Black money

IT dept detects Rs 220 crore black income after raids on TN-based tiles manufacturer

The Central Board of Direct Taxes (CBDT), that frames policy for the tax department, meanwhile, said it was fully prepared to check and monitor the role of money in influencing voters.

वित्त मंत्रालय नहीं साझा करेगा स्विस बैंक खातों की डिटेल, काले धन का ब्यौरा देने से भी किया मना

Recipient’s consent for cash deposit will curb black money; illegal deposits

Industry sources say that by putting these checks and balances, the government will be able to curb the illegal movement of money.

$505 bn outflow of black money from India ‘heavily exaggerated’: DRI

Switzerland has recently begun reporting past gold exports to the IMF and we will incorporate that new trade data into our forthcoming annual update.

Switzerland to ease tax info exchange norms on stolen data

Switzerland today said it will relax norms for providing information to foreign nations seeking banking details about their citizens on the basis of 'stolen data', a move that would benefit India in its fight against the blac

PM Narendra Modi to hold talks with President of Swiss Confederation, black money on agenda

Prime Minister Narendra Modi will hold talks with President of Swiss Confederation Johann Schneider Ammann in Geneva this morning.

I-T forms for black money amnesty scheme, here’s what you have to fill in

The Income Tax Department on Thursday came out with forms through which black money holders would be required to disclose their undisclosed income under the Income Disclosure Scheme 2016 which came into effect from June 1.

Sanjay Bhandari case: IT dept to book case under new blackmoney Act

The Income Tax department is mulling booking defence consultant Sanjay Bhandari, said to be linked to Robert Vadra in an alleged benami property transaction in London, under the stringent anti-blackmoney law in connection wit

Domestic blackmoney window: Income Tax dept notifies declaration forms for untaxed funds

The Income Tax department today notified four new forms for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened this month.

Black money window: IT dept to publish list of asset valuers

The Income Tax department will soon put out a list of registered valuers of various categories of assets for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance wind

Black money amnesty scheme opens today, should you avail and steps to take

The Income Declaration Scheme, 2016, comes into force from June 1, 2016 providing a 4-month opportunity for domestic black money holders to come clean by paying 45 per cent of the undisclosed income to tax authorities.

Undisclosed income a time bomb! Modi government’s Income Declaration scheme 2016 opens: Salient features

It is a one time opportunity to all persons who have not declared income in early years, to come forward and declare such undisclosed income.

Black money: Swiss govt names Lalit Modi, wife among those facing tax probe

Switzerland today named Lalit Modi and his wife Minal among those about whom information and assistance have been sought from its tax department by the Indian authorities.

Compliance window for domestic black money opens tomorrow

The 4-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.

PM Narendra Modi to visit 5 nations; to discuss black money issue with Swiss President

Prime Minister Narendra Modi will embark on a five-nation visit from June 4 which will cover Afghanistan, Qatar, Switzerland, the US and Mexico.

No immunity to those who earned money through corruption: Finance Minister

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 today.

Black money: Switzerland plans ordinance for automatic tax info exchange with India

Switzerland today started the process for an ordinance to put in place a mechanism for automatic exchange of tax information with India and other countries.

Black money scam: India not to press secrecy clause in all cases

While seeking information from a foreign country in connection with black money stashed abroad by Indians, the CBDT has decided to refrain from invoking a specific treaty clause of not informing the person, except in special

Overseas black money cases: India to not press for confidentiality clause

In order to speed up the process of obtaining overseas information against Indians holding black money abroad, the CBDT has asked the taxman to refrain from invoking a specific clause of not informing an individual against wh

NDA has done more work on black money than previous govts: FM Arun Jaitley

Finance Minister Arun Jaitley today said the NDA government has done more work to fish out black money than any other previous government in a short span of two years and all efforts are afoot to book those who have not taken

Income Declaration Scheme 2016: Immunity gaps may deter black money holders

Income Declaration Scheme 2016: The government is providing a 4-month window of opportunity starting June 1, 2016, to tax evaders to gain amnesty by coming clean under the scheme by paying 45 per cent tax.

4-month window to declare black money opens on June 1: Finance Ministry

The four-month window for declaring domestic black money will open on June 1 and those opting to come clean by paying 45 per cent tax and penalty will not be subject to scrutiny and enquiry by tax department.

Seek clarification on black money scheme by May 25: Finance Ministry

With the scheme for domestic black money holders to come clean by paying tax and penalty set to become operational from June 1, the Finance Ministry today asked public to seek clarifications on it by May 25.

India-Mauritius sign landmark tax pact; move aimed at tackling black money, round tripping: Key features

In a landmark move, India and Mauritius have signed a pact for amendment of convention for Avoidance of Double Taxation and Prevention of Fiscal Evasion.

Black money: Govt not to reveal compliance window disclosures list

Disclosures made in the 4-month compliance window beginning June 1 for domestic black money holders to come clean will be kept secret, according to an amendment to the Finance Bill 2016 approved by the Lok Sabha.

No official estimate of black money: Jayant Sinha

There is no official estimation of amount of black money that has been sent to foreign countries by India persons, government said today.

Black money: VAT, state tax offences should attract PMLA charges, says SIT

Violation of state tax laws like VAT should be made a predicate offence attracting action under anti-money laundering laws by agencies like ED which will act as a deterrent against economic crimes...