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PMGKY: I-T asks blackmoney holders to make honest declarations
Thu, Mar 09, 2017
The I-T department today nudged blackmoney holders to make "honest" disclosures under the tax amnesty scheme -- PMGKY -- warning that non-declaration could attract 77.25 per cent tax and penalty along with prosecution.
Nine lakh accounts under Operation Clean Money 'doubtful'
Thu, Feb 16, 2017
Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.
Income Tax Department launches Operation Clean Money to verify demonetisation data with tax payers' filings
Tue, Jan 31, 2017
India's Income Tax Department has launched Operation Clean Money on Tuesday to verify deposited demonetised notes with tax payer's IT filings.
Foreign accounts, property, bullion can't be disclosed under Pradhan Mantri Garib Kalyan Yojana Scheme: Govt
Wed, Jan 18, 2017
Drawing a line for disclosure under the new tax evasion amnesty scheme, the government on Wednesday said only unaccounted domestic cash holding can be declared through it and not jewellery, stocks, immovable property or overseas accounts.
War on black money round up: Seven initiatives that PM Modi took in 2016
Fri, Dec 30, 2016
From voluntary disclosures to forced restrictions, this year saw many initiatives by the government as they tried to curtail black money usage in India.
Demonetisation: 60 lakh depositors put Rs 7 lakh crore in banks since November 8
Fri, Dec 30, 2016
As many as 60 lakh individuals and firms have made large deposits totalling an astonishing Rs 7 lakh crore in old notes, top government officials said today while warning that every penny of tax will be extracted as the black money does not become white by merely putting it in banks.
Income Tax: This is how the new amnesty scheme looks like
Tue, Nov 29, 2016
The Government on Monday introduced a new Bill in Lok Sabha to tax newly deposited undeclared income as part of demonetisation drive.