Government data show circulation of current notes has outpaced the expansion in India's economy.
Reserve Bank of India will issue new Rs 500 and Rs 2,000 currency notes
These ten locations are still accepting old notes of Rs 500 and Rs 1,000
Panic, anger, praise and confusion - the reaction was mixed as long, serpentine queues were seen outside ATMs, while roadside shops, restaurants and even Metro railway counters refused to accept Rs 500 and Rs 1,000 denomination notes after they were demonitised by the Narendra Modi government from midnight on Tuesday.
Currency notes of Rs 500 & Rs 1,000 denominations scrapped, new notes of Rs 500 & Rs 2,000 to be launched tomorrow
The reports have been filed by a Multi-Agency Group, comprising officials of CBDT, RBI, FIU and ED
The move came after an IDS participant surrendered a fresh Rs 30 crore of unaccounted wealth
There is at present no official assessment on the quantum of black money within the country and abroad
Says if we do surgical strikes (to unearth black money), you can imagine what all will come out
Reddy has demanded that the Centre make the entire list of declarants in the Income Disclosure Scheme 2016 public
While Naidu wanted Centre to 'demonitise' currency notes of Rs 500 and Rs 1000 denominations to 'curb' proliferation of parallel economy, Jagan wanted publication of 'entire list of IDS-2016'
Sebi asked to furnish massive data on P-Note transfer trails, beneficial owners
As much as Rs 65,250 crore of undisclosed assets were brought to light during the four-month one-time compliance window that ended September 30
Rajnath Singh has told the visiting Swiss minister that India seeks Swiss co-operation for tax information exchange
The government provided a four month one-time window to help citizens reveal their undiscloed assets
Black money is the main corruption issue which needs to be tackled, said Home Minister Rajnath Singh
As many as 64,275 declarants disclosed their excess money but this figure could also be revised upward, FM Jaitley said
For each of the scheme years, IT department found actual pace of tax collections trailed rate of growth for previous years
It also said no official list of region wise declarations has been issued
At a 45 per cent tax rate, the government will earn Rs 29,400 crore (0.2 per cent of GDP) in additional revenues.