Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
Banks asked to maintain record of cash being ferried in these vehicles all the time
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
Ferrari introduces the 849 Testarossa in India, a stunning hybrid supercar blending retro design with modern technology and V8 power for the ultimate driving experience.
The government on Thursday clarified that black money declarants using the one-time compliance window cannot pay tax and penalty from undisclosed income to bring down their liability.
With the 40kWh battery and 65kW faster charging, it is now a legitimate primary car for a small family that can handle weekend trips easily, says Rajesh Karkera.
The Supreme Court today decided to hear on February 19 an application seeking speedy hearing of a plea by jurist Ram Jethmalani accusing the Centre of not implementing its directions on the issue of black money allegedly stashed in banks abroad.
The Income Tax department is likely to initiate prosecution against close to 300 people whose names have been submitted to the Supreme Court on Wednesday in connection with the probe into alleged black money accounts in HSBC bank in Geneva.
It is said that in Chennai, fans do not watch cricket -- they analyse and debate it and even outthink the experts. Cricket here is savoured like their favourite dish -- a hot bowl of rasam.
Online trucking platform BlackBuck co-founder & CEO Rajesh Yabaji on Tuesday said that the company has decided to move out of its current location at Bellandur on Bengaluru's Outer Ring Road (ORR), citing commuting and road infrastructure issues. The ORR, which is one of the IT corridors in the city, often witnesses traffic congestion.
If India was able to provide additional and new information about people and entities that figure on stolen lists, they may consider it to exchange information
In the first tranche, the department will send out letters in 100,000 cases where the money spent is at least Rs 1 crore (Rs 10 million) each a year.
'It's a changing world and the opening up doesn't mean that concerns with regards to security have gone away.'
The Bill could be referred to the Parliamentary Committee for scrutiny
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
IndiGo operator InterGlobe Aviation had a mildly encouraging third quarter in financial year 2026 (Q3FY26).
'I can sanction projects worth Rs 20 trillion annually as of today.' 'But my system is only capable of executing projects worth Rs 3 trillion to Rs 4 trillion.'
The V-Class will be locally produced at the Mercedes facility in Chakan, near Pune, making it the second product, after the Mercedes-Maybach GLS, to begin local production.
Why not stream all the data in real time to multiple recipients? It would make the investigation of aviation incidents much easier and far more transparent, recommends Devangshu Datta.
Bugonia's ending, though not unexpected, is still shocking, reveals Deepa Gahlot.
Addressing Parliament on the first day of Budget session, President Pratibha Patil said steps have already been initiated for negotiations to enter into agreements for the exchange of information with major jurisdictions.
Though there are different views on the Global Financial Integrity numbers that the BJP cites, getting the money back to India is not going to be an easy task
A Delhi court has declared UK-based arms consultant Sanjay Bhandari a fugitive economic offender on an Enforcement Directorate plea.
The most expensive cars on the planet in 2026 got their price tag for their advanced engineering and bespoke craftsmanship. Produced in numbers so small they border on myth.
While posting the matter on April 29, the bench asked the Solicitor General to take proper instruction from the Revenue Secretary and also respond "What prevented them (Centre) to comply with the directions."
Ex-bankers, retired government officials and journalists have been roped in by the Election Commission to hold 'charcha' or dialogue sessions with voters as part of its drive to crack down on black money instances in "expenditure-sensitive" pockets.
It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.
'Considering that there was an estimated Rs 10 lakh crores of Indian money stolen and kept in foreign tax havens, the UPA government with one stroke of its tainted pen has granted immunity to tax-evaders who had stashed the loot in tax havens.'
Black money Bill: Govt may widen disclosure window to 3-6 months.
If the oil infrastructure is attacked by the United States, the whole area could be flooded with oil, spilling into the Persian Gulf.
The govt has framed a five-pronged strategy to fight the menace of tax evasion.
Navjot Kaur Sidhu claims support within the Congress party after being suspended for her controversial remarks. She also accuses Sukhjinder Singh Randhawa of corruption and links to smugglers.
What is worrying analysts is that such money that flows into India seems to be the money of Indians, sent abroad first through the hawala route and then subsequently laundered abroad, especially in tax havens.
'Within six months I expect petrol, diesel, and electric vehicles (EVs) to reach cost parity,' says Union Minister for Road Transport and Highways Nitin Gadkari.
Expecting the economy to slow down in the current fiscal amid global recession, President Pratibha Patil said the new government will focus on adversely-affected sectors like infrastructure, exports, SMEs, and housing to restore the growth momentum.
On the back of an aggressive asset monetisation push, the government will press the throttle on the build-operate-transfer (BOT) model - under which private developers fund highway construction - for future highway development, Union Minister for Road Transport and Highways Nitin Gadkari said.
Slammed the Centre for trying to shield black money holders, the Apex court has said that the list must be revealed by Wednesday.
Prime Minister Manmohan Singh on Monday said the United Progressive Alliance government swung into action to unearth unaccounted Indian money lying abroad after some instances of such funds in Germany and Switzerland were brought to its notice.
