Sunday March 9, 2014
The European country, which has often been accused of being the most favoured place for stashing illicit wealth by Indians, also said it is "committed to resolving any open questions with India regardless of the upcoming elections".
Monday March 3, 2014
A team of the US Treasury officials recently met Indian Income Tax and CBDT officials for negotiating an Inter-Governmental Agreement (IGA) which will enable faster access to tax evasion related information and tax crimes by individuals and entities ...
Tuesday February 18, 2014
In its crackdown against alleged black money in offshore accounts, the government has begun action in at least 84 cases and many more cases are being probed, although it is getting virtually no cooperation from countries like Switzerland.
Monday February 17, 2014
This framework calls on jurisdictions to obtain information from their financial institutions and exchange that information automatically with other jurisdictions on an annual basis.
Thursday February 13, 2014
Global economic body Organisation for Economic Cooperation and Development (OECD) today unveiled a new mechanism to combat the menace of offshore tax evasion, a protocol to which India is a signatory.
Tuesday January 28, 2014
Reserve Bank of India Governor Raghuram Rajan said on Wednesday that withdrawal of pre-2005 notes is not intended to check black money but to prevent counterfeiting.
Sunday December 22, 2013
As part of its strategy to combat black money, India will soon operationalise its first-ever income tax office in Cyprus to tackle funds flowing from the island nation even as it mulls rolling back suspension of tax benefits on investments made from ...
Thursday December 12, 2013
Total black money outflow from India was nearly $343 billion (nearly Rs 21 lakh crore at dollar/rupee value at 62) during 2002-2011, says a report. This puts India as the fifty largest exporter of illicit money, the report adds.
Tuesday December 3, 2013
Switzerland has directed banks to strengthen due diligence on overseas clients to prevent illicit fund flows as well as comply with international tax regulations.
Tuesday November 26, 2013
Black money totalling around Rs 3,000 crore has been detected in the country by the Central Economic Intelligence Bureau (CEIB) in the first half of this year, according to official sources.
Sunday November 24, 2013
Swiss banks expect a significant decline in quantum of foreign money managed by them going forward, as Switzerland has agreed to automatic exchange of tax information with foreign jurisdictions, including India.
Friday November 22, 2013
In a big boost in the fight against black money, four overseas jurisdictions including Liechtenstein where Indians are suspected to have stashed illicit funds have agreed to do away with banking secrecy ways by allowing automatic tax information ex...
Thursday November 21, 2013
Switzerland has been listed alongside well-known tax havens in a new ranking by the Organisation for Economic Co-operation and Development (OECD), showing the country still has work to do on banking secrecy despite recent steps aimed at tackling the ...
Monday November 18, 2013
The step comes as a major boost for India in its fight against tax evasion and stashing of illegal funds abroad as a number of individuals have been detected from the country to have been using banking channels of that country to hide their illegal i...
India | Edited by Deepshikha Ghosh | Friday November 1, 2013
Union minister Kapil Sibal has alleged that black money has been used for Narendra Modi's rallies.
India | NDTV.com | Friday November 1, 2013
Union Minister Kapil Sibal hits out at Bharatiya Janata Party's prime ministerial candidate Narendra Modi.
Assembly | Press Trust of India | Thursday October 31, 2013
Income Tax department has formed verifications cells in all 33 districts of Rajasthan to monitor movement of black money during the upcoming Assembly election in the state.
Thursday October 31, 2013
The move is based on the claim by International Consortium of Investigative Journalists (ICIJ), a US based group of about 160 journalists, to have possessed secret records of 2.5 lakh individuals and entities from more than 170 countries relating to ...
Assembly | Press Trust of India | Tuesday October 22, 2013
In the run up to Delhi assembly polls, the state Election Commission (EC) and the Income Tax (IT) department plan to undertake a drive against black money vitiating the electoral process.
Sunday October 20, 2013
Switzerland has signed the Organisation for Economic Cooperation and Development (OECD) pact which provides for sharing of tax information and mutual cooperation by signatories, but any penal action against money launderers and terrorists can be init...