The Central Board of Direct Taxes is set to rationalise I-T rules.
The Constitution bench is hearing a batch of 58 petitions challenging the demonetisation exercise.
The Indian money in Swiss banks had fallen by 45 per cent in 2016, marking their biggest ever yearly plunge, to CHF 676 million (about Rs 4,500 crore) -- the lowest ever since the European nation began making the data public in 1987.
'Switzerland is a country which wants to be part of the international mainstream'.
Arun Jaitley has promised a compliance window under the new black money law for persons with overseas funds to come clean.
Undisclosed foreign assets and funds worth Rs 350 crore detected; these are separate entities from those featured in Panama Leaks and Paradise Papers
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
Citing national security and confidentiality clauses, the Finance Ministry has declined to disclose information on exchange of correspondence among India, Swiss and German authorities in connection with the black money probe.
The blandness of the script and the just about passable performances make Mercy a wearying watch, particularly since the complexities of euthanasia are not adequately explored, observes Deepa Gahlot.
Manish Sabharwal tackles 5 criticisms of demonetisation.
The minister further said that he received a reply on his letter from his Swiss counterpart and will send India's response in the next few days.
'I think investors see a lot of positives happening in India now.'
The government on Friday announced some concessions for mutual fund industry and income tax payers, while comitting to low tax regime to promote industrial activity to generate jobs and create more resources to undertake social welfare activities.
The Reserve Bank on Thursdaysaid it is keeping a close watch on global banking major HSBC.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
Professor R Vaidyanathan, who has written extensively on the issue of black money stashed abroad, tells Rediff.com's Vicky Nanjappa that it's very important for Arvind Kejriwal to reveal his source of information on his latest anti-graft expose.
The Budget has proposed a Benami Transactions (Prohibition) Bill.
Justice BV Nagarathna said she had to dissent against the demonetisation move by the central government as in 2016, when the decision was announced, the Rs 500 and Rs 1,000 notes comprised 86 per cent of the total currency notes in circulation, and 98 per cent of it came back after they were banned.
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 issue of black money created uproar in Lok Sabha on the first working day of Winter session with Opposition asking the government to fulfil its promise of bringing it back from abroad.
The I-T department has also filed 77 prosecution cases.
A CBTR pertains to transfer of funds through various channels abroad.
The Financial Intelligence Unit will apply a multi-pronged approach in probing black money, counterfeit currency, terror funds and hawala transactions as it believes they are all interlinked, reports Vicky Nanjappa.
Today, the single most popular route of laundering is the stock market platform, notes Debashis Basu.
The government on Monday disclosed before the Supreme Court eight more names including that of Pradip Burman, one of Dabur India promoters, a bullion trader and Goa miners against whom it has started prosecution for allegedly stashing blackmoney in foreign banks.
Move will be a setback for India which wants information on black money probe based on leaked data
In a shocking revelation, WikiLeaks founder Julian Assange said black money mainly comes from India.
Sources said that the capital markets regulator Securities and Exchange Board of India has come across quite a few cases where GDR route could have been used for round-tripping of funds in the name of capital-raising activities of listed companies from abroad.
As his fast entered the second day, yoga guru Ramdev on Friday asked Prime Minister Manmohan Singh to demonstrate "political honesty and political will" in bringing back black money stashed away in foreign shores which can be spent on empowering the people.
However, India's black money loss of $123 billion in 10 years is far less that China, which according to the report suffered a loss of $2.74 trillion during the same period (2001 to 2010), followed by Mexico ($476 billion), Malaysia ($285 billion), Saudi Arabia ($201 billion), Russia ($152 billion), the Philippines ($138 billion) and Nigeria ($ 129 billion).
To curb the black money problem, Jaitley said that India would be entering into bilateral pacts with Switzerland and other countries for automatic exchange of tax information.
In the wake of Congress President Sonia Gandhi's remarks against the Opposition and civil society, Bharatiya Janata Party President Nitin Gadkari said on Monday her charges were baseless and sought to know if the Congress feels yoga guru Ramdev's demand for bringing back black money is anti-national.
Karnataka Minister Priyank Kharge and Congress leader B K Hariprasad have raised concerns about the RSS not being a registered organization and questioned the sources of its funding, alleging that this lack of registration allows the RSS to evade government regulations. BJP leaders have defended the RSS, stating that registration is not mandatory for all organizations.
Switzerland on Thursday said it would share data of black money allegedly stashed away by Indians in Swiss banks in accordance with the tax treaty between the two countries.
The issue of black money has been a matter of great debate in India and Switzerland has been long perceived as one of the safest havens for the illicit wealth
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. The funds held by Indians through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown. It is now at second-lowest level in 20 years.
Naidu also termed the dharna by opposition leaders near the Gandhi statue in Parliament premises as a big tamasha and an insult to the Father of the Nation.
As much as 73% of total income of national political parties is unaccounted for, says Association for Democratic Rights.
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.
The compliance window is proposed to be open from June 1 to September 30, 2016 and the payment can be made within two months of declaration.
