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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.

CBDT to look into high value transactions to trace tax evaders

CBDT to look into high value transactions to trace tax evaders

In order to identify tax evaders, the Income Tax department on Friday said it will use 360 degree profiling and match the database of people filing returns with those of informations about high value transactions.

Double taxpayers to 10 crore people, says PM Modi; warns against tax evaders

Double taxpayers to 10 crore people, says PM Modi; warns against tax evaders

At the conference titled 'Rajasva Gyan Sangam' (Knowledge Conference on Revenue), Modi asked the officials to "move towards digitisation" to make tax administration efficient and work towards bridging the "trust deficit".

Black money: India, Switzerland expect auto info exchange by 2018

Black money: India, Switzerland expect auto info exchange by 2018

Seeking to enhance cooperation to fight the black money menace, India and Switzerland Wednesday said a team would soon visit the Alpine nation to expedite pending information requests on Indians with Swiss bank accounts, while an automatic exchange of details would begin in 2018.

Meeting of minds with Switzerland on black money, tax evasion

Meeting of minds with Switzerland on black money, tax evasion

Washington: There has been a "meeting of mind" between India and Switzerland on the issue of black money and tax evasion, a top Indian official today, a day after it assured India of stepped up cooperation over the issue.

Black money: Switzerland promises deeper cooperation, to send top official to India

Black money: Switzerland promises deeper cooperation, to send top official to India

Prime Minister Narendra Modi, in his talks with Swiss President Johann Schneider-Amman, raised the issue of black money and tax evasion by Indians to which the latter offered to extend the level of cooperation.

Black money, tax evasion shared priority of India and Switzerland: PM Modi

Black money, tax evasion shared priority of India and Switzerland: PM Modi

Prime Minister Narendra Modi and President of Switzerland Johann Schneider-Ammann, on Monday, mutually agreed to strengthen cooperation in combating tax evasion and tackling Indian black money hidden in Swiss banks.

FIIs may not abandon India due to tax treaty changes: Centrum

FIIs may not abandon India due to tax treaty changes: Centrum

New Delhi: FIIs are unlikely to abandon India due to the tax treaty revision with Mauritius and foreign investment flow can actually increase for a few months as investors may take tax advantage by investing more before March 31, 2017 deadline, says a report.

Attention tax evaders: From June 1, declare black money and come clean or else....

Attention tax evaders: From June 1, declare black money and come clean or else....

This warning comes straight from the Finance Ministry: declare black money and come clean from June 1 or face penalty and be subject to scrutiny and enquiry by tax department.

Black money: PM Modi to visit Switzerland, discuss issue with Swiss Prez

Black money: PM Modi to visit Switzerland, discuss issue with Swiss Prez

In a move that could take the fight against black money to a significant level, Prime Minister Narendra Modi will visit Switzerland to discuss with authorities the issue of illicit cash stashed in their banks.

Government vows to crack down on super-rich tax evaders

Government vows to crack down on super-rich tax evaders

Figures published last month for the first time since 2000 showed just how few of India`s top earners pay tax. Only six people earning over 500 million rupees ($7.4 million) filed returns in 2012-13.

No immunity to those earned money through corruption: Finance Ministry

No immunity to those earned money through corruption: Finance Ministry

Persons who have earned money through corrupt practices cannot take advantage of the domestic black money disclosure scheme, says the Finance Ministry's FAQ on Income Declaration Scheme issued on Friday.

India, Slovenia amend DTAA to bring info exchange under ambit

India, Slovenia amend DTAA to bring info exchange under ambit

New Delhi: India and Slovenia have signed a protocol to amend the bilateral double taxation avoidance agreement, broadening the pact to include exchange of information to curb tax evasion.

India signs tax treaty with Mauritius to prevent tax evasion

India signs tax treaty with Mauritius to prevent tax evasion

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Government unearths indirect tax evasion of Rs 50,000 crore in 2 years

Government unearths indirect tax evasion of Rs 50,000 crore in 2 years

 As much as Rs 50,000 crore of indirect tax evasion and another Rs 21,000 crore of undisclosed income has been unearthed by the government in the last two years.

Congress criticises Centre for not inquiring Vijay Mallya's transactions

Congress criticises Centre for not inquiring Vijay Mallya's transactions

Congress today made a scathing attack on the Centre "for not inquiring" various transactions of money paid to Vijay Mallya by Diageo Plc, including the USD 40 million Sweetheart deal.