Special Investigation Team

The SIT member’s antigen test came out positive, an official said, adding that other members of the probe team will also be tested and all protocols will be followed.

HSBC, UBS stop issuing P-Notes as India steps up clampdown

A number of foreign investors including HSBC and UBS have stopped issuing controversy-ridden P-Notes as regulatory and enforcement agencies step up their clampdown on misuse of this once-popular instrument among foreigners to invest in Indian markets.

5 foreign funds issued P-notes to Indian nationals: Sebi

In a crackdown on alleged misuse of P-Notes for round-tripping, markets regulator Sebi has found five foreign funds to have issued these controversy- ridden offshore investment instruments to Indian nationals.

Regulating P-notes: Sebi writes to SIT seeking clarification

Markets regulator Sebi has sought clarification from the Special Investigation Team, set up by Supreme Court to check black money, regarding stricter norms for Participatory Notes (P-notes) used by overseas investors.

We plan to bring MFIs under State Act, says Maha minister

In an interview with CNBC-TV18 Deepak Kesarkar, Minister of State for Home, Maharashtra said that there have been several complaints from districts across the state regarding harassment of women by MFIs.

SIT to crack down on P-notes, asks Sebi to provide data: Report

SIT has asked Sebi to provide details on investments through P-notes and including complete transfer trails and beneficiary owners, the BS report states.

SIT asks RBI to share black money data with govt agencies

The SIT headed by Justice M B Shah (retd), in an August 11 letter to the RBI governor, impressed upon need to establish an institutional mechanism for sharing of data and stressed on effective sharing of information between various government departments.

I-T dept detects Rs 22,000 cr undisclosed income in 2 years: FM

As part of enforcement measures the department has conducted searches in 990 groups of assessees during the last two years (2014-15 and 2015-16), seizing undisclosed assets worth Rs 1,474 crore, he said in a written reply to a question in the Lok Sabha.

'Adopt less-cash economy approach first to fight black money'

The association has urged Finance Minister Arun Jaitley to first focus on less-cash economy in its drive to curb black money.

Possible to slash tax rates if all pay taxes: Goyal

There is a "possibility of reducing tax rates", if everyone pays taxes, says Power Minister Piyush Goyal.

Black money SIT holds meet;reviews Panama, foreign stash cases

Officials said the meeting here chaired by SIT Chairman Justice (retd) M B Shah also reviewed the reports submitted to it by the Income Tax department, FIU and the Enforcement Directorate (ED) in the 'Panama Papers' list case in which at least 500 Indian names have been published.

'Panama Papers': Black money SIT to investigate list

The list has been brought by the International Consortium of Investigative Journalists (ICIJ) in collaboration with news publications across the globe including India and pertains to offshore investments made by Indians between a period of 1977 and 2015.

Investment via P-Notes rises to Rs 2.58 lakh cr in October

This was the second successive month when investment through this route increased. The total outstanding value of P-Notes witnessed a steady rise since January and the momentum continued till March.

Black money: CBDT reviews HSBC accounts, ICIJ cases

The Income Tax department, till now, has filed over 140 prosecution complaints in courts against the HSBC account holders while over 50 notices have been issued in cases related to the ICIJ data.

SIT on black money for greater vigilance to check shell cos

The Special Investigation Team (SIT) in its third report on black money dealing with 'Shell Companies & Beneficial Ownership' noted that 2,627 persons are directors on more than 20 companies in violation to Companies Act, 2013.

Blackmoney: I-T dept begins action agnst mining firms

The Income Tax department has begun a crackdown against black money being generated by the rich mining sector with the taxman initiating a detailed scrutiny of a number of such exploration and production companies across the country.

Rs 6500cr of black money disclosed in compliance window: PM

In his address to the nation from the ramparts of the Red Fort on the 69th Independence Day, he said several important steps including agreements with countries like the US for real time sharing of information on Indian nationals holding assets abroad have been taken.

Sebi says ready to revisit P-Notes on SIT suggestions

P-Notes are instruments issued by registered foreign institutional investors to overseas investors, who wish to invest in the domestic stock markets without registering themselves with the market regulator.

SIT asks Sebi to clamp down on tax evaders, P-Note misuse

Concerned over flow of black money into stock market, the Supreme Court-appointed SIT on Friday asked regulator Sebi to compulsorily identify real owners of foreign funds coming through the controversial P-Note route and also prosecute those using equities for tax evasion

Black Money: ED attaches assets worth over Rs 9,000 cr

The agency which probes financial crimes under prime laws of the Prevention of Money Laundering Act (PMLA), the Foreign Exchange Management Act (FEMA) and the repealed Foreign Exchange Regulation Act (FERA) has broken all records of lodging complaints and prosecuting the accused of financial frauds, hawala and money laundering.

Black money: SIT to file fresh status report in SC

The Special Investigation Team (SIT) on black money is expected to file a fresh status report in the Supreme Court with regard to the action taken by various investigative agencies in cases related to illegal funds stashed abroad by Indians and tax evasion.

Black money: I-T dept conducts survey at HSBC bank in Mum

The latest IT action comes at a time when the tax department is expected to file a complaint against HSBC Bank, Geneva, for allegedly "abetting" tax evasion in India by way of unauthorisedly operating accounts of its citizens in its overseas branch.

Budget 2015: FM may announce important policies to combat black money

Finance Minister Arun Jaitley is likely to announce policy initiatives on some of the key recommendations made by the Special Investigation Team (SIT) on black money to combat the menace of illicit funds, stashed within the country and overseas, when he presents the Budget on February 28.

Sunanda case: Tharoor faces second round of questioning

Tharoor was quizzed for over four-and-a-half hours at the Anti Auto Theft Squad (AATS) office in South Delhi in two sessions. In the afternoon session, Tharoor's driver Bajrangi was also quizzed along with the Congress MP.

Black money: SIT widens probe as new names emerge

Special Investigation Team (SIT) on black money today decided to widen its probe as new names of Indians with Swiss bank accounts have come up but made it clear that legal action will be taken only after verifying facts.