Finance ministry has halved the tax rate on foreign dividend from 30 per cent to 15 per cent, but the rebate is allowed only for the financial year 2011-12.
Tehelka magazine said two years ago the German government had passed on the names and bank account details of 18 Indians who had invested their wealth in the LGT bank in Liechtenstein, a well-known tax haven.
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The Finance Ministry had set a time period of 18 months, which expired last year on August 21, for completion of the study.
Govt to introduce comprehensive law on black money
Identity of 427 account holders abroad has been established and 250 of them have admitted to having accounts, Finance Minister Arun Jaitley revealed on Wednesday.
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.
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.
When Hitesh Harisinghani and Jahnavi Patel hit the streets of Mumbai after Modi's demonitisation announcement, here's what they found.
The cumulative illicit money moving out of India over a ten-year period rose to $439.59 billion
'How will this woman find her? And how does that affect her, because it's not a biological relationship.'
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 first high-level meeting of the Special Investigation Team on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held in New Delhi on June 4.
The minister said any declaration made under the law will be protected
Government may bring a new law on black money during the ongoing Parliament session.
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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.
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 apex court said its two-judge bench in its July 4 2011 order for setting up of SIT felt that 'no effort was made to bring back the money stashed in foreign banks' which could have been accounted and pumped into the 'mainstream of the Indian economy'.
The government has stated that it will make all efforts to bring back illicit wealth parked by its citizens in foreign jurisdictions.
The government on Tuesday faced the ire of the Supreme Court for opposing formation of a Special Investigating Team to probe the case of black money as the court said it was needed because the agencies involved in the three-year probe have not gone into the source of the money.
Special Investigation Team on black money will hold a meeting.
Death may be a tragic affair, but cinema has often found humour lurking even within the morbid.
Yoga guru Baba Ramdev on Wednessay said the people would like to see Congress General Secretary Rahul Gandhi as a "permanent" prime minister if he meets the demands for bringing back black money stashed abroad and eradicating corruption.
The Enforcement Directorate (ED) has arrested self-styled godman Ashok Kharat, accusing him of systematic extortion and money laundering through a network of bank accounts. Kharat allegedly rotated over Rs 47 crore of ill-gotten money through 60 bank accounts, deceiving devotees by claiming divine powers.
Switzerland has come under international pressure, including from India, amid concerns that black money is stashed in Swiss banks.
The Income Tax department is said to be mulling prosecution against the HSBC bank for allegedly being the conduit for Indians in stashing money abroad.
Shah claimed that BJP was sensitive to the problems being faced by people queuing up outside the banks and ATMs but said they must realise that the step had hurt 'those sleeping over hoards of black money three thousand times more than the people on the streets'.
The government on Thursday insisted in the Lok Sabha that it had never claimed that all the black money stashed abroad would be brought back within 100 days even as the opposition continued to target it over the issue.
Arun Jaitley declared proposal for a comprehensive law.
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.
Rajya Sabha returns Finance Bill to Lok Sabha; budgetary process over in both Houses, President nod needed now.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Two wanted criminals from Bihar were arrested in Rishikesh following a police encounter. The accused, identified as Aamir and Anwarul Haq, sustained bullet injuries and were wanted for a recent shooting in Rishikesh and a fatal robbery in Bihar. The arrests occurred during a vehicle checking drive for the Char Dham Yatra.
Two wanted criminals from Bihar were arrested in Rishikesh following a police encounter. The accused, identified as Aamir and Anwarul Haq, sustained bullet injuries and were wanted for a recent shooting in Rishikesh and a fatal robbery in Bihar. The arrests occurred during a vehicle checking drive for the Char Dham Yatra.
The Centre on Friday declined before the Supreme Court to make public names of the people who have stashed black money in foreign banks, saying it is not possible to disclose information received from foreign governments under Double Taxation Avoidance Agreement.
It is suspected that some of these entities may have brought back their illicit wealth through the stock market route.
The submissions were made in an affidavit filed in response to a batch of pleas challenging the Centre's 2016 demonetisation decision.
If you enjoy dark comedies, have even a passing understanding of the film industry, or simply recognise the absurdities of the world around you, then Mollywood Times emerges as one of the sharpest and most compelling love-hate letters written to Malayalam cinema, applauds Sreeju Sudhakaran.
The Supreme Court on Wednesday expressed displeasure over the government's reluctance in coming forward with full information on the black money stashed by Indians in foreign banks, saying it as a theft of national wealth and amounted to 'plunder' of the nation.
The five-day event, scheduled from July 18 to 22 at Kochi, Kerala, will be attended by Finance Minister Pranab Mukherjee, who will make the opening address on July 19, an official statement said.
The Supreme Court on Thursday slammed the government again over the issue of illicit wealth parked in foreign banks, asking it to file a report on the action taken by it against people and firms that have stashed black money in tax havens abroad.
