Black Money

The department's I-T (Investigation) wing said in a public notice that it had opened the 24×7 control room at the Civic Centre in central Delhi and also issued a toll-free number — 1800111309.

Not all residents leaving India require tax clearance certificates: FinMin

The ministry added that only in certain cases would an individual need to obtain such a tax clearance.

Black Money Act amendment to remove penalty on non-disclosure of foreign assets worth Rs 20 lakh

Currently under the Act even if the taxpayers fail to disclose a foreign asset worth Rs 5 lakh, they have to pay a Rs 10 lakh penalty on it.

Banking Central | Loathed more often than loved, here's a parting note from Rs 2,000 notes

Truth be told, we weren’t supposed to stay around for a long while. We were a stop-gap arrangement to speed up the remonetization of the economy after the 2016 demonetization exercise

Rs 2,000 note helped keepers of black money: Chidambaram

The former finance minister's attack on the BJP government comes after the Reserve Bank of India (RBI) on Friday made a surprise announcement of withdrawal of Rs 2,000 currency notes but gave the public time till September 30 to either deposit the Rs 2,000 notes in accounts or exchange them at banks.

Nripendra Misra hails withdrawal of Rs 2,000 notes as big blow to black money

“Honourable Prime Minister’s determination to curb black money and tax evasion will get strengthened by the withdrawal of Rs 2000 notes. PM has always viewed parallel economy of black money as a curse to sound economic management. He has shown his faith by this measure.”

Rs 2,000 notes withdrawal will help curb black money to 'great extent': Former RBI official

Former Reserve Bank Deputy Governor R Gandhi on Friday said the withdrawal of the Rs 2,000 bank notes will help in curbing black money to a "great extent" because people are hoarding the high-value currency.

The anti-demonetisation petitions – an exercise in futility

The Supreme Court has dismissed the petitions against demonetisation and held it was legal and constitutional. Six years after the event, one wonders what impact any ruling could have. By holding the demonetisation as valid in law, this ruling has created a precedent for future demonetisation

Rs 1.25 lakh cr of black money confiscated by Modi govt: Ashwini Vaishnaw

The minister for railways said similarly, to ensure transparency, benami properties worth Rs 4,300 crore were attached and registration of 1.75 lakh companies cancelled.

I-T dept detects Rs 100 crore black income after raids on Bihar-based business groups

Unaccounted cash and jewellery worth more than Rs 5 crore were seized and 14 bank lockers sealed during the operation, said the Central Board of Direct Taxes, which frames policy for the tax department.

I-T dept detects Rs 1,300 crore black income after raids on Karnataka realty sector

The raids were conducted on October 20 and November 2 at about 50 premises in Bengaluru, Mumbai and Goa.

Supreme Court defers hearing on plea seeking steps to recover black money stashed in foreign banks

Tuesday, the Supreme Court postponed hearing a case that senior attorney the late Ram Jethmalani and others filed in 2009 asking for actions to be taken to retrieve black money deposited in overseas institutions.

Income Tax department finds Rs 150-crore black income after raids on hospitals in Haryana, Delhi-NCR

According to the CBDT, the Income-tax authorities raided various business groups that operate hospitals in Haryana and Delhi-NCR and found black income totaling more than Rs 150 crore. The searches began on July 27 and involved 44 locations belonging to these unnamed groups.

Rs 14,820 crore tax demand raised under black money law on foreign income: Govt

Finance Minister Nirmala Sitharaman stated in a written response to a question in the Lok Sabha that deposits made in unreported foreign bank accounts at HSBC resulted in the disclosure of undeclared income totaling more than Rs 8,468 crore and the imposition of fines totaling more than Rs 1,294 crore.

I-T dept detects Rs 224 cr black income after raids on Maharashtra-based start-up group

The group is engaged in wholesale and retail of construction materials and has a pan-India presence with an annual turnover exceeding Rs 6,000 crore, the Central Board of Direct Taxes, the policy-making body for the tax department, said in a statement.

Black money: Budget 2022 deals another blow to tax cheats but implementation key

Unexplained borrowings come under the scrutiny of the taxman and will be added to income.

Five years of demonetisation: Black Money deals down 75-80%; sales outstrip new supply

In post-DeMo Q4 2016-Q3 2021, sales of approximately 10.37 lakh units outstripped new launches that were at approximately 9.04 lakh units

5 years of demonetisation: Have things changed for real estate?

It cannot be said that cash components have been entirely eliminated from the market. However, they have become a far less influential factor driving property purchases. Real estate experts say that a permanent solution involves revising circle rates frequently and promoting electronic registration of properties.

IT department detects Rs 184 crore black money after raids on Mumbai realtor, linked entities

The searches were launched on October 7 at 70 premises in Mumbai, Pune, Baramati, Goa and Jaipur, the Central Board of Direct Taxes (CBDT), the policy making body for the tax department, said in a statement.

I-T department detects Rs 250 crore black money after raiding 2 business groups in Tamil Nadu

The CBDT said the group engaged in the business of chit fund was running an unauthorised business and all the investments and payouts of more than Rs 400 crore in the last few years were done entirely in cash.

I-T Department unearthed huge no of black assets, overseas accounts after recent raids: CBDT

Several incriminating documents, loose sheets, diaries, emails and other digital evidence have been unearthed which indicates ownership of a large number of foreign bank accounts and immovable properties, unreported to the department, it said in a statement.

India to get 3rd set of Swiss bank details this month; info on real estate assets included for 1st time

Resident and non-resident Indians, as well as Indian companies, would account for a sizeable number in the overall list of those figuring in this year's exchange of information by Switzerland, officials privy to the development said.

Bring white paper on black money stashed abroad: Congress to govt

Congress spokesperson Gourav Vallabh said the government should also come out with a complete list of measures that it has undertaken to check the stashing of black money in foreign banks.

I-T raids on Kolkata group leads to over Rs 300-crore black money

CBDT said the action 'resulted in unearthing of incriminating evidence revealing various shell or paper entities being used for raising bogus share capital and un-secured loans'.

CBDT will now let you register complaints of tax evasion, black money and benami properties online

This portal will be available on the website of the Department to receive any possible complaints of tax evasion, foreign undisclosed assets and complaints regarding benami properties.