black money

Taxman alert: Keep away from benami transactions

Taxman alert: Keep away from benami transactions

The department put out its alert in a public advertisement published in leading national dailies.

Jan 10, 2018, 14:43 PM IST
Non-compliance to be 'very costly' for companies: Govt

Non-compliance to be 'very costly' for companies: Govt

Continuing the clampdown on illicit fund flows, the Ministry of Corporate Affairs has already struck off more than 2.24 lakh companies that have not been doing business for long and has disqualified over three lakh directors associated with such entities.

Dec 26, 2017, 18:38 PM IST
Black money: I-T dept unearths undisclosed income of Rs 7,961 crore

Black money: I-T dept unearths undisclosed income of Rs 7,961 crore

In a written reply to the Lok Sabha, Minister of State for Finance Pon Radhakrishnan said the department, during this period, conducted searches on around 900 groups, wherein assets worth over Rs 900 crore were seized and undisclosed income of Rs 7,961 crore was admitted.

Dec 18, 2017, 19:26 PM IST
Money of all thieves in India turned white by PM Narendra Modi: Rahul Gandhi

Money of all thieves in India turned white by PM Narendra Modi: Rahul Gandhi

Taking a dig at Prime Minister Narendra Modi, Congress vice president Rahul Gandhi on Sunday said that he turned the money of all black money holders in the country into white.

Dec 10, 2017, 14:15 PM IST
Post demonetisation black money became part of formal system: PM

Post demonetisation black money became part of formal system: PM

Modi said data mining after the note ban is also helping government track down those involved in corruption.

Nov 30, 2017, 11:44 AM IST
I-T dept to slap higher tax rate on fraudulently revised ITRs filed post demonetisation

I-T dept to slap higher tax rate on fraudulently revised ITRs filed post demonetisation

The idea behind the CBDT directive is that the legal provision of filing a revised or belated ITR is not misused and black income is not shown as white in the aftermath of demonetisation by a taxpayer.

Nov 26, 2017, 15:02 PM IST
Big companies will be caught if they don't pass on GST benefit to customers: Adhia

Big companies will be caught if they don't pass on GST benefit to customers: Adhia

The Goods and Services Tax Council during its last meeting on November 10 has lowered tax rates on 178 items from 28 percent to 18 percent.

Nov 26, 2017, 09:54 AM IST

Demonetisation drive was meant to cleanse the system: Hasmukh Adhia

The government's demonetisation drive was meant to cleanse the system and do away with black money, Finance Secretary Hasmukh Adhia said here on Saturday.

Nov 25, 2017, 18:39 PM IST

Govt working on data mining of deregistered companies

Amid the clampdown on the black money menace, names of more than 2.24 lakh companies have been struck off from the records.

Nov 23, 2017, 17:01 PM IST
Panama Papers: I-T dept slaps criminal charges under anti-black money Act

Panama Papers: I-T dept slaps criminal charges under anti-black money Act

They said the department has detected undisclosed assets and stashed funds located in foreign countries in case of seven individuals and entities named in the leaks and the taxman has begun investigations against them under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

Nov 19, 2017, 16:31 PM IST
Benami assets: I-T dept scanning profiles of property registered over Rs 30 lakh

Benami assets: I-T dept scanning profiles of property registered over Rs 30 lakh

The Income Tax Department started initiating actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1 last year.

Nov 14, 2017, 22:44 PM IST
300% jump in PAN applications post demonetisation: CBDT

300% jump in PAN applications post demonetisation: CBDT

Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said while there were around 2.5 lakh PAN applications per month earlier, after the Centre announced to scrap high value currency notes in November last year, the number rose to 7.5 lakh.

Nov 14, 2017, 22:00 PM IST
Demonetisation was for institutional cleansing: Niti Aayog's Bibek Debroy

Demonetisation was for institutional cleansing: Niti Aayog's Bibek Debroy

Niti Aayog's Bibek Debroy also says demonetisation should not be seen through a narrow cost-benefit calculus but as a move aimed at "institutional cleansing".

Nov 09, 2017, 12:37 PM IST
Are those observing black day in favour of black money, asks Nirmala Sitharaman

Are those observing black day in favour of black money, asks Nirmala Sitharaman

Union Defence Minister Nirmala Sitharaman on Wednesday wondered if the opposition parties are in favour of black money as they are observing the first anniversary of demonetisation as a black day.

Nov 08, 2017, 13:50 PM IST
Desh ki aawaz on demonetisation: These are the questions Narendra Modi wants you to answer

Desh ki aawaz on demonetisation: These are the questions Narendra Modi wants you to answer

On November 8, 2016, Prime Minister Narendra Modi in a televised address announced the government's surprise move to demonetise high-value notes from the Indian economy.

Nov 08, 2017, 10:05 AM IST
Demonetisation checked terror financing: Goa CM Manohar Parrikar

Demonetisation checked terror financing: Goa CM Manohar Parrikar

Manohar Parrikar said on Tuesday that steps taken by PM Modi has helped in bringing terror financing under control.

Nov 07, 2017, 19:16 PM IST
Next generation will look at demonetisation with great pride: Arun Jaitley

Next generation will look at demonetisation with great pride: Arun Jaitley

The Finance Minister said he was "more than satisfied" with the new direction the economy is moving.

Nov 07, 2017, 17:35 PM IST
Demonetisation was to change the way India spends: Arun Jaitley

Demonetisation was to change the way India spends: Arun Jaitley

Pointing to the normal practice of purchasing real estate by partly paying in cash, or of companies having dual bank accounts to evade tax, the Finance Minister noted that various related measures taken had the triple objective of cutting cash use, increase the country`s tax base and the number of digital transactions.

Nov 07, 2017, 17:01 PM IST

A year on, bankers say note ban has been good for them

ICICI Bank chief executive Chanda Kochhar said the note ban led to formalisation of financial savings and increased the flow of funds to mutual funds and insurance.

Nov 06, 2017, 19:18 PM IST
Indira Gandhi did not go for note ban when needed: PM Narendra Modi

Indira Gandhi did not go for note ban when needed: PM Narendra Modi

Unfazed by the November 8 protest call by the Congress on the first anniversary of demonetisation, Prime Minister Narendra Modi today said burning effigies will not deter him from carrying forward the fight against corruption and black money.

Nov 05, 2017, 20:24 PM IST