black money

Precedent for black money recovery: ITAT orders woman to pay taxes on undeclared deposit in Swiss bank account

July 18, 2020 12:14 am

Octogenarian Renu Tikamdas Tharani was found to be the beneficiary of the account that held $3.97 crore during financial year 2005-06 after the tax department began a reassessment proceeding in 2014 for the income tax return filed in 2006, wherein she had declared an income not liable to tax.

‘Elephant bonds can bring back $500 billion stashed overseas’

November 02, 2019 3:11 am

These ‘elephant bonds’ would be an avenue for people to bring their offshore undisclosed wealth into India without fear of prosecution, suggests the report.

Indians' money in Swiss banks falls, hits second-lowest level in two decades

June 27, 2019 9:09 pm

A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018.

Supreme Court to hear tomorrow Centre's plea on applicability of black money law

May 20, 2019 6:33 pm

The Centre is also aggrieved by the interim order of the high court that restrained the Income Tax (I-T) department from taking any action against VVIP chopper scam accused Gautam Khaitan, against whom a black money case has been lodged.

Citing confidentiality, govt declines to share black money details received from Switzerland

May 17, 2019 2:31 pm

Replying to an RTI query, the Finance Ministry said India and Switzerland share information on black money on a case to case basis as per the investigations being carried out.

Despite CIC order, PMO refuses to share details on black money brought back from abroad

November 25, 2018 6:01 pm

The PMO, replying to an RTI application filed by whistleblower bureaucrat Sanjiv Chaturvedi, said a Special Investigation Team (SIT) has already been formed and its investigation is underway.

$210-million assets: I-T moves court against Winsome owner’s wife

July 23, 2018 12:15 pm

Winsome Diamonds is the country’s second largest wilful defaulter, and owes Rs 4,687 crore to a consortium of banks headed by Standard Chartered Bank.

Money of Indians in Swiss Banks jumps 50% after decline for three years

June 29, 2018 9:14 am

The latest data from Zurich-based Swiss National Bank (SNB) comes months after a new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace.

Amid govt's 'clampdown' on black money, Indians' money in Swiss banks rise 50 per cent

June 28, 2018 11:36 pm

On Supreme Court's direction, the government had constituted a Special Investigation Team (SIT) to probe cases of alleged black money of Indians, including funds stashed abroad in places like Switzerland.

Express-OCCRP report: Indians who have ties to tax havens are linked to prime real estate in Dubai

June 14, 2018 6:54 am

According to Indian laws, it is not illegal for Indians to own property in Dubai. As per the Foreign Exchange Management Act of 1999, resident and non-resident Indians are allowed to own immovable properties abroad.

Demonetisation, a success? Is it still a question: News in Numbers

June 22, 2020 6:17 pm

The shortage of cash, decline in GDP, loss to small businesses and daily-wage workers - was it all worth it if most of the demonetised money is back in the system?

Delhi Layer Rohit Tandon Held In Money Laundering Case

June 22, 2020 7:16 pm

Government Asks People To Send Black Money Information On E-mail

June 22, 2020 7:17 pm

Modi govt. has failed to bring back black money: Congress

January 12, 2016 7:33 am

New Delhi, Jan 12 (ANI): Reacting on the black money statement of Yoga Guru Baba Ramdev, Congress leader Shobha Oza on Tuesday said the Modi government, which had black money as an important issue in their election manifesto, has now gone silent on the matter. She further said that PM Modi has failed on his promise to bring the black money back. Meanwhile, Bharatiya Janata Party (BJP) leader Sudesh Verma said that necessary steps were being taken by the government on black money and assured that the results would come soon.