Rajkot-based bullion trader Pankaj Lodhya, who has been named by the Centre in an affidavit filed before the Supreme Court in the black money case, on Monday denied having a foreign bank account and said he was shocked to find his name in the list.
Govt to introduce comprehensive law on black money
When Hitesh Harisinghani and Jahnavi Patel hit the streets of Mumbai after Modi's demonitisation announcement, here's what they found.
In a shocking revelation, WikiLeaks founder Julian Assange said black money mainly comes from India.
The window under the Income Declaration Scheme 2016 opened on June 1 and will close on September 30
As much as 73% of total income of national political parties is unaccounted for, says Association for Democratic Rights.
With one of its members, Pradip Burman, being named as an account holder in a foreign bank in the black money issue, Dabur India promoter family, Burmans on Monday said the account complied with all legal requirements.
Kejriwal had alleged Mukesh Ambani, Anil Ambani, Naresh Goyal and some members of Dabur Group's Burman family had secret accounts in HSBC.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
Government may bring a new law on black money during the ongoing Parliament session.
Reminding the Bharatiya Janata Party government of its poll promise of bringing back black money, Congress general secretary Digvijay Singh on Thursday dared the Centre saying if it has courage it should reveal the name of account holders.
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The minister was speaking at a review meeting of Principal Chief Commissioners, Principal Directors General, Chief Commissioners of I-T in New Delhi on Thursday in order to assess the revenue collection target for 2014-15 fiscal.
Special Investigation Team on black money will hold a meeting.
The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation.
The issue of black money dominated in Lok Sabha on Wednesday with the Opposition asking the government to bring back an estimated Rs 25 lakh crore stashed away illegally in foreign banks and reveal the identity of depositors.
Prime Minister Manmohan Singh said there is "no instant solution" to bring back blackmoney stashed in foreign banks and that information with government cannot be made public due to treaty obligations.
A total of 635 declarants have filed declarations declaring undisclosed foreign assets worth Rs 4,160 crore.
Union Finance Minister Pranab Mukherjee on Sunday said treaties had been signed with a total 37 countries to know the details of money stashed abroad by Indians.
Chief Election Commissioner Nasim Zaidi also warned that if parties try to sidestep proposed changes in election and income tax laws by taking advantage of any loophole, they will be dealt with accordingly.
The amnesty scheme is a 'practical and pragmatic' approach to bring back the black money stashed abroad, the chairman of Assocham's Legal Affairs Council R K Handoo said on the sidelines of the release of a study on black money in New Delhi on Friday.
The Centre on Friday approached the Supreme Court seeking review and recall of its order for setting up a Special Investigation Team comprising its retired judges to take over the probe of all black money cases, including that of Pune stud farm owner Hassan Ali Khan.
About Rs 2,280 crore (Rs 22.80 billion) unaccounted income being allegedly routed through Private Placement Programme (PPP) has been detected by economic intelligence sleuths.
Targeting parties who are opposing the note ban, he claimed some people are upset as his decision has struck the "ring leader of thieves".
Rajya Sabha returns Finance Bill to Lok Sabha; budgetary process over in both Houses, President nod needed now.
The government also informed the apex court that it has completed negotiations for Tax Informations Exchange Agreement with 10 countries where the money is believed to have been stashed.
The Centre on Friday submitted before the Supreme Court that all the information on black money received from foreign countries, with which India has double taxation avoidance agreement, cannot be disclosed.
In the first of a three-part series Paranjoy Guha Thakurta details the salient features of the Undisclosed Foreign Income and Assets (Imposition of Tax) Act, 2015.
Distinguished lawyer Anil Divan who is arguing the case related to black money stashed overseas discusses the legal details of the case and is optimistic that the illicit wealth can be brought back to India.
As probe into suspected black money stashed abroad by Indians gathers steam, banks in Switzerland are running from pillar to post to safeguard their interest.
Yoga guru Ramdev on Sunday announced a fresh agitation against black money and corruption and said he will stage a one-day dharna on June 3 at New Delhi to mark the first anniversary of the police crackdown on his supporters at Ramlila grounds.
In a major boost to measures being taken by India against money laundering and terror financing activities, the Financial Action Task Force (FATF) on Wednesday said the country has substantially addressed the deficiencies in its regulatory framework and has become largely compliant with global standards in this regard.
Government unlikely to bring in an ordinance to address the developments arising out of the Supreme Court order.
Tax experts said many would use this to bring black money and cash stashed in tax havens into the country.
Delays in action against black money by way of committees and studies will give time to corrupt politicians, businessmen and bureaucrats to divert their ill-gotten funds into shell companies, an eminent Jawharlal Nehru University professor has said.
Rejecting the charge that the National Democratic Alliance has done a U-turn on disclosure of names of black money holders, Finance Minister Arun Jaitley has said the government will not be pushed into an act of adventurism and jeopardise the chances of getting cooperation of other countries in future.
'For me, if I want to buy a house to stay, I don't care about indexation because I don't want to sell that house.' 'The only thing that matters to me as a buyer is that the home price should be within my reach.' 'Any market, when speculators and investors go out, it will benefit the middle class.'
The government may on Monday file an additional affidavit in the Supreme Court over the black money issue, stating clarification on its earlier stand of not revealing the names of those account holders who have deposited money in foreign banks.
Rahul Gandhi's retort to PM Modi came after the latter attacked him at an election rally saying why he has "stopped" naming Adani and Ambani in his attacks and whether he has received money from them in return.
It is suspected that some of these entities may have brought back their illicit wealth through the stock market route.
In the last Budget, the government had come out with similar compliance window for people holding undisclosed assets abroad.
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