and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.

Finance Bill 2017 passed in Lok Sabha: Key highlights you should know

Finance Bill 2017 passed in Lok Sabha: Key highlights you should know

The Lok Sabha on Wednesday approved a ban on cash transactions above Rs 200,000 (USD 3,055), enacting tax measures from last month annual budget aimed at boosting investment in the country.

New agency to probe anomalies in IT returns filed post demonetisation

There is a move to set up a new agency for probing anomalies in income tax returns filed by 18 lakh people after demonetisation, Union Minister Radha Mohan Singh said on Wednesday.

Tax evasion case: Sania Mirza clears the air, says Telangana government gave her Rs 1 cr as 'incentive'

Tax evasion case: Sania Mirza clears the air, says Telangana government gave her Rs 1 cr as 'incentive'

In July 2014, the Telangana government had announced that Sania would be the state's Brand Ambassador, and gave her Rs one crore towards preparations for major tournaments

Sania Mirza summoned by Service Tax Department for tax evasion

Sania Mirza summoned by Service Tax Department for tax evasion

Principal Commissioner of Service Tax office here issued the summons to the tennis star on February 6 and appear before it in person or by an authorised agent on February 16.

GST: Tax evasion up to Rs 2 crore a bailable offence

GST: Tax evasion up to Rs 2 crore a bailable offence

 To make GST regime less onerous, the Centre and states have decided to water down the penal provisions to ensure a trader gets immediate bail if the alleged tax evasion is up to Rs 2 crore.

 

France praises PM Narendra Modi's demonetisation move, says it's bold decision to combat corruption, black money

France praises PM Narendra Modi's demonetisation move, says it's bold decision to combat corruption, black money

France has heaped praises on PM Narendra Modi for his demonetisation move.

PAN card must for all bank account holders by February 28

PAN card must for all bank account holders by February 28

In yet another to fight against black money and tax evasion, the government has notified that all individuals having bank accounts will have to update their PAN or Form-60 if PAN not available by February 28, 2017.

Demonetisation: 60 lakh depositors parked Rs 7 lakh crore in banks since November 8

Demonetisation: 60 lakh depositors parked Rs 7 lakh crore in banks since November 8

Since demonetisation decision was announced by the central government on November 8, 60 lakh depositors (individuals and companies) have parked Rs 7 lakh crore in banks.

Cristiano Ronaldo declared 20 million euros in Swiss banks: Spanish newspaper

Cristiano Ronaldo declared 20 million euros in Swiss banks: Spanish newspaper

The Portuguese international earned 203.7 million euros outside of Spain and 23.5 million inside the country.

DNA: Analysis of what Indian's thiunk about tax evasion

Analysis of Indian people's mentality of tax evasion. Watch this special segment and get to know more here.

Demonetisation: Jan Dhan accounts under scanner; Rs 21,000 crore deposited so far

Demonetisation: Jan Dhan accounts under scanner; Rs 21,000 crore deposited so far

In the case of Jan Dhan account, the holder can deposit up to Rs 50,000.

HSBC should stand trial in tax fraud case, says French prosecutor

A French prosecutor has called for British banking giant HSBC to stand trial for enabling French clients to hide at least 1.67 billion euros ($1.84 billion) from the taxman, a source close to the probe said Thursday.

Income Tax dept to intensify crackdown on black money hoarders

Income Tax dept to intensify crackdown on black money hoarders

With both the one-time black money declaration windows concluded, the Income Tax department is set to intensify its crackdown against stash holders after a recent case where an IDS participant surrendered a fresh Rs 30 crore of unaccounted wealth to the taxman after raids were conducted against him.

Govt revises excise duty evasion limit to warrant arrest

The government has doubled the limit of excise duty evasion for arrest and prosecution of accused to Rs 2 crore and also asked officials not to resort to penal provision in cases of technical nature.

Nagaland Assembly ratifies GST

The Nagaland Legislative Assembly on Friday ratified the Goods and Service Tax (GST) Constitution Amendment Bill.

Sebi confirms ban on 11 entities in tax evasion case

Markets regulator Sebi on Wednesday confirmed its interim order banning 11 entities in a case related to tax evasion and money laundering through stock exchange platform.

Cabinet gives nod to revised Indo-Cyprus DTAA

Cabinet gives nod to revised Indo-Cyprus DTAA

In another major step in fight against tax evasion, the Cabinet on Wednesday gave its approval to the revised DTAA between India and Cyprus that provides for source-based taxation of capital gains on transfer of shares instead of one based on residence.

I-T dept identifies 90 lakh high-value transactions without PAN; to seek details

I-T dept identifies 90 lakh high-value transactions without PAN; to seek details

The high-value transaction trails were detected following the department's drive to bring to book maximum amount of black money during the one-time compliance window closing on September 30.

Govt may extend tax payment deadline for black money scheme

Govt may extend tax payment deadline for black money scheme

The government may extend the deadline for payment of tax on black money disclosed during the one-time compliance window and has accepted the industry request for tax being paid in instalments.