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Money laundering to become difficult in next 1-2 years: Finance Minister

Money laundering to become difficult in next 1-2 years: Finance Minister

 Tax evasion and money laundering is set to become a hard nut to crack in the next 1-2 years, as India has joined real-time global automatic exchange of information system, that has become functional now.

India needs to apply GAAR provisions intelligently: Shome

The provisions of General Anti Tax Avoidance Rules (GAAR) should be 'intelligently' applied, said the Chairman of Expert committee, Parthasarathi Shome, after submitting the draft report to Finance Ministry.

PM panel on GAAR has begun consultation process: Shome

Prime Minister-appointed panel on GAAR has begun consultations with the stakeholders to fine tune and bring greater clarity in the draft norms, the chairman of the committee Parthasarathi Shome said Thursday.

Biggest ever disclosure of black money stashed abroad

In the biggest ever disclosure of black money stashed abroad, a Delhi-based businessman has disclosed and surrendered Rs 73 crores to the Income Tax department and also gave details of lockers held in Swiss banks and the US.

Black money: One of the most discussed topic of 2011

The government went into an overdrive to deal with the menace of black money and promised a White Paper on the issue as demands for bringing back the ill-gotten wealth stashed abroad gathered steam in 2011.

India among best in fight with tax evasion

The Global Forum on Tax Transparency ranks India amongst the top three countries, which are fighting to get tax evaders to book.