Blackmoney

Black money clearance for people leaving India: who is impacted?

Current rules already mandate obtaining such clearance in terms of income tax, wealth tax and gift tax. In the Union Budget 2024, the government has extended its applicability to even black money clearance.

With his Rs 2,000 knock, Shaktikanta Das deals a body blow to black-money hoarders

The segment of society that will be hit by the RBI's decision to withdraw the Rs 2,000 note will be the tax cheats holding crores of these high denomination notes. They will now come under the lens of tax authorities

Indians stashed over Rs 20,000 crore in Swiss banks in 2020 – highest in 13 years

India was placed at 51st place, ahead of countries like New Zealand, Norway, Sweden, Denmark, Hungary, Mauritius, Pakistan, Bangladesh and Sri Lanka in terms of foreign clients' money in Swiss banks.

More than Goddess Lakshmi on currency notes, what India needs is Muni Narada on electoral bonds

The interesting part about electoral bonds is that no one can ask questions about the source of money. It is not an exaggeration to say that in barely three years of its existence, these instruments have turned the whole process of political funding in India even more opaque and mysterious.

Macro Matters | Was consumer spending in 2017-18 really lower than in 2011-12?

The government should make the NSO report public, so that it can be debated

Ready to pay political price for steps taken for better India: PM Modi

Addressing a gathering here, he said his government is committed to developing a development-centric eco system which is free of corruption and is citizen centric.

Ananth Kumar challenges Rahul Gandhi for open debate on blackmoney

"The Congress is synonymous with blackmoney, corruption and scams," the Union Chemicals and Fertilisers Minister alleged while talking to reporters here this evening.

Rs 141.13 cr worth of new Rs 2000, Rs 500 notes seized: FM

Of this amount, Rs 110 crore was seized by the IT Department, Rs 4.54 crore seized by ED, Rs 26.21 crore by the CBI and Rs 38 lakh by the DRI, Finance Minister Arun Jaitley said during Question Hour.

P-notes investment drops to Rs 1.70 lakh cr at February-end

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas ones who wish to be part of the Indian stock markets without registering themselves directly. But they still need to go through a proper due diligence process.

How much blackmoney has been recovered: Oppn asks Govt

Government today came under attack from Opposition parties in Lok Sabha for "failing" to come out with an estimate of recovery of blackmoney as a result of demonetisation, which was cited as a major aim of banning the high-value notes.

Over 1,100 searches, 5,100 notices in demonetisation so far:FM

This led to seizure of valuables worth over Rs 610 crore, of which as high as Rs 513 crore were in cash.

Reduce indirect taxes in upcoming Budget: P Chidambaram to govt

Asserting that demonetisation will not kill blackmoney, Chidambaram said that the government should strike at the menace.

Institutional identity of RBI has been damaged: YV Reddy

Speaking exclusively to CNBC-TV18 Former RBI Governor YV Reddy said that the institutional identity of the banking regulator has been damaged. It is a full-service central bank, he said, adding that the emphasis is only on the monetary policy.

Proof of tax paid, 4-yr money lock-in must to avail of PMGKY

In a clarification on Provisions of the Taxation and Investment Regime for PMGKY, CBDT said the scheme will not be applicable to anyone facing charges under the Foreign Blackmoney Act.

EC seeks ban on anonymous contributions of Rs 2000 to parties

Seeking to stem the flow of blackmoney in polls, the Election Commission has urged the government to amend laws to ban anonymous contributions of Rs 2000 and above made to political parties.

PM Modi did nice surgery, but patients suffering: Sharad Pawar

Pawar, however, refrained himself from launching a direct attack on Modi, even as his nephew and party stalwart Ajit Pawar took a dig at the Prime Minister for calling himself a "fakir", at a gathering of NCP workers here with his uncle in attendance.

Cabinet moves in to tax deposit above threshold, post note ban

The move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the 500 and 1,000 rupee notes were banned, which authorities apprehend may be the laundered blackmoney.

Note ban: Politicians have now become columnists, rues Jaitley

Terming government's decision to demonetise Rs 500/Rs 1000 notes as a "puzzle", Chidambaram had yesterday said that if the idea was to address the issue of blackmoney, why has it decided to introduce Rs 2000 denomination notes.

Deposits above Rs 2.5 lakh to face tax, penalty on mismatch

"The (tax) department would do matching of this with income returns filed by the depositors. And suitable action may follow," Revenue Secretary Hashmukh Adhia said.

Demonetisation doesn't address blackmoney problem: Yechury

Government's move to demonetise high-value currency notes does not address the problem of blackmoney stashed abroad or invested in real estate or gold, the CPI(M) said today, demanding that the names of top 100 defaulters of bank loans be made public.

Sensex recovers amid Trump win & black money curb, down 339 pts

Equity benchmarks recovered sharply from day's lows on Wednesday amid the victory of Donald Trump in US presidential elections and the government's move to curb the black money. Recovery in global peers and short covering in healthcare & select banks helped the market cut losses.