A total of 64,275 declarations were made under the scheme, an average of Rs 1 crore per disclosure. This is expected to translate into tax collection of about Rs 30,000 crore from the scheme, of which the government exchequer should get around Rs 15,000 crore by the end of 2016-17.
A classic example of a leader who has chosen to risk everything for his vision.
Meeting the disclosure norms isn't very easy.
The Reserve Bank of India on Monday directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team (SIT) set up to unearth black money.
As the government submitted a list of 627 foreign account holders to the Supreme Court on Wednesday, the spotlight is on family of former Maharashtra chief minister, former minister in the UPA government, a Mumbai-based corporate among others. Vrishti Beniwal reports
Indian Grandmaster R Praggnanandhaa faces Anish Giri in a crucial Candidates Tournament round, seeking a vital win to improve his standings. The tournament also features strong performances from Javokhir Sindarov and Anna Muzychuk in the women's event.
Delhi Police have arrested four men from Maharashtra, Odisha, and Bihar for allegedly planning terror activities and attempting to recruit others online. An IED and related materials were seized during the operation.
The 22-year-old daughter of an IRS officer was allegedly raped and murdered at her Delhi residence. Police suspect a former domestic help, who is currently absconding.
Filing with inadequate disclosure of assets will be liable for prosecution
India has already signed the OECD's global standard for automatic exchange of information between tax authorities two years back and once the new format is implemented, the country will follow the new protocols envisaged in it.
Experts of both the countries will meet by mid-September 2016 to further discuss the modalities for the reciprocal bilateral implementation of AEOI between India and Switzerland with a view to reaching an agreement at the earliest, possibly by the end of the year
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 Monday.
Indians having undisclosed property abroad will have to pay tax and penalty.
The exhaustive list was uploaded on the official web portal of the department.
He said this in Parliament rebutting reports last month, which quoted the Swiss National Bank, the country's central bank, as saying in its annual report that Indian deposits had risen by 50 per cent in 2017.
Indian Grandmaster R Praggnanandhaa faced a setback at the Candidates chess tournament, while Javokhir Sindarov increased his lead.
G20 summit noticeably lacked in responses to illicit financial flows, one of the largest drags on development worldwide
Incensed by the remark, the Congress President was heard saying, "Kya bola (what did he say)?" While protesting, she addressed Speaker Sumitra Mahajan and said, "What is this?"
Despite Iran allowing 'non-hostile vessels' through the Strait of Hormuz, marine insurance premiums are expected to remain elevated due to persistent high-risk classifications and ongoing geopolitical tensions, with experts cautioning that the threat of attacks and collateral damage still exists.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
Ferrari unveiled the 1,050-hp 849 Testarosa in Mumbai, blending aggressive design with a hybrid V8 powertrain capable of 0-100 km/h in just 2.25 seconds.
Michael remains a passable biopic that looks good, sounds great, and delivers the moments fans came for. But it also feels formulaic in a way that's hard to ignore, notes Mayur Sanap.
In the women's section, World Cup winner Divya Deshmukh turned the tables on overnight leader Anna Muzychuk to jump into joint lead with four others.
He was childlike with a camera in his hands -- not nave, but wonderstruck, as though the world were always on the verge of delivering something unrepeatable. Pulitzer Prize nominee Namas Bhojani recalls his long association with Raghu Rai, the legendary photographer who passed into the ages on Sunday.
Companies were consulting law firms and consultants to understand the Bill.
Delhi Police have busted a Pakistan-linked terror module recruiting Indian youth through social media, arresting a key operative and uncovering plans for potential attacks.
'It will cause problems for people who deal in small amounts of cash.' 'I hope it does not cause law and order problems.'
He raised the issue while mocking at the excavation being conducted by the Archaeological Survey of India in Unnao in Uttar Pradesh after a saint said he had dreamt about 1000 tonnes of gold being underneath at a place there.
Bengaluru police arrested four individuals, including three from other states, for allegedly selling banned narcotic substances. The police seized a significant quantity of ganja, hydro ganja, and MDMA.
Three institutes entrusted with the task to estimate amount say data collection a hurd#8804 to submit report by December.
Mahindra pushes premium EV strategy with XEV 9e Cineluxe, blending luxury design, immersive technology and over 500 km range capability.
A Pune-based businessman has accused self-styled godman Ashok Kharat of defrauding him of Rs 6 crore (600,000) under the guise of helping him establish a logistics business abroad. This is the eighth case registered against Kharat, who is already in police custody on separate charges.
'The low tax to GDP ratio of the country will go up, helping the government to adhere to fiscal discipline and keep inflation in check.'
The sources said the taxman has initiated a country-wide operation to identify suspect bank accounts where huge cash deposits have been made post November 8.
While the black money declarations may go up further once all the online and manual filings of undisclosed assets filed at the end of the four-month window on September 30 are compiled, the government will get this fiscal nearly Rs 14,700 crore or half of the total taxes due.
The RBI has also been asked to consider displaying this information on its website.
'For him what's important is relationships, his role, and, of course, the script.' Rediff celebrates Shah Rukh Khan's 60th birthday on November 2 with a special series that introduces us to the man behind the superstar.
JioBlackRock Asset Management Pvt Ltd, a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock, on Monday announced closure of its maiden New Fund Offer (NFO), recording a total investment of Rs 17,800 crore ($2.1 billion).
It is not perfect, given its lack of space and no diesel engine, but as a package the new Duster is brimming with character, which appeals to you in the end, says Somnath Chatterjee.
A US judge has granted Gautam Adani's request for a hearing to dismiss a US Securities and Exchange Commission (SEC) fraud case, with Adani's legal team arguing the case lacks jurisdiction and credible evidence.
