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    • I-T dept to launch 2nd phase of bank a/cs scrutiny next month

      The I-T department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs 5 lakh for now.

    • Tax dept scans 1-cr accounts under 'Operation Clean Money'

      In a bid to clamp down on unaccounted money funnelled into bank accounts post demonetisation, the tax department has scrutinised and matched as many as 1-crore accounts and asked 18 lakh people to explain the source of fund.

    • Depositing black money in banks will not make it white: FM

      "By just depositing it (unaccounted money), you don't avoid the responsibility of paying tax," he said when asked about surge in deposits in banks following withdrawal of high denomination currency notes.

    • Demonetisation: Demand may take a hit in H2; like Motherson Sumi, says IDFC Sec

      Shirish Rane, Head of Research, IDFC Securities speaking about the impact of demonetisation by the government said demand, particularly that created by unaccounted money, is sure to be impacted.

    • Joshi congratulates Modi for measures against black money

      Senior BJP leader Murli Manohar Joshi today congratulated Prime Minister Narendra Modi on his "blitzkrieg on unaccounted money", calling his measures against black money bold and timely and asserting that it should be supported in full despite short-term inconveniences.

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