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Analysing Swiss Bank Accounts Data Of Indians, Says Tax Body Chief
Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.
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India Gets First Chunk Of Data On Swiss Bank Account Holders
India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.
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PM Modi Says Corrupt, Black Money Hoarders Will Not Be Spared
Prime Minister Narendra Modi today vowed not to spare corrupt and black money holders, saying efforts of his government have freed corridors of power from brokers, enhanced the number of taxpayers and saved Rs 90,000 crore by eliminating bogus beneficiaries.
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Over Rs 19,000 Crore In Black Money Detected After Probe Into Global Leaks
The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the Indian government said on Friday.
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'Countdown' Has Begun, Income Tax Department Warns Black Money Hoarders
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 the Pradhan Mantri Garib Kalyan Yojana (PMGKY) window to come clean.
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Do Explain: 13 Lakh People Get SMSes, Emails For Deposits After Notes Ban
Emails and text messages have been sent today to the majority of 18 lakh people identified for making suspicious and large cash deposits after Prime Minister Narendra Modi's sudden abolition of high-value notes.
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Income Tax Department Begins Action Under Benami Act; Issues 87 Notices
Initiating a stringent action against black money holders post notes ban, 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 years.
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Government To Notify Scheme For Taxing Black Money Holders This Week
Government is likely to notify this week the scheme giving tax dodgers another chance to come clean by paying 50 per cent of tax on junked currency deposited in banks post demonetisation.
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Switzerland to Share Information on Indians Holding Swiss Bank Accounts From 2018
In a big step towards fighting black money stashed overseas, Switzerland today agreed to automatic sharing of information with India on Swiss bank accounts of Indians as of September 2018 and onwards.
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Do Not Be Misused By The Corrupt: Government Warning on Notes Ban
Government today cautioned Jan Dhan account holders, housewives and artisans that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money in Rs 500/1,000 notes during the 50-day window till December 30.
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Declare Black Money By September 30 Or Face Action, Warns PM Modi
Warning black money holders of stringent action including imprisonment after September 30, Prime Minister Narendra Modi today said those with undisclosed wealth, most of which is parked in jewellery and real estate, should come clean to sleep peacefully.
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No Passing Off Black Money As Current Income, Warns Income Tax Department
The Income Tax Department on Thursday warned black money holders of prosecution if they tried to pass off such wealth as current income instead of disclosing it in the one-time compliance window.
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Ensure Single Point Contact For Black Money Disclosures, Says Tax Board
To ensure confidentiality, the Income Tax Department has mandated only senior officers to be a single point of contact for those making disclosures under the one-time window provided to black money holders to come clean.
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Compliance Window For Domestic Black Money Opens Tomorrow
The 4-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.
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Black Money: India Not To Press Secrecy Clause In All Cases
While seeking information from a foreign country in connection with black money stashed abroad by Indians, the Central Board of Direct Taxes (CBDT) has decided to refrain from invoking a specific treaty clause of not informing the person, except in special cases, in a bid to avoid delays.
-
Analysing Swiss Bank Accounts Data Of Indians, Says Tax Body Chief
Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.
-
India Gets First Chunk Of Data On Swiss Bank Account Holders
India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.
-
PM Modi Says Corrupt, Black Money Hoarders Will Not Be Spared
Prime Minister Narendra Modi today vowed not to spare corrupt and black money holders, saying efforts of his government have freed corridors of power from brokers, enhanced the number of taxpayers and saved Rs 90,000 crore by eliminating bogus beneficiaries.
-
Over Rs 19,000 Crore In Black Money Detected After Probe Into Global Leaks
The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the Indian government said on Friday.
-
'Countdown' Has Begun, Income Tax Department Warns Black Money Hoarders
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 the Pradhan Mantri Garib Kalyan Yojana (PMGKY) window to come clean.
-
Do Explain: 13 Lakh People Get SMSes, Emails For Deposits After Notes Ban
Emails and text messages have been sent today to the majority of 18 lakh people identified for making suspicious and large cash deposits after Prime Minister Narendra Modi's sudden abolition of high-value notes.
-
Income Tax Department Begins Action Under Benami Act; Issues 87 Notices
Initiating a stringent action against black money holders post notes ban, 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 years.
-
Government To Notify Scheme For Taxing Black Money Holders This Week
Government is likely to notify this week the scheme giving tax dodgers another chance to come clean by paying 50 per cent of tax on junked currency deposited in banks post demonetisation.
-
Switzerland to Share Information on Indians Holding Swiss Bank Accounts From 2018
In a big step towards fighting black money stashed overseas, Switzerland today agreed to automatic sharing of information with India on Swiss bank accounts of Indians as of September 2018 and onwards.
-
Do Not Be Misused By The Corrupt: Government Warning on Notes Ban
Government today cautioned Jan Dhan account holders, housewives and artisans that they will be prosecuted under the I-T Act for allowing misuse of their bank accounts through deposit of black money in Rs 500/1,000 notes during the 50-day window till December 30.
-
Declare Black Money By September 30 Or Face Action, Warns PM Modi
Warning black money holders of stringent action including imprisonment after September 30, Prime Minister Narendra Modi today said those with undisclosed wealth, most of which is parked in jewellery and real estate, should come clean to sleep peacefully.
-
No Passing Off Black Money As Current Income, Warns Income Tax Department
The Income Tax Department on Thursday warned black money holders of prosecution if they tried to pass off such wealth as current income instead of disclosing it in the one-time compliance window.
-
Ensure Single Point Contact For Black Money Disclosures, Says Tax Board
To ensure confidentiality, the Income Tax Department has mandated only senior officers to be a single point of contact for those making disclosures under the one-time window provided to black money holders to come clean.
-
Compliance Window For Domestic Black Money Opens Tomorrow
The 4-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.
-
Black Money: India Not To Press Secrecy Clause In All Cases
While seeking information from a foreign country in connection with black money stashed abroad by Indians, the Central Board of Direct Taxes (CBDT) has decided to refrain from invoking a specific treaty clause of not informing the person, except in special cases, in a bid to avoid delays.
