Notes Ban Raids

The CBI on Friday raided nine locations in three cities, including the official and private residences, of former Manipur Congress Chief Minister Okram Ibobi Singh, for allegedly misappropriating Rs 332 crore from development funds in Manipur, the officials said.

Right after PM Narendra Modi banned high-denomination notes, Nirav Modi, the celebrity diamond designer blamed for one of the country's largest bank fraud, had been raided by income tax officials in January 2017 as part of the crackdown on black money, sources have said.

Banned notes worth crores, making up a "bed" of cash when stacked up, were found on Tuesday at a house in Uttar Pradesh's Kanpur. The cash had to be stuffed into five big steel trunks, gunny bags and cartons by officials of the Reserve Bank of India (RBI) and the UP police.

Massive searches, seizures and surveys by the Income Tax department over the last three years have led to the detection of around Rs 71,941 crore worth "undisclosed income", the Centre has told the Supreme Court.

The anti-BJP front of 18 parties has resolved that starting Monday, it will jointly confront the government on five big issues including the landmark sales tax GST, introduced just days ago, the impact of Prime Minister Narendra Modi's shock decision to ban high-denomination notes in November, and the government's exercising of "political vendetta"...

Long after the government shut the window to exchange old banned currency notes, a gang in the national capital that duped people into believing that they could still exchange the scrapped Rs 1,000 and Rs 500 currency notes has been busted. The income tax authorities have told Delhi Police about a city-based 'social activist' who had been running t...

After five hours, the money was still being counted - and at that time, it totalled nearly 15 crores. In cash - and in the high-denomination notes that were banned in November by Prime Minister Narendra Modi in a shock move.

The Enforcement Directorate (ED) on Thursday conducted nation-wide searches against several bureaucrats, including an IAS officer, in connection with its separate money laundering cases against them on corruption charges.

Mansukh Makwana (55), who mends shoes for a living on M G Road in Junagadh received the notice on Saturday, asking to divulge the source of a Rs 10 lakh deposit in his account during the notes ban.

Weeks after the Prime Minister Narendra Modi's office ordered a crackdown on shell companies used to launder money, the Enforcement Directorate on Saturday carried out nationwide searches across 100 locations targeting nearly 300 shell companies. Sources said Saturday's operation across more than a dozen states was a direct fallout of the coordina...

Tamil Nadu's sand mining baron Sekhar Reddy has been arrested again after spending three days outside jail. He was arrested on Monday after he was questioned for a few hours by the Enforcement Directorate. The agency has accused him of money laundering in view of the recovery of crores of rupees in banned currency and new notes of Rs 2,000 during r...

Tax raids based on unsubstantiated rumours or simply suspicion will be legit after the government's tweaks to the Income Tax law. But the changes will be effective retrospectively in an apparent turnaround by the government despite its promise not to do so. The amendment to Section 132 of the Income Tax Act dealing with searches by taxmen says that...

The Income Tax department has detected huge alleged discrepancies in the transactions of a Rajkot-based cooperative bank where Rs 871 crore deposits were made, over 4,500 new accounts opened and more than five dozen accounts having same mobile number initiated.

Over Rs 4,807 crore of undisclosed income has been detected while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Prime Minister Narendra Modi addressed the nation on the notes ban, which he announced on November 8 without warning as a big step to check tax evasion. The deadline to deposit banned 500 and 1,000 notes in banks ended yesterday. Restrictions on the withdrawal of money from banks and ATMs are likely to continue. The notes that were cancelled amount...

The CBI on Friday raided nine locations in three cities, including the official and private residences, of former Manipur Congress Chief Minister Okram Ibobi Singh, for allegedly misappropriating Rs 332 crore from development funds in Manipur, the officials said.

Right after PM Narendra Modi banned high-denomination notes, Nirav Modi, the celebrity diamond designer blamed for one of the country's largest bank fraud, had been raided by income tax officials in January 2017 as part of the crackdown on black money, sources have said.

Banned notes worth crores, making up a "bed" of cash when stacked up, were found on Tuesday at a house in Uttar Pradesh's Kanpur. The cash had to be stuffed into five big steel trunks, gunny bags and cartons by officials of the Reserve Bank of India (RBI) and the UP police.

Massive searches, seizures and surveys by the Income Tax department over the last three years have led to the detection of around Rs 71,941 crore worth "undisclosed income", the Centre has told the Supreme Court.

The anti-BJP front of 18 parties has resolved that starting Monday, it will jointly confront the government on five big issues including the landmark sales tax GST, introduced just days ago, the impact of Prime Minister Narendra Modi's shock decision to ban high-denomination notes in November, and the government's exercising of "political vendetta"...

Long after the government shut the window to exchange old banned currency notes, a gang in the national capital that duped people into believing that they could still exchange the scrapped Rs 1,000 and Rs 500 currency notes has been busted. The income tax authorities have told Delhi Police about a city-based 'social activist' who had been running t...

After five hours, the money was still being counted - and at that time, it totalled nearly 15 crores. In cash - and in the high-denomination notes that were banned in November by Prime Minister Narendra Modi in a shock move.

The Enforcement Directorate (ED) on Thursday conducted nation-wide searches against several bureaucrats, including an IAS officer, in connection with its separate money laundering cases against them on corruption charges.

Mansukh Makwana (55), who mends shoes for a living on M G Road in Junagadh received the notice on Saturday, asking to divulge the source of a Rs 10 lakh deposit in his account during the notes ban.

Weeks after the Prime Minister Narendra Modi's office ordered a crackdown on shell companies used to launder money, the Enforcement Directorate on Saturday carried out nationwide searches across 100 locations targeting nearly 300 shell companies. Sources said Saturday's operation across more than a dozen states was a direct fallout of the coordina...

Tamil Nadu's sand mining baron Sekhar Reddy has been arrested again after spending three days outside jail. He was arrested on Monday after he was questioned for a few hours by the Enforcement Directorate. The agency has accused him of money laundering in view of the recovery of crores of rupees in banned currency and new notes of Rs 2,000 during r...

Tax raids based on unsubstantiated rumours or simply suspicion will be legit after the government's tweaks to the Income Tax law. But the changes will be effective retrospectively in an apparent turnaround by the government despite its promise not to do so. The amendment to Section 132 of the Income Tax Act dealing with searches by taxmen says that...

The Income Tax department has detected huge alleged discrepancies in the transactions of a Rajkot-based cooperative bank where Rs 871 crore deposits were made, over 4,500 new accounts opened and more than five dozen accounts having same mobile number initiated.

Over Rs 4,807 crore of undisclosed income has been detected while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Prime Minister Narendra Modi addressed the nation on the notes ban, which he announced on November 8 without warning as a big step to check tax evasion. The deadline to deposit banned 500 and 1,000 notes in banks ended yesterday. Restrictions on the withdrawal of money from banks and ATMs are likely to continue. The notes that were cancelled amount...