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Tag Archives: black money

Demonetisation – A Look Back at the last Two Months

    *By Arun Jaitley Two months have passed since the Prime Minister announced the decision that high denominational currency notes would cease to be a legal tender. Subsequently those ...

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Demonetisation Loophole Lies in Exemption of Political Funds

The loophole in the entire gamut of demonetisation is out finally and the political parties are exempted from restrictions on depositing old currency notes in their bank accounts, said Revenue ...

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Finance Minister Warns Strict Action on Cash Diversions from Banks

Finance Minister admitted that some unscrupulous people including some in the banking system have been trying to subvert the system once again and accumulating large amount of cash unlawfully. "Obviously, ...

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Corrupt Bank Officials Divert Crores of New Currency, Weaken Demonetisation

Ironic but the Indian government’s motive to replace black money with white has reached its peak with series of IT raids revealing the nexus between corrupt bank officials who have ...

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Demonetisation: Ministry Thanks Banks Which Failed People, Diverted New Notes to Black Money Holders

The Finance Ministry has appreciated the role played by the banks post-demonetisation especially when the old currency was accepted and till 24th November, 2016, when exchange of old currency to ...

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Post-Demonetisation, Swift IT Raids Greet 400 Cases

Income Tax (IT) Department has carried out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016. More than Rs. ...

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Earn Honestly, Pay Taxes Honestly, says Minister

Union Minister (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal, addressing a gathering comprising of the trader fraternity at the Less-Cash India Summit, said the ...

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RBI Cracks Whip on Jan Dhan Yojana Bank Accounts, Now it Takes 2 Years to Get Back Rs.2 Lakh Deposited

As Jan Dhan Yojana accounts meant for the unbanked rural people came under the black money purview with mysterious increase of 60% after demonetisation amounting to Rs.72,834 crore worth deposits ...

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Declaration of Undisclosed Black Money far less than what’s declared after Demonetisation

A total number of 64,275 declarants have made declaration of undisclosed income of Rs.65,250 crore under the Income Declaration Scheme, 2016, which is far less than what’s been unearthed in ...

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Angry at Demonetisation? Modi asks People to Say it in Opinion Poll

Amid long queues and opposition demand, Prime Minister Narendra Modi has invited views from the people directly on the recent decision taken by the Union Government regarding currency notes of ...

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Action on Black Money Continues: Minister

There is no official estimation of the amount of black money within the country and stashed abroad and a panel commissioned to study it through National Institute of Public Finance ...

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Misuse of Jandhan Accounts Will be Punished: Govt

Misuse of earlier announcement by the Government that small deposits made in the banks by artisans, workers, housewives, etc. would not be questioned by the Income Tax Department within the ...

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26 Indians Probed for Swiss Accounts, Black Money: Minister

Based on the information provided by the foreign government (Germany) regarding banks accounts held by Indians in Liechtenstein and Switzerland, action under the Income-tax Act, 1961 has been taken on ...

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Currency Crisis Hits Common Man Hard as Banks Still Unprepared

While the middle class and the common man has appreciated PM Narendra Modi’s move to ban Rs.500 and Rs.1,000 notes to wipe out black money in the country ahead of ...

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Modi Govt Bans Rs.500, Rs.1000 Notes, ATMs Crash, Banks Closed Tomorrow

Soon after Prime Minister Narendra Modi announced onslaught on black money banning Rs. 500 and Rs.1,000 currency notes, the rush to nearby ATMs by hapless citizens turned into a nightmare ...

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638 Foreign Assets’ Declarations Made Under Amnesty

The government has received 638 submissions declaring undisclosed Foreign Assets amounting to Rs 3,770 Crore under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ...

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Scale Down Income Tax to Generate More Revenue: RSS

It was not long ago that Narendra Modi himself vouched for scrapping the Income tax altogether and explore other avenues of revenue generation in India. He was then campaigning for ...

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Finance Ministry Opens Black Money Amnesty Window, Sept. 30 Last Date

The Finance Ministry has anounced 30th September, 2015 as the date before which persons can make a declaration about their undisclosed assets located outside India. The Compliance Provisions of the ...

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Black money abroad: 350 accounts assessed, 60 cases filed: Arun Jaitley

The government has completed assessment of 350 foreign accounts for tax-evasion proceedings have been initiated against 60 account holders as part of its crackdown on black money, Union Finance Minister ...

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Sydney Welcomes Modi, Thousands Keen to Attend India-Aus Unity Event

Prime Minister Narendra Modi on Monday heads towards Sydney with his ambitious project “Make in India”, after attending the high profile G20 Summit in Australia. Allphones Arena in Sydney is ...

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