Black Money

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

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.

India’s forex reserves fall to over 7-month low at $402.7 billion

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

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.

Jilted lover burns Rs 5 lakh cash he stole for getting married

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

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

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.

Indians probed by govt agencies are linked to high-end real estate in Dubai

Of the 129,000 entries in the Dubai database from 181 countries, those of Indians form a sizeable chunk with 5,800 linked to properties in top sites such as the Palm Jumeirah, The World, Motor City, Emirates Living, Dubai Marina, Burj Dubai, Old Town Island.

Fores US China trade tariffs Euro

Kolkata: Euros worth Rs 44 lakh stuffed in gourds, 2 held

A customs official said, “310 Euro notes in the denomination of 500 were seized, which amounts to Rs 44 lakh.”

Parliamentary panel on black money

Parliamentary panel to look into black money recovery, performance of public sector banks

The panel on estimates, which is also called the continuous economy committee, suggests changes in policy or administrative framework to bring efficiency in expenditure.

CIC asks Finance Ministry about total black money collected post-demonetisation

Black money: Swiss parliamentary panel approves automatic information exchange with India

The exchange will work like this — If an Indian has a bank account in Switzerland, the bank concerned will disclose the financial account data to authorities there; the Swiss authority will automatically forward the information to its peer in India who can then examine the person’s details.

On the streets: NCP, Congress protest; BJP lauds ‘fight against black money’

“The GDP has decreased by 2 per cent and 15 lakh people have lost their jobs from January to April this year. The farmers are going through a tough time and the industrial sector is going through one of its worst phases,” said the Congress leader

I-T notices to 1.16 lakh for cash deposit of over Rs 25 lakh 

Pro-growth, pro-poor

By unearthing black money, demonetisation has widened the government’s revenue base, giving it more resources for welfare projects.

GST, GST common goods, Arun Jaitley, GST Council, GST Council Meeting, Business News, Economy News, Indian Express, Indian Express News

Congress didn’t take a single step against black money when in power: Arun Jaitley

Slamming the Congress party for inaction against black money, Jaitley said they had adequate opportunity to be in power but couldn’t recollect a single step the party had taken against black money.

Black money, Black money probe, SIT black money, CIC, Black money RTI, Right to Information, India news, Indian Express

SIT on blackmoney under the RTI Act: CIC

The SIT was set up on the orders of the Supreme Court in 2014 through a government notification to suggest methods to curb black money in the economy.

china-india trade volume, india china trade, indo-china relations, india growth, india china growth, china Ministry of Commerce, india china economies

Finance Ministry sends black money reports to Parliamentary panel

The NIPFP, NCAER and NIFM reports were received by the government on December 30, 2013, July 18, 2014, and August 21, 2014, respectively. These reports were recently submitted to the Standing Committee on Finance, the officials told reporters.

demonetisation, demonetisation benifits, demonetsation failure, demonetisation news, demonetisation advantages, black money, digital transactions, fake notes, tax base, latest news, indian express

What note ban was supposed to do, what really happened on the ground

After 99% of banned cash comes back, a fact check on government’s stated objectives of demonetisation

narendra modi, Doris Leuthard, black money, corruption, india NSG, india switzerland relations, indian express, latest news

India, Switzerland to step up fight against tax fraud

“Prime Minister Modi welcomed the steps taken by the Swiss side to expedite the execution of tax information sharing request by India and hoped that the two sides resolve outstanding issues expeditiously through bilateral dialogue at competent authority level,” it said.