Imposition Of Tax Act
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Rs 16,000-Crore Undisclosed Income Detected in 20 Months: Revenue Secretary
A government crackdown on black money has led to detection of undisclosed income of over Rs 16,000 crore since March 2014, while assets worth Rs 1,200 crore have been seized, Revenue Secretary Hasmukh Adhia said on Wednesday.
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Rs 6,500 Crore Declared Under Black Money Law, Says PM Narendra Modi
Committing to carry forward the fight against black money, Prime Minister Narendra Modi today said Rs 6,500 crore of undisclosed foreign assets have been declared under the compliance window of the new law and the drive would continue despite its 'side effects'.
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Black Money Law Comes into Force From July 1
The black money law that provides for stringent penalties and jail term for failing to disclose overseas income has been operationalised from July 1 this year, instead of April 2016, the Finance Ministry said.
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Rs 2 Lakh Penalty for Not Answering Tax Authorities' Queries
Failure to answer questions from the tax department can entail a penalty of up to Rs 2 lakh from the next financial year under the new black money law, which has got the assent of the President.
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Rs 16,000-Crore Undisclosed Income Detected in 20 Months: Revenue Secretary
A government crackdown on black money has led to detection of undisclosed income of over Rs 16,000 crore since March 2014, while assets worth Rs 1,200 crore have been seized, Revenue Secretary Hasmukh Adhia said on Wednesday.
-
Rs 6,500 Crore Declared Under Black Money Law, Says PM Narendra Modi
Committing to carry forward the fight against black money, Prime Minister Narendra Modi today said Rs 6,500 crore of undisclosed foreign assets have been declared under the compliance window of the new law and the drive would continue despite its 'side effects'.
-
Black Money Law Comes into Force From July 1
The black money law that provides for stringent penalties and jail term for failing to disclose overseas income has been operationalised from July 1 this year, instead of April 2016, the Finance Ministry said.
-
Rs 2 Lakh Penalty for Not Answering Tax Authorities' Queries
Failure to answer questions from the tax department can entail a penalty of up to Rs 2 lakh from the next financial year under the new black money law, which has got the assent of the President.
