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  • Five years of demonetisation: Black Money deals down 75-80%; sales outstrip new supply Nov 17, 2021 01:12 PM IST

    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? Nov 12, 2021 07:36 AM IST

    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 Oct 15, 2021 04:33 PM IST

    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 Oct 10, 2021 01:15 PM IST

    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 Oct 04, 2021 07:14 PM IST

    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 Sep 12, 2021 08:50 PM IST

    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 Jun 19, 2021 02:19 PM IST

    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 Feb 01, 2021 08:07 PM IST

    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 Jan 12, 2021 09:27 PM IST

    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.

  • 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.

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