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Benami transactions: Rigorous imprisonment of up to 7 years

Aug 16, 2016

Benami transactions: Rigorous imprisonment of up to 7 years

People keeping 'benami' properties to evade taxes will get up to seven years rigorous imprisonment and fine, as per a new law aimed at checking black money in real estate sector. #Black money #NewsTracker #Benami Properties #benami transactions #Benami Transactions Act of 1988
GST Bill passed: Will it really end 'kacha bill' system? Here's why many are doubtful

Aug 09, 2016

GST Bill passed: Will it really end 'kacha bill' system? Here's why many are doubtful

Traders agree with the PM but feel they are not the only one responsible for the system. High tax rate, complex system, multiple administration having no accountability, unfettered discretionary powers, consumer avoids taking permanent bill, etc also contribute to generation of kacha bills. #Black money #parliament #Economic Reform #Monsoon session #Tax reform #GST Bill #pakka bill #kacha bill
Book excerpt: In India, a tangled maze of corporate-politician nexus and corruption

Jul 29, 2016

Book excerpt: In India, a tangled maze of corporate-politician nexus and corruption

When you attempt to unmask the appalling double games of the people that run India and drive its economy, and put together evidence of their duplicity, they will deploy ingenious methods to silence you #Corruption #Black money #Democracy #Book Excerpt #A Feast of Vultures #corporate-politician nexus
Is India close to passing a law to identify true corporate ownership

Jul 27, 2016

Is India close to passing a law to identify true corporate ownership

With developing countries losing over $1 trillion to illicit financial flows a year, and $7.6 trillion of the world’s assets being held in offshore secrecy jurisdictions, it becomes crucial to close legal loopholes that allow anonymous companies to exist #Barack Obama #Black money #OECD #Monsoon Session of Parliament #Panama Papers #Mossack Fonseca #corporate ownership #caymal islands #tax scam
Shah Rukh Khan gets I-T notice too; investments in tax havens under scanner

Jul 25, 2016

Shah Rukh Khan gets I-T notice too; investments in tax havens under scanner

The Bollywood superstar Shahrukh Khan has reportedly received a notice from the I-T department, asking him to provide details of his investments in overseas destinations #Shah Rukh Khan #Black money #Tax evasion #Income tax #I-T Department #Finance Minister Arun Jaitley #IDS
I-T dept detects Rs 22,000 cr undisclosed income in 2 years, says FM Arun Jaitley

Jul 22, 2016

I-T dept detects Rs 22,000 cr undisclosed income in 2 years, says FM Arun Jaitley

The number of cases where prosecution complaints were filed and offences were compounded during fiscal year 2014-15 and 2015-16 is 3,140, as against 1,690 during fiscal 2012-13 and 2013-14 #Black money #Income Tax Department #Arun Jaitley #I-T Department #IDS #Panama Leaks
Black money worth around Rs 44,000 cr recovered in last two fiscal years, says govt

Jul 19, 2016

Black money worth around Rs 44,000 cr recovered in last two fiscal years, says govt

Searches in 990 groups of assessees and surveys in 9,457 cases were conducted #Black money #Santosh Kumar Gangwar #finance act
Black money window: CBDT vows to confront 9 lakh special cases

Jul 19, 2016

Black money window: CBDT vows to confront 9 lakh special cases

Central Board of Direct Taxes (CBDT) Chairman Atulesh Jindal, while talking to reporters here, said all those people who have such untaxed assets and funds should come forward and make their declarations before it is too late to utilise the Income Declaration Scheme (IDS) that ends on September 30. #Black money #CBDT #Arun Jaitley #I-T #IDS #Income Declaration Scheme #Atulesh Jindal
Black money SIT for ban on cash deals over Rs 3 lakh, limiting cash holding

Jul 14, 2016

Black money SIT for ban on cash deals over Rs 3 lakh, limiting cash holding

In order to tackle black money, the Special Investigation Team (SIT) has recommended a total ban on cash transactions above Rs 300,000 and an act be framed to declare such transactions as illegal and punishable under law, an official statement said here on Thursday. #Black money #Supreme Court #SIT #recommendations #NewsTrack #cash transactions #cash holding