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ITR E-filing Increases By Over 17% Post Demonetisation
As per the official data, on an individual basis filing of income tax return grew by over 23% while ITR filing through online mode or e-filing registered an increase of 17% post the demonetisation drive of the government that resulted in ...

21,000 People Disclosed Rs 4,900 cr Black Money Under PMGKY
Black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetization, an official said. The Income Tax Department, a top government official ...
Black Money: Rs 13,715 Crore Undisclosed Income Detected
The income tax department detected undisclosed income of Rs 13,715 crore through surveys in 2016 -17, Minister of State for Finance Santosh Gangwar said. Also, as many as 126 billion new taxpayers were added in the last financial year, he said ...
Only Rs 5000 Crore Declared Under PMGKY For Black Money
Response to the Pradhan Mantri Garib Kalyan Yojana (PMGKY) has "not been so good", with only Rs. 5,000 crore unaccounted income being declared under the amnesty scheme, the government said today. The scheme was launched in December last year to enable ...
High Value Transactions To Be Reported Under SFT By May 31
As yet another step to curb black money in the system, Statement of Financial Transaction or SFT has been introduced. The new document has to be necessarily filed by different individuals including professionals, financial institutions as well as business set-ups by ...
What Is A Shell Company?
Shell companies are used as vehicle by several large companies to either hideaway business title details from public or law enforcement. As a general conception, Shell company deemed as an illegal entity has a legal framework which though engages in ...
I-T Notice To 550 People For Depositing Over Rs 15 Lakh
The Income Tax has served notices to 550 account holders in Himachal Pradesh for depositing over Rs 15 lakh in the banks, post demonetisation, a senior official said. "These depositors would have to disclose their source of income and in case ...
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