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Black Money News
Demonetisation, GST to widen tax base, make cash dealing difficult: Jaitley
Sat, Jul 22, 2017
Jaitley said the government has come out with laws to contain overseas black money as well as those dealing with domestic black money and cracking down on shell companies.
Income Tax dept detects Rs 19,000 crore black money in ICIJ, HSBC cases
Fri, Jul 21, 2017
"Besides, concealment penalty of Rs 1,287 crore was levied in 162 cases and 199 criminal prosecution complaints were filed in 84 cases," Finance Minister Arun Jaitley pointed out.
No more chances to deposit demonetised notes, Govt tells Supreme Court
Tue, Jul 18, 2017
The Central government on Monday refused to give another opportunity to exchange demonetised currency notes of Rs 500 and 1,000 to those who couldn`t do it by the deadline of December 30, 2016, saying this would defeat the very objective of eliminating black money.
Sebi restricts use of P-Note derivatives
Sun, Jul 09, 2017
Now, participatory notes or Offshore Derivative Instruments (ODIs) where the derivative is underlying can be issued only for the purpose of hedging with respect to the equity shares held.
Money in Swiss banks: India slips to 88th place; UK on top
Sun, Jul 02, 2017
India has slipped to 88th place in terms of money parked by its citizens with Swiss banks, while the UK remains on the top.
Tough action against those helping hide black money: PM Modi
Sun, Jul 02, 2017
Demonetisation Impact: Housing credit growth falls to 16% in FY17, says Icra
Wed, Jun 21, 2017
The overall housing credit growth in India declined by 16% to Rs 14,400,00 crore in FY17 as compared to Rs 12,400,00 crore in FY16 on account of demonetisation in the second half of the last year, which resulted in decline in number of new project launches with investors deferring their purchase decisions.
Black money: Switzerland ratifies auto info sharing with India
Fri, Jun 16, 2017
Adopting the dispatch on introduction of the AEOI, a global convention for automatic information exchange on tax matters, the Swiss Federal Council said the implementation is planned for 2018 and the first set of data should be exchanged in 2019.
SEBI mulls ways to check fraudulent tax benefits via stocks
Sun, Jun 11, 2017
Regulator Sebi is mulling tightening its investigation and enforcement mechanism to check misuse of stock market platform for generating "bogus" long-term capital gains to launder black money.
Income Tax, Aadhaar and PAN: How to link, correct name mismatch issues
Sat, Jun 10, 2017
Supreme Court on Friday upheld a law that will make the usage of Aadhaar mandatory while filing for IT returns for those who have it and its linkage to the PAN card. We tell you how you can link the two.
Despite demonetisation, Bengaluru, New Delhi & Mumbai record healthy growth in office rental in Q1: Knight Frank
Tue, Jun 06, 2017
Highlights: 1. CBD area of Bengaluru registered 4.7% growth in the office rental space in Q1 of 2017 2. Connaught Place area of New Delhi recorded 4.3% growth in office rental in Q1
100% penalty if Rs 2 lakh or more transacted in cash, warns IT Department
Fri, Jun 02, 2017
Income Tax Department, in an advertisement, has warned people for not transacting in cash for Rs 2 lakh or more.
Govt active over selling Air India's property;SEBI wants $1000 fees on p-notes to curb black money
Tue, May 30, 2017
This segment of News Tonight Superfast brings to you important updates about the happenings of the day.
Income Tax Department identifies over 400 benami transactions so far
Wed, May 24, 2017
The Income Tax Department (I-T) has announced on Wednesday of identifying over 400 benami transactions which include deposits in bank accounts, plots of land, flat and jewellery.
3 years of Modi Government: Citizens give thumbs up
Wed, May 17, 2017
Modi, along with his government, went ahead and boldly introduced agenda's like Make In India, Housing for All, Swachh Bharat Abhiyan, Jan-Dhan Yojana and many others.
IT raids 22 locations linked to Lalu's "benami'' land deals
Tue, May 16, 2017
Besides the Rashtriya Janata Dal supremo, the IT raids were also carried out on the premises of party MP P.C. Gupta`s residence as well as several businessmen and real estate agents in Delhi and Haryana`s Gurugram and Rewari.
Digitisation will curb shadow economy, says Union minister Arjun Ram Meghwal
Sun, May 14, 2017
Union minister Arjun Ram Meghwal on Sunday said the government's digital initiative is crucial to curb the shadow economy which involves illicit economic activities like black market transactions and undeclared income.
Sharing details of paper import for Rs 500, Rs 2,000 notes to affect India's sovereignty, says RBI's bank note printing firm BRBNMPL
Sun, May 14, 2017
Replying to an RTI query, RBI owned bank note printing company BRBNMPL has declined to share any details related to import of paper for printing of the high- denomination notes citing reason that it would affect India's sovereignty and may lead to incitement of an offence
Post-demonetisation demand for second homes market likely to fall in 2017: Experts
Tue, May 09, 2017
Post demonetisation, the demand for second homes market in India is likely to fall in 2017 and following two years on account of reforms introduced by the government.
CBI unearths 393 shell companies used to divert Rs 2,900 crore
Sun, May 07, 2017
According to sources, CBI has uncovered 393 shell companies which were used to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money.