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Blackmoney declarants cannot pay tax from undeclared income

Blackmoney declarants cannot pay tax from undeclared income

The government on Thursday clarified that blackmoney declarants using the one-time compliance window cannot pay tax and penalty from undisclosed income to bring down their liability and such acts will not get any immunity.

Govt checking if any blackmoney returned to India: Revenue Secy

In the wake of deposits held by Indians in Swiss banks dropping by 33 percent, Revenue Secretary Hasmukh Adhia on Friday said the government is checking if any of the blackmoney has been routed back to India.

Publicise blackmoney scheme at posh markets, malls: CBDT to IT

Publicise blackmoney scheme at posh markets, malls: CBDT to IT

CBDT has directed the Income Tax department to step up publicity of the ongoing one-time blackmoney compliance window by advertising it at posh markets, clubs and showrooms and also ensure full privacy to those making disclosures for better collections.

Rahul Gandhi takes on PM Narendra Modi in Lok Sabha: Watch

Rahul Gandhi takes on PM Narendra Modi in Lok Sabha: Watch

Rahul Gandhi said the government launched a 'Fair and Lovely' yojana, to convert black money to white money.

Blackmoney: CVC, Natgrid get access to blackmoney related info from FIU

The Central Vigilance Commission and National Intelligence Grid have been given access to information on blackmoney and money laundering related transactions from Financial Intelligence Unit (FIU).  

Modi committed 'fraud' on people over black money: Jethmalani

Jethmalani said the promise of One Rank One Pension (OROP) for officers and men of the armed forces was only a loud pledge.

'Problem of black money can be tackled by rationalising taxes'

Finance Minister Arun Jaitley on Monday said the problem of domestic black money can be addressed by rationalising taxes and bringing more people under the banking net besides some other measures.

Bulk of black money is still within India: Arun Jaitley

Bulk of black money is still within India: Arun Jaitley

Stressing that bulk of black money is still within India, he said there is a need to change the attitude to make plastic currency the norm and cash an exception and the government is working with various authorities to incentivise this change.

Black money: Upto Rs 15 lakh award for info against defaulters

The new guidelines have been issued by the CBDT keeping in mind the huge challenge of tackling black funds in the country and at the same time boosting the revenue kitty.

Fight against black money: Sebi to discuss P-Notes issue

The Special Investigation Team on Black Money had suggested that Sebi needs to further strengthen its monitoring mechanism to detect instances of the stock market platform being misused for tax evasion.

Blackmoney: E-filing link to declare illegal assets launched

According to the scheme, such a declaration filed online by an individual or entity will have to mandatorily bear a "digital signature" for validation.

Blackmoney: CBDT rejigs committee to handle FATCA cases

Through an order issued days before FATCA was signed by the two countries on July 9, the CBDT has increased the strength of the panel from existing seven to eight members.

Black Money Bill only aimed at tightening tax penalties: Swamy

 Bharatiya Janata Party (BJP) leader Subramanian Swamy on Wednesday said the Black Money Bill passed in the Lok Sabha had no measures to bring the money stashed abroad back, but was only aimed at tightening the tax penalties.

Cricket betting a key source of black money: SIT to SC

Cricket betting a key source of black money: SIT to SC

Cricket betting has emerged as one of the key sources of blackmoney generation and according to one account it could be as high as Rs. Three lakh crore which should be controlled, the Supreme Court was told on Tuesday.

Oppn attacks PM for reported remarks on Rs 15 lakh in each a/c

Opposition members in the Lok Sabha on Monday attacked Prime Minister Narendra Modi's reported electoral promise of depositing Rs 15 lakh in every account when Indian black money stashed abroad is brought back, wondering when the promise will be fulfilled.

Blackmoney: Swiss banks seek fresh undertakings from Indians

The latest development comes at a time when India is aggressively making efforts to bring back illicit money parked by its citizens overseas and Switzerland has also agreed to co-operate on the issue.

JD(U) hits out at BJP over blackmoney

Attacking the BJP over blackmoney issue, JD(U) president Sharad Yadav on Sunday said the Narendra Modi government has failed to bring back any blackmoney stashed in foreign banks despite their tall promises to do so.

ED questions Goa miner Timblo's son in money laundering case

Enforcement Directorate (ED) on Friday questioned Goa-based miner Radha Timblo's son Chetan in connection with a money laundering probe against him and his mining firm.

Black money in foreign banks to return in a year: Subramanian Swamy

 Senior BJP leader Subramanian Swamy on Sunday expressed hope that the black money stashed in foreign banks would return to the country in about one year.

Black money: SIT asks public to provide vital info on suspects

The panel said it requests the public at large to send "precise information in a crisp manner and mere allegations without specific details be avoided."