IT raids on Gujarat Gutkha distributor detect Rs 100 cr unaccounted income
New Delhi/IBNS: The Income Tax department has detected unaccounted income of more than Rs 100 crore during a series of raids at the properties of a leading Gutkha distributor in Ahmedabad, the Finance Ministry said in a statement.
Black money in primary housing market dropped by 75-80 pc post demonetisation: Anarock
Mumbai/IBNS: There has been a drop of 75-80 percent in cash transactions in primary residential market after demonetisation in late 2016, housing brokerage firm Anarock on Wednesday said.
Funds of Indians in Swiss banks increased to over Rs 20,000 cr : Finance Ministry rejects claim
New Delhi/IBNS: The finance ministry on Saturday rejected claims that the money parked by Indians in Swiss banks has swelled to more than Rs 20,700 crore in 2020, a record jump in deposits in the last 13 years, said media reports.
One Lakh villages to go digital over next five years: Govt
New Delhi, Feb 1 (IBNS): India having emerged as the world leader in the consumption of mobile data, the Government on Friday said it is now aiming to widen its impact by reaching out to the interior and rural areas.
New Delhi, Feb 1 (IBNS): The anti-black money measures taken by the Government during the last four and half years in the form of Black Money Law, the Fugitive Criminal Offenders Act, and Demonetisation, have brought undisclosed income of about Rs 1,30,000 crore to tax, said Finance Minister Piyush Goyal.
Indian money in Swiss Bank fell 34.5 pct in 2017: Piyush Goel
New Delhi, July 24 (IBNS): Finance Minister Piyush Goyal on Tuesday claimed that Indian money deposited in Swiss Bank has reduced by 34.5 percent in 2017 and by 80 percent since the Narendra Modi government came to power in 2014.
India will have information regarding all black money by 2019: Piyush Goyal
New Delhi, Jun 29 (IBNS): Union Minister Piyush Goyal said on Friday that India will have full information regarding black money in stored in banks in Switzerland by the next year, media reports said.
Income Tax Department launches Benami Transactions Informants Reward Scheme, 2018
New Delhi, Jun 1 (IBNS): The Union Ministry of Finance announced on Friday that the Income Tax Department has launched a new Benami Transactions Informants Reward Scheme, 2018, to get people’s participation in the Department’s efforts to unearth black money and to reduce tax evasion.
Govt keen to weed out black money says IT director
Kolkata, Jan 3 (IBNS): At a recent seminar on the Pradhan Mantri Garib Kalyan Yojana, Additional Director of Income Tax, Intelligence and Criminal Investigation, P. B. Pramanik said the government has adopted a strict stance in its war against black money.
Parasmal Lodha arrested by ED at Mumbai airport
Mumbai/Kolkata, Dec 22 (IBNS): Kolkata businessman Parasmal Lodha was arrested by the Enforcement Directorate (ED) at the Mumbai Airport on Thursday morning, reports said.
Demonetisation: Fake currency smuggling has decreased, says M V Naidu
New Delhi, Dec 5 (IBNS): Union Urban Development Minister M Venkaiah Naidu said on Monday that the move to demonetise higher currency notes have affected the smuggling of fake currency notes in India.
Demonetisation: Cashless economy not good for India, says economist Jean Dreze
Patna, Dec 3 (TheBiharPost/IBNS): Prominent economist Jean Dreze has said cashless economy is not good for a country like India.
Govt proposes Bill to tax black money
New Delhi, Nov 28 (IBNS): After banning Rs. 500/1000 notes, the Centre on Monday proposed new rules to tax black money that are being recovered.
Demonetisation: It seems our team did not do its homework properly, says Shatrughan Sinha
New Delhi, Nov 25 (IBNS): Expressing concern over the present economic scenario in the wake of notes ban, senior BJP leader Shatrughan Sinha has said that his 'team' has not done its homework properly.
Demonetisation: Over the counter exchange of old notes stopped from Thursday midnight
New Delhi, Nov 24 (IBNS): The over the counter exchange of old 500 and 1000 INR notes, which have been banned by the government in order to curb black money from the market, will be stopped from Thursday midnight, reports said.