Page 2 Black Money: Latest News and Updates, Top Stories, Videos, Photos About Black Money

NRIs Not To Disclose Foreign Assets, Bank A/cs: Income Tax Tribunal

As per the Income-Tax Appellate Tribunal (ITAT), NRIs are not obliged to provide details in relation to their foreign assets and bank accounts held outside of the country.Nonetheless, also when there arises some discrepancy, the onus lies with the department of ...

SIT on Black Money Suggests Increasing Cash Holding Cap From Rs 20 Lakh to Rs 1 Crore

The Special Investigation Team (SIT) that works on black money control operations has recommended the central government to cap the cash holding limit at Rs one crore instead of its earlier suggestion of Rs 20 lakh. According to a report, the ...

Indian Money in Swiss Banks Rise By Over 50% to Rs 7,000 Crore

According to the official annual data released on Thursday by the Swiss National Bank (SNB), the country's central banking authority. It said that the money parked by Indians in Swiss banks rose over 50 percent to CHF 1.01 billion (Rs 7,000 ...

Earn Rs. 5 Crore By Disclosing Benami Transaction And Black Money Through IT Dept Scheme

With its newly announced "Income Tax Informants Reward Scheme, 2018" that supersedes all previous schemes by the tax department, tax informants or individuals who help the Centre unearth black money stashed abroad or report any benami transaction or property, will be ...

Rs. 2000 Notes Unlikely To Be Banned

After rumours came in that there is a high possibility of the government discontinuing Rs. 2000 bank note, Shiv Pratap Shukla, Junior Finance Minister, cleared the air on the issue and said that government is not considering any such proposal. ...

NRIs, Wives Of NRIs and Nominee Of MFs Face Prosecution Notices

Income tax dept has served notices to NRIs who might have sold properties in last few years, NRI wives who do not file ITRs and nominees of mutual funds as well as those who had deposited a sum exceeding Rs. 1 ...

Govt To Not Discontinue Rs. 2000 Note; Test Rs. 10 Plastic Note

On Friday, the government said that there is no plan to discontinue Rs. 2000 currency note which was introduced in the wake of demonetisation in November 2016. Also, it informed the Lok Sabha about its decision of conducting field trial of ...

1.2 Lakh Companies Deregistered in Black Money Fight

The government of India has decided to deregister names of 1.20 lakh companies from its official records for non-compliance, reported PTI. The decision is with regard to the government's ongoing efforts to curb illicit fund flows. Nearly 2.26 lakh companies ...

I-T Department Reports Undisclosed Income Of Rs 7,961 cr

On November 8, 2016, Narendra Modi government scrapped high currency notes of Rs. 500 and Rs. 1000 to crackdown illicit money, practise of tax evasion and corruption from the system. Post the demonetisation move, the Income tax department today reported undisclosed ...

Filed Revised ITR Post Note Ban And Erred On It: Get Ready For Higher Tax Rate Notice

If you are among one of those who after the November demonetisation exercise have filed a revised ITR and the department has unearthed a fraud on your part by way of hiding illicit money, you are sure to get a higher ...

Mandatory Linkage Of Property With Aadhaar: Union Housing Minister

As another big move to crack down illicit money which is largely concentrated in property, Union Home Minister after the demonetisation is making a call to mandatorily link aadhaar with property. "Seeding Aadhaar to property transaction is a great idea but ...

IT Dept To Issue 1 Lakh Notices For Huge Cash Deposits Post Demonetisation

The income tax department this week will begin to issue notices to as many as 1 lakh individuals as well as entities for depositing huge cash post the demonetisation drive that the government announced a year back. The notices shall be ...

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