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.
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.
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.
As government makes effort to bring illicit money stashed abroad, Finance Minister Arun Jaitley on Monday asked the I-T department to focus its effort on unearthing 'quite large' black money within the country as well.
Senior Bharatiya Janata Party leader L K Advani on Sunday said the issue of bringing back Indian black money illegally stashed away abroad would figure prominently during his anti- corruption 'Jan Chetna Yatra' across the country.
The Bharatiya Janata Party on Saturday accused the Congress-led United Progressive Alliance government of "lacking will" to recover the black money stashed in foreign banks.
'Reservation for the private sector is a bad idea.'
Describing the government's White Paper on black money as "disappointing" and a "non-paper", the Bharatiya Janata Party said on Monday it is "like a bikini" as it hides the essentials and reveals only the less significant details.
As the debate rages over black money, industrialist and Rajya Sabha MP Rahul Bajaj on Friday said that the government should file cases of tax fraud against the suspected, instead of blaming Switzerland for refusing to share details about Indians, who have stashed money there.
The Centre set up a political tug of war with opposition parties which have planned to observe it as a 'black day'
The UPA government has been facing a lot of flak for not doing enough to unearth the black money kept by Indians in banks abroad. Sheela Bhatt reports.
As India and Switzerland prepare to renegotiate the Double Taxation Avoidance Agreement, the Swiss government said it was confident that the pact would be finalised by next year.
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
The absence of criminal legal treaties between India and tax haven nations have been cited by probe agencies working in the SIT on black money as one of the major impediments in initiating steps to bring back illegal funds stashed abroad by Indians.
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.
The government on Wednesday came under a blistering attack in Rajya Sabha on the issue of black money, with Congress asking it to apologise before people for 'selling lies' or else fulfill the poll promise made to them.
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.
This week's OTT releases feature a diverse range of genres, from the adult entertainment platform-focused Margo's Got Money Troubles starring Elle Fanning, Michelle Pfeiffer, and Nicole Kidman, to the Hindi crime drama Matka King with Vijay Varma, exploring Bombay's gambling culture.
According to the latest shareholding pattern of Dabur, Pradip Burman, who is part of the promoter group, holds 0.02 per cent stake in the company.
Tax experts said many would use this to bring black money and cash stashed in tax havens into the country.
Attacking the United Progressive Alliance government on the issue of black money and price rise, Samajwadi Party on Tuesday alleged that the government indulged in corruption.
The database for 'Non-PAN AIR transactions' has already been disseminated to Principal Chief Commissioners based on the regions.
Prime Minister Narendra Modi on Saturday unequivocally said that repatriation of black money kept abroad is a "priority" for his government, as he sought close global coordination to achieve this objective.
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.
The larger amount of black money either goes into domestic real estate or bullion, or is round-tripped back into India anyway.
In a move that could help India track black money, Switzerland on Tuesday relaxed norms for sharing information on secret bank accounts of overseas tax offenders by allowing varied modes of identification.
The court on September 3 asked the SIT to submit its fresh report.
Taking forward its efforts to track and unearth black money, India has now ratified its Double Taxation Avoidance Agreements with SAARC nations and the revised treaties will come into effect from next fiscal.
Clever wordplay does not change the fact that the government is going pretty easy on some tax offenders, says Arup Roychoudhury.
India has been probing hundreds of black money cases.
West Bengal Chief Minister Mamata Banerjee criticised the BJP after the central government failed to pass a Constitution amendment bill for women's quota in legislatures, accusing the BJP of using the bill as a political ploy to divide the country and Bengal.
Scores of National Students' Union of India activists on Tuesday staged a protest outside the residence of Union Home Minister Rajnath Singh in Delhi over the issue of black money stashed away in foreign banks.
Modi lamented that there was a time when people stood for values and the times changed where people started making compromise on corruption
India can now sign treaties with five more countries in its pursuit to bring back black money stashed abroad with the Cabinet on Friday approving such pacts.
Sukumar Mukhopadhyay, former member, Central Board of Excise and Customs, and Govindrao Adik, MP and General Secretary, NCP, debate the pros and cons of offering amnesty to tax evaders.
Government on Monday said Rs 4,147 crore or Rs 41.47 billion has been disclosed under the black money compliance window.
The a/c holder will have to mention the date of opening of foreign a/c.
