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  • CBDT sets March 31 deadline to complete Panama, Paradise Papers probe Feb 24, 2020 08:06 PM IST

    CBDT sets March 31 deadline to complete Panama, Paradise Papers probe

    CBDT seeks to complete this investigation soon, so other investigation agencies can expedite their investigation. A source in the Enforcement Directorate told Moneycontrol “Currently we are investigating these cases in Foreign Exchange Management Act, once tax department start filing prosecution cases we have base to convert these cases into Prevention of Money Laundering Act”.

  • Govt issues notices in 422 cases involving Rs 12,000 cr under foreign black money law Feb 11, 2020 08:10 PM IST

    Govt issues notices in 422 cases involving Rs 12,000 cr under foreign black money law

    Minister of State for Finance Anurag Singh Thakur said the Income Tax Department has taken continuous and concerted actions under the Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act since it came into force on July 1, 2015.

  • Gold Hallmarking | Should the consumer and industry worry? Jan 21, 2020 11:16 AM IST

    Gold Hallmarking | Should the consumer and industry worry?

    Though the implementation is slated for January 15, 2021, it is uncertain how the government is prepared for the infrastructure and logistics challenges. In addition to the serious FDI roadblocks this creates, it is unclear how this disruption will affect the jewellers or benefit the consumers.

  • Delhi Assembly Election: I-T sets up control room with toll free number for black money info Jan 10, 2020 10:38 AM IST

    Delhi Assembly Election: I-T sets up control room with toll free number for black money info

    The facility will also host a toll-free number- 1800117574 - where people can inform the department about any activity of use of money power, illegal distribution of cash among other such election-related crimes.

  • Black money probe: Tax haven trusts come under scanner for Swiss bank accounts Jan 05, 2020 12:15 PM IST

    Black money probe: Tax haven trusts come under scanner for Swiss bank accounts

    In addition, several individuals who are suspected to have moved abroad after evading taxes back in India are also being probed and their banking details are in the process of being shared by the Swiss authorities with their Indian counterparts.

  • Policy | Electoral bonds promote what they are supposed to prevent Dec 04, 2019 10:25 AM IST

    Policy | Electoral bonds promote what they are supposed to prevent

    Electoral bonds have given detractors a great tool to sharpen their campaign against the Union government, which has been accused of keeping the form and trappings of democracy, but killing the spirit of democratic institutions.

  • Three years after DeMo, you can still buy property by paying 30% cash in resale market Nov 27, 2019 02:47 PM IST

    Three years after DeMo, you can still buy property by paying 30% cash in resale market

    Primary sales market in Tier 1 cities offers limited scope for 'black' money transactions; Tier 2 and 3 cities present a different picture

  • India's Swiss black money probe reaches 'software' firm in Andheri bylane Sep 26, 2019 07:14 PM IST

    India's Swiss black money probe reaches 'software' firm in Andheri bylane

    Indian tax authorities have sought the Swiss government's assistance in its probe against this company, after which Switzerland's Federal Tax Administration (FTA) has issued a notice to the firm asking it to nominate a person for exercising their right to be heard.

  • Govt has no official estimation of black money in the country: MoS Finance Jul 23, 2019 06:24 PM IST

    Govt has no official estimation of black money in the country: MoS Finance

    Thakur was responding to a query on estimation of total black money in the country and the reasons behind such amount generation.

  • South Korea new favourite for Indian offshore deposits with 900% surge in 2018 Jul 12, 2019 07:30 PM IST

    South Korea new favourite for Indian offshore deposits with 900% surge in 2018

    The timing in the shift of destination coincides with Switzerland agreeing to share data of Indians holding Swiss bank accounts with the Indian government.

  • India to get Swiss bank details of all Indians from September; accounts closed in 2018 also included Jul 10, 2019 07:30 PM IST

    India to get Swiss bank details of all Indians from September; accounts closed in 2018 also included

    The details that Switzerland would share with Indian tax authorities under the Automatic Exchange of Information (AEOI) framework would include account numbers, credit balance and all kinds of financial income for each Indian client of every Swiss financial institution.

  • Politics | Report on black money fails to address core issue Jun 26, 2019 03:35 PM IST

    Politics | Report on black money fails to address core issue

    Forget the recovery, India doesn’t even have a proper definition of black money. It’s quite akin to the international community fighting the menace of terrorism for decades without having a universally acceptable definition for it.

  • Disclose overseas income in tax returns or face penal action Jun 26, 2019 09:07 AM IST

    Disclose overseas income in tax returns or face penal action

    Wilful failure to declare information relating to foreign income and assets in the return of income may lead to prosecution with punishment of rigorous imprisonment of up to seven years

  • Difficult to provide ‘credible estimate’ of overseas black money: Parliamentary panel Jun 25, 2019 09:22 AM IST

    Difficult to provide ‘credible estimate’ of overseas black money: Parliamentary panel

    The parliamentary panel on finance of the 16th Lok Sabha, in its report submitted to the Lower House on Monday, has said it is difficult to provide a “credible estimate” of the black money stashed away overseas by Indians

  • After I-T raids, Shiv Sena picks holes in demonetisation Apr 18, 2019 09:56 PM IST

    After I-T raids, Shiv Sena picks holes in demonetisation

    The Sena, a BJP ally, said in the last few days, there have been I-T raids on prominent political parties and their leaders in which large amount of cash is claimed to have been confiscated.

  • Politics | IT raids in Tamil Nadu unlikely to affect poll outcome Apr 18, 2019 04:04 PM IST

    Politics | IT raids in Tamil Nadu unlikely to affect poll outcome

    Corruption and the enticement of voters, either through cash or other benefits, is not looked down upon by a majority of people in the state. This is a disturbing fact.

  • SC to hear I-T dept plea against quashing of black money case involving Chidambaram's family Apr 16, 2019 07:40 PM IST

    SC to hear I-T dept plea against quashing of black money case involving Chidambaram's family

    A bench of Chief Justice Ranjan Gogoi and Justice Sanjiv Khanna issued notice to Chidambaram's wife Nalini and their son Karti, who is contesting Lok Sabha election from Sivaganga constituency in Tamil Nadu.

  • Sharad Pawar slams PM Narendra Modi over black money issue Apr 12, 2019 08:07 AM IST

    Sharad Pawar slams PM Narendra Modi over black money issue

    "The Prime Minister had promised that if he failed to recover black money in 100 days, he is ready for punishment ofhanging in public.

  • Govt effort to curb black money in polls futile if identity of donors not known, says SC Apr 11, 2019 08:55 PM IST

    Govt effort to curb black money in polls futile if identity of donors not known, says SC

    The Centre vehemently supported the scheme saying that the purpose behind it is to eliminate the use of black money in elections and asked the court not to interfere with it at this stage and examine the whether it has worked or not only after the elections.

  • Black money amounting to Rs 9.41 lakh crore stashed abroad between 1990 and 2008: Report Feb 21, 2019 05:35 PM IST

    Black money amounting to Rs 9.41 lakh crore stashed abroad between 1990 and 2008: Report

    The amount was calculated by NIFM at 'current value' in August 2014, when the institute submitted its study to the NDA government.

  • K Chandrasekhar Rao suggests 'amnesty scheme' to disclose black money Feb 19, 2019 05:20 PM IST

    K Chandrasekhar Rao suggests 'amnesty scheme' to disclose black money

    Every Indian should be a proud tax payer and partner in nation building, the chief minister said in a official press release.

  • Rs 1.30 lakh cr undisclosed income detected post anti-black money measures Feb 01, 2019 01:25 PM IST

    Rs 1.30 lakh cr undisclosed income detected post anti-black money measures

    "Anti-black money measures including demonetisation led to the discovery of undisclosed income of Rs 1.30 lakh crore, seizure of Rs 50,000 crore," Goyal said while presenting Interim Budget for 2019-20 in the Lok Sabha.

  • Two out of five registered companies inactive in India Nov 28, 2018 01:45 PM IST

    Two out of five registered companies inactive in India

    As on October 31, 2018, there were 18.10 lakh registered companies in India, of which 11.16 lakh were active

  • TRS MP's firm reports Rs 60-cr black money after income tax raids in Telangana Nov 09, 2018 03:00 PM IST

    TRS MP's firm reports Rs 60-cr black money after income tax raids in Telangana

    "The undisclosed income detected in this case is for various assessment years and the firm has assured it will soon pay the due tax," a senior official said.

  • Editor's Take | Two years on, has demonetisation achieved its objective? Nov 08, 2018 03:27 PM IST

    Editor's Take | Two years on, has demonetisation achieved its objective?

    Sakshi Batra gets in discussion with Ravi Krishnan, Deputy Executive Editor, Moneycontrol to understand the extent of success of demonetisation.

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