Black Money: Latest News and Updates, Top Stories, Videos, Photos About Black Money

I-T Dept Raids In Gurugram; Detects Rs 600 Crore Black Money

After raids on two business groups in Gurugram, the Income Tax Department discovered a stunning 600 crore in illicit money. On the 10th of November, the department conducted search and seizure operations at Gurugram on two groups, one involved in real ...

IT Dept. Unearths Rs. 300 Crore Black Money After Raid At A Kolkata Group

The Income Tax Department has unearthed undisclosed income of more than Rs. 300 crore after conducting raid at a Kolkata-based group that is into the business of manufacturing iron, steel and tea, said the CBDT. "A total concealment of income ...

Income Tax Act, Anti-Money Laundering Law To Be Decriminalised: FM Sitharaman

The government will decriminalise the Income Tax Act and the Prevention of Money Laundering Act said Finance Minister Nirmala Sitharaman in her address on the 'roadmap to a $5 trillion economy' at the Nani Palkhivala centenary celebrations in Chennai on Sunday. ...

Property, Aadhaar Linking To Curb Black Money And Increase Transparency

Just as the unique biometric-enabled Aadhaar has now been made mandatory for getting PAN card as well as to file ITR, the process i.e. linking of Aadhaar with property registration will become mandatory too in near future. And with it, homebuyers ...

No Plan To Roll Out Gold Amnesty Scheme: Govt. Sources

Gold Amnesty Scheme Not After media reports pointed out that government will likely roll out the gold amnesty scheme for checking unaccounted gold holding beyond some threshold value, clarifications came up on Thursday stating that the government is not working out ...

Govt To Announce Amnesty Scheme For Unaccounted Gold To Check Black Money

After demonetization that resulted in the scrapping of high-value notes of Rs. 500 and Rs. 1000, Narendra Modi led government attempts to put a check on black money by rolling out amnesty scheme for unaccounted gold, a leading business TV channel ...

Govt To Get Details On Swiss Bank Accounts Held By Indians From Sept

India's fight against black money will get a boost in September when the government will receive detailed financial information on bank accounts held by Indians in Switzerland, including those accounts that were closed last year. Minister of State for External Affairs, ...

8 Points On The New Tax Rules On Penalty Against Black Money & Benami Property

The Central Board of Direct Taxes (CBDT) recently revised its guidelines to make serious offences under black money and benami laws accountable. Those indulging in these activities will not be able to get away just by paying off a penalty fee. Here ...

Tax Default, Black Money Cases Can No More Be Settled Just By Paying Penalty

The new tightened guidelines issued by the Income Tax Department, effective from 17 June 2019, have made serious offences under the Black Money and Benami Law, generally non-compoundable. It means that from now on, a person or entity cannot settle such ...

Govt Declines Revealing Black Money Details Received From Switzerland

Citing confidentially, the government refused to share information on black money cases received from Switzerland. In a reply to an RTI application filed by a PTI journalist, the Ministry of Finance refused to share details on the case-to-case basis on the ...

Here's Why You Need To Make Full Disclosure Of Your Foreign Income To IT Dept

In February the Calcutta High Court upheld the initiation of a prosecution for not disclosing information about foreign bank accounts held by an individual taxpayer in his tax returns filed. The case is a good example of how the mistake of ...

How To Determine Fake Currency Notes?

While there has been news that the government has reduced the printing of Rs. 2000 currency notes that came into existence post demonetisation, there is a huge market of fake currency notes that were recently revamped such as that of ...

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