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Page 13 - Black Money

Adopt less-cash economy approach first to fight black money: CAIT

The comment comes after suggestion made by SIT on black money to ban cash transactions of above Rs 3 lakh

Adopt less-cash economy approach first to fight black money: CAIT
Updated On : 17 Jul 2016 | 8:49 PM IST

IDS: Taxmen to seek info from suspected black money holders

Sources says move will nudge those holding illicit assets to come clean; Income Disclosure Scheme ends Sept 30

IDS: Taxmen to seek info from suspected black money holders
Updated On : 17 Jul 2016 | 12:48 PM IST

Ban cash transactions of above Rs 3 lakh to curb black money: SIT

In the wake of the 'Panama Papers' leak, it also recommended amending the law to provide for confiscation by the state of such money abroad

Ban cash transactions of above Rs 3 lakh to curb black money: SIT
Updated On : 15 Jul 2016 | 1:08 AM IST

Govt extends payment date under black money scheme

The government has allowed payment of dues in three instalments by September 30, 2017

Govt extends payment date under black money scheme
Updated On : 15 Jul 2016 | 1:02 AM IST

Govt extends payment date under black money scheme

The first instalment of 25% of total tax, surcharge and penalty due will have to be paid by November 30, 2016, followed by a second tranche of an equivalent amount by March 31, 2017

Govt extends payment date under black money scheme
Updated On : 14 Jul 2016 | 8:18 PM IST

Black money SIT holds high-level meet in Delhi

To review high-profile tax evasion and money laundering probe cases

Black money SIT holds high-level meet in Delhi
Updated On : 13 Jul 2016 | 1:06 AM IST

Sizeable dip in black money parked abroad, says Jaitley

Says govt's activism against undisclosed money in the past two years has resulted into dip in illegal assets stashed abroad

Sizeable dip in black money parked abroad, says Jaitley
Updated On : 11 Jul 2016 | 1:44 AM IST

Sizable dip in Indian black money parked abroad: Arun Jaitley

Jaitley said action initiated by G-20 countries and technological intervention will lead to dip in illegal assets

Sizable dip in Indian black money parked abroad: Arun Jaitley
Updated On : 10 Jul 2016 | 5:47 PM IST

Govt may extend tax payment deadline for black money scheme

The comments follow Finance Minister Arun Jaitley's meeting with industry associations, CAs and tax professionals

Govt may extend tax payment deadline for black money scheme
Updated On : 07 Jul 2016 | 2:51 PM IST

I feel 'guilty' and 'cheated' for helping PM Modi: Ram Jethmalani

Jethmalani said Modi govt has failed to deliver on the promise of bringing back black money stashed abroad

I feel 'guilty' and 'cheated' for helping PM Modi: Ram Jethmalani
Updated On : 03 Jul 2016 | 7:45 PM IST

Govt checking if black money returned to India, says Adhia

In the wake of deposits held by Indians in Swiss banks dropping by 33 per cent, Revenue Secretary Hasmukh Adhia on Friday said the government was checking if any of the black money has been routed back to India.Noting the fall in money by Indians in Swiss banks as a positive, Adhia said the data indicated the government's steps to recover black money were in the right direction.At the same time, he observed, the government and the income tax (I-T) department are continuously working to detect black money and are making efforts to track down any such funds that have returned to India."If money has returned or routed back into India, we (government and agencies) are taking steps to track it," Adhia told reporters here.Money held by Indians in Swiss banks has fallen by nearly third to a record low of 1.2 billion francs (about Rs 8,392 crore) amid a continuing global clampdown on the famed secrecy wall of Switzerland's banking system.The government might consider the industry demand of pay

Govt checking if black money returned to India, says Adhia
Updated On : 02 Jul 2016 | 12:36 AM IST

Rs 43,000 cr undisclosed income unearthed in 2 years: Hasmukh Adhia

Adhia said the Rs 13,000 crore of black money discovered in foreign accounts of Indians will be taxed at the rate of 120%

Rs 43,000 cr undisclosed income unearthed in 2 years: Hasmukh Adhia
Updated On : 01 Jul 2016 | 8:50 PM IST

Govt open to instalments in black money window

However, the deadline to disclose domestic black money won't be extended beyond September 30

Govt open to instalments in black money window
Updated On : 01 Jul 2016 | 8:24 PM IST

Jaitley gives last chance to black money holders to come clean by Sept 30

Jaitley said any declaration made under the law will be protected

Jaitley gives last chance to black money holders to come clean by Sept 30
Updated On : 28 Jun 2016 | 8:34 PM IST

PMO keeping an eye on black money scheme

A second set of FAQs will be put up by the government to address some of the concerns that have arisen over provisions of the scheme

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Updated On : 27 Jun 2016 | 11:51 PM IST

Govt pursuing black money very aggressively: Jayant Sinha

Modi yesterday asked people to declare their undisclosed income by Sept 30 and said it is their last chance

Govt pursuing black money very aggressively: Jayant Sinha
Updated On : 27 Jun 2016 | 4:38 PM IST

Jaitley to meet industry chambers, CAs on black money window

I-T department has already adopted a 4-pronged strategy to ensure success of the scheme

Jaitley to meet industry chambers, CAs on black money window
Updated On : 27 Jun 2016 | 4:35 PM IST

Declare undisclosed assets by Sept 30; it's your last chance: Modi

Prime Minister appealed to the people to take this opportunity and become a part of this transparent scheme

Declare undisclosed assets by Sept 30; it's your last chance: Modi
Updated On : 26 Jun 2016 | 1:55 PM IST

Black money window: IT dept publishes list of asset valuers

Valuers are registered with the IT department under the Wealth Tax Rules

Black money window: IT dept publishes list of asset valuers
Updated On : 24 Jun 2016 | 10:49 AM IST

Taxmen told to ensure black money window's success

Income Tax Department has asked its officers to make "all out efforts" to attract potential declarants under the domestic black money window by assuring them of confidential and hassle-free disclosures. In order to give wide publicity, the CBDT has also suggested putting up posters about the Income Declaration Scheme-2016, at places frequented by frequented by potential declarants, like club houses, posh markets, showrooms of high end products. The four-pronged strategy prepared by the CBDT for the success of the scheme, includes single point contact to ensure confidentiality, setting up of facilitation centres across the country, giving wide publicity and monitoring at the highest level. Finance Minister Arun Jaitley in Budget had announced a four-month window under the Income Declaration Scheme 2016. The scheme, which opened on June 1, allows domestic black money holders to declare ill-gotten wealth and come clean by paying a tax and penalty totalling 45 per cent. "All out ...

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Updated On : 24 Jun 2016 | 12:41 AM IST