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Govt focus on clean economy, bold decisions: FM Jaitley

Govt focus on clean economy, bold decisions: FM Jaitley

The Modi government's emphasis is on bold decision making and a clean economy with business friendly environment, the returns of which can be spent on the poor, Finance Minister Arun Jaitley said on Monday.

Operation Clean Money: Over 5.27 lakh taxpayers respond to I-T dept query on cash deposits

Operation Clean Money: Over 5.27 lakh taxpayers respond to I-T dept query on cash deposits

Out of the 7.41 lakh accounts confirmed by the 5.27 Lakh taxpayers, the cash deposit amount has been confirmed in more than 99.5 percent accounts.

5 foreign funds issued P-notes to Indian nationals: Sebi

In a crackdown on alleged misuse of P-Notes for round-tripping, markets regulator Sebi has found five foreign funds to have issued these controversy- ridden offshore investment instruments to Indian nationals.

 

RBI to declare 'verified' figure on post-demonetisation deposits

RBI to declare 'verified' figure on post-demonetisation deposits

The Reserve Bank of India on Saturday said it needs to be careful on divulging the post-demonetisation deposit amount as the figure needs to be verified first and should not be just an estimate.

Panama papers: Law firm partners Mossack, Fonseca arrested

Panama papers: Law firm partners Mossack, Fonseca arrested

The two main partners of Mossack Fonseca, the Panamanian law firm at the centre of the so-called `Panama papers` scandal, have been arrested, a media report on Friday said.

PM Modi slams Manmohan Singh for his 'loot' and 'plunder' comments on demonetisation, says fight against corruption is not political

PM Modi slams Manmohan Singh for his 'loot' and 'plunder' comments on demonetisation, says fight against corruption is not political

Prime Minister Narendra Modi on Wednesday targeted his predecessor Manmohan Singh for describing demonetisation as "loot" and "plunder".

War on corruption and black money not a political fight: PM Modi

PM Modi. Watch the full segment for more details.

PM Modi's speech in Rajya Sabha: As it happened

Perhaps avenging former Prime Minister Manmohan Singh's strident criticism of the note ban, Prime Minister Narendra Modi on Wednesday launched a surprise attack on him.

CAs to pay fine of Rs 10,000 for filing incorrect info: CBDT

In a bid to check filing of incorrect returns by CAs, the tax authority will impose Rs 10,000 fine on such professionals to deter such act.

New income disclosure scheme: People can deposit money in parts

New income disclosure scheme: People can deposit money in parts

The government on Tuesday allowed declarants to make deposits on one or more occasions in Pradhan Mantri Garib Kalyan Deposit Scheme(PMGKDS), 2016.

HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money

HSBC, ICIJ list: I-T dept detects Rs 16,200 crore black money

Over Rs 16,200 crore in black money has been detected by the government after investigations on global leaks about Indians stashing funds abroad, Parliament was informed Tuesday.

Demonetisation woes due to bank officers' role: Arvind Panagariya

Demonetisation woes due to bank officers' role: Arvind Panagariya

In implementing demonetisation what did not go as planned was that "a lot of bank officials really played it in the way that they should not have played it" and it was on a scale not anticipated, according to Arvind Panagariya, Vice Chairman of Niti Aayog.

Allowed others' black money deposits in your account? I-T dept to attach property under new benami law

Allowed others' black money deposits in your account? I-T dept to attach property under new benami law

If you allowed others to use your bank account to park others' black money to escape the brunt of demonetisation, you may be in for trouble.

I-T dept to levy 100% penalty even for receiving cash over Rs 3 lakh: Hansmukh Adhia

I-T dept to levy 100% penalty even for receiving cash over Rs 3 lakh: Hansmukh Adhia

In a bid to check generation of black money, a steep penalty awaits those accepting cash in excess of Rs 3 lakh, beginning April 1, to settle any transaction.

1-crore bank accounts scanned under I-T department's 'Operation Clean Money'​ drive

1-crore bank accounts scanned under I-T department's 'Operation Clean Money'​ drive

As part of the tax department’s Operation Clean Money initiative, it has scrutinised around 1-crore  bank accounts, narrowed down to 18 lakh individuals to explain the source of large cash transactions they undertook in the weeks after demonetisation.

Taxmen can dig in past 10 years of returns to unearth black money

Taxmen can dig in past 10 years of returns to unearth black money

In a significant move to check blackmoney, Income Tax Department can now scrutinise income tax returns of previous 10 years if any search leads them to undisclosed deposits or property of over Rs 50 lakh.

Budget 2017: How 'cash donation cap of Rs 2000 on political parties' will curb black money, cleanse system

Budget 2017: How 'cash donation cap of Rs 2000 on political parties' will curb black money, cleanse system

With an aim to cleanse the political funding system and check black money, Finance Minister Arun Jaitley on Wednesday proposed to restrict cash donations to political parties from individuals to Rs 2,000. 

Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh

Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh

In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs Arun Jaitley in his Budget Speech on Wednesday said that the Government has decided that no transaction above Rs 3 lakh will be permitted in cash.

CBDT identifies 18 lakh people with suspicious deposits

The Income Tax department has identified 18 lakh people who have made 'suspicious' cash deposits post demonetisation, including those having deposited over Rs 5 lakh, and will send emails and SMSes seeking explanation about their source of funds.

Economic Survey 2017 pitches for bringing land, real estate under GST

Economic Survey 2017 pitches for bringing land, real estate under GST

Calling Goods and Services Tax (GST) a bold new experiment, the pre-Budget Economic Survey Tuesday pitched for including land and other immovable property - the key source of black money creation - in the indirect tax regime to help propel GDP growth to 8-10 percent.