Blackmoney

I-T detects Rs 9,334 cr black money post-note ban; to probe 60,000 people

Leaving no stone unturned to tighten the noose around black money hoarders, the Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money'.

18 lakh cases of income mismatch post demonetisation: Jaitley informs Parliament

The government’s crackdown on black money post demonetisation have resulted in the detection of 18 lakh cases where the income profiles of people do not match their account profile, the Lok Sabha was informed today.

Black Money: I-T department cracks down against tax evasion of Rs 100 cr, raids 50 locations across India

The Income Tax department today conducted searches at over 50 locations as part of its crackdown against tax evasion to the tune of over Rs 100 crore.

Two arrested in crackdown against shell firms

Modi govt steps up black money hunt; seeks Swiss details of over 10 persons

Stepping up its efforts to trace black money parked abroad, India has approached Switzerland seeking details of at least ten persons and entities to have misused Swiss banks’ famed high-secrecy walls to evade taxes. These

ED targets 500 shell companies across 17 states; Bhujbal, Jagan Reddy under scanner

Weeks after Prime Minister Narendra Modi ordered a crackdown on shell companies used to launder money, the Enforcement Directorate on Saturday carried out raids at over 100 locations targeting 500 shell companies across 17 states in the country.

Countdown has begun: I-T dept warns black money hoarders ahead of March 31 deadline

The Income Tax department today warned black money holders that it has “information” about their illegal deposits and they should avail the soon-to-end PMGKY window to come clean.

Cash transactions over Rs 2 lakh to invite 100 pc penalty, govt proposes changes in Finance Bill

The proposals have been moved by the government in the form of amendments to the Finance Bill 2017

Note ban opens up new channels of corruption: Australian economist

Describing demonetisation as an attempt 'akin to striking a rock with an egg', eminent Austrian economist Heinz D Kurz has said it is 'much too weak and misdirected an instrument' to root out corruption.

Rs 70,000 crore black money unearthed so far: SIT Deputy Chairman

Deputy Chairman of the Supreme Court-appointed SIT on black money, Justice Arijit Pasayat, has said that Rs 70,000 crore of black money has been unearthed so far through different schemes of the government.

Black money crackdown: Govt has 7 lakh shell cos on its target

The CBDT believes that deregistering of these 6-7 lakh ‘dormant’ firms will bring an end to "institutional money laundering" in the country

Black money: Govt to set up task force to monitor action against deviant shell companies

In a major crackdown on domestic shell companies, the government today decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes. Following a review by the

Income tax department detects Rs 16,200 crore black money stashed abroad, govt informs RS

Over Rs 16,200 crore in black money has been detected in investigations on global leaks about Indians stashing funds abroad, Rajya Sabha was informed by the government on Monday.

CBI books Delhi IT Commissioner, wife for hoarding unaccounted wealth

The CBI on Monday said it has registered a case against a commissioner of Income Tax (Appeals) in Delhi, his wife and other unidentified persons on charges of amassing illicit assets worth Rs 4.28 crore.

'Operation Clean Money’: Taxmen scan 1 cr accounts, seek explanation from 18L ‘suspects’

Determined to track down black money from the deposits made during the 50-day demonetisation window, the tax department has scrutinised and matched as many as 1-crore accounts and asked 18 lakh people to explain the

Post note ban deposits cross Rs 10 lakh crore mark, IT Dept readies action plan

The deposits made in old Rs 500 and Rs 1000 notes within the 50-day demonetisation window provided by Prime Minister Narendra Modi have crossed the Rs 10 lakh crore mark. Over one crore bank accounts

Black money hoarders also hit by demonetisation: Economic Survey

Economic Survey for 2017 presented on Tuesday said though India's lower middle class and rural population may have been the worst hit by move, black money holders also suffered in the process.

I-T dept issues 87 notices under Benami Property Act

the Income Tax department on Monday said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a heavy penalty and rigorous jail term of a maximum 7 yea