Tag: Black Money

Cuttack: The Supreme Court appointed Special Investigation Team (SIT) on black money will hold a meeting here today. To be chaired by Vice Chairman of the team Jusitice Arijit Pasayat. the meeting will be attended by senior officials of Enforcement Directorate (ED), Income Tax department, Mines department and Crime Branch. The concerned officials will submit […]

Cuttack: Vice Chairman of the Special Investigation Team (SIT) on Black Money Justice Arijit Pasayat on Wednesday hinted that the black money generated by the Dhalasamant brothers might come under the SIT purview. “Don’t talk about any person. We are after and will be after anyone having black money. We will certainly investigate if we […]

New Delhi: Denying that demonetisation failed to achieve its objectives, Finance Minister Arun Jaitley on Wednesday said the measure had succeeded in reducing cash in the economy, increasing digitisation, expanding the tax base, checking black money and in moving towards integrating the informal economy with the formal one. “The objective of demonetisation was that India is […]

New Delhi: Listing the achievements of the NDA government in curbing black money, including demonetisation, Prime Minister Narendra Modi on Tuesday said that authorities had confiscated black money worth over Rs 1 lakh crore and around Rs 3 lakh crore had been brought into the banking system. “In the last three years, more than Rs […]

Rio de Janeiro: Brazil’s former Finance Minister Guido Mantega has admitted that he owned an undeclared bank account in a Swiss bank with $600,000. Mantega served as Finance Minister from 2006 to 2015, during most of the term of former President Luiz Inacio Lula da Silva and of the first presidential term of impeached President Dilma […]

New Delhi: The central government said on Friday that in its attempt to curb domestic black money it has unearthed over Rs 1.37 lakh crore worth of tax evasion in 23,064 searches carried out in the last three years. “The period has witnessed unprecedented enforcement actions in direct and indirect taxes. While 23,064 searches/surveys have […]

New Delhi: A photo of your shiny new luxury car on Instagram or a costly watch on Facebook may lead the taxman to your door as the tax department from next month will begin amassing virtual information to trace black money. ‘Project Insight’, likely to be launched next month, will use big data analytics to […]

New Delhi: Over 2,000 fresh accounts were opened in a Bareilly branch of State Bank of India post- demonetisation till December 31 to allegedly channelise black money in which at least Rs 8 crore were deposited in old notes, a CBI probe has found. The CBI has now registered an FIR against unknown bank officials […]

Tax evasion needs to be made a serious 'criminal offence' to force foreign countries to reveal names and account details of Indians stashing illicit wealth abroad, the Special Investigation Team on black money has said

In the first major disclosure on black money, 339 Indians have been found to have stashed Rs 4,479 crore in Swiss banks, while domestic unaccounted wealth to the tune of Rs 14,958 crore has been traced, even as the SIT recommended stringent measures to check the menace

New Delhi: Finance Minister Arun Jaitley Saturday said the government was committed to tracing black money stashed abroad and a comprehensive new law will be framed to track it. “On black money, a new structure including e-filing and tracking down is our abiding commitment,” Jaitley said in his budget speech. He said a “comprehensive new […]

The Union Finance Ministry on Saturday said that increase in deposits of Indians in Swiss Banks could be on account of an increase in business of Swiss bank branches located in India and raised Inter-bank transactions, rather than due to an increase in alleged black money held by Indians in Switzerland.

New Delhi: The Centre on Monday moved the Supreme Court challenging a Delhi High Court order, which has ruled that the black money law can’t have a retrospective effect, that is, it cannot be applied prior to April 1, 2016, as fixed by Parliament. Mentioning the matter before a Vacation Bench of Justices Indira Banerjee […]

Cuttack: The Supreme Court appointed Special Investigation Team (SIT) on black money, which held a meeting in Cuttack on Tuesday, informed that use of black money was rampant during elections and there needs to be a change in law to curb such economic offence. The meeting was chaired by vice-chairman of SIT, Justice Arijit Pasayat […]

Kolkata: Trinamool Congress supremo Mamata Banerjee has demanded return of ballot papers in place of Electronic Voting Machines (EVMs) and said electoral reforms are required in the country to save democracy and stop the use of black money during polls. Banerjee, the chief minister of West Bengal, also demanded state funding of elections. “Do not […]