Yoga guru Baba Ramdev will embark on "a 1,00,000 km long yatra" on Tuesday from Jhansi in Madhya Pradesh "to awaken people about corruption and black money". The yoga guru told reporters there were "two kinds of people in this country, honest and traitors". He claimed that all honest people were with him in his fight against corruption and black money. The aim of the yatra was to awaken people on the issue of "Rs 4,00,000 crore black money stashed in foreign countries,".
The government on Tuesday said it has received information related to black money from Mauritius and was examining it for appropriate action.
Amid the growing chorus against black money and the government's efforts to pull the plug, Union Law Minster M Veerappa Moily has suggested Finance Minister Pranab Mukherjee to completely overhaul the tax administration.
Switzerland's Ambassador to India Linus von Castelmur also said the past cannot be undone, while promising full support of his country in cases where at least some proof is provided on tax frauds.
As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions. Debjyoti Das, principal chief commissioner of income tax (exemption), said the new Act has already reorganised exemption provisions into a clearer and more coherent structure, and the accompanying procedures and forms are now being examined.
On its first day in office, the Union Cabinet headed by Prime Minister Narendra Modi constituted a special investigative team to unearth illicit money, including in the case involving Hasan Ali.
After assuming office, the Narendra Modi government on Monday constituted a Special Investigative Team to unearth black money.
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.
Perhaps never in the history of independent India has one pillar of the Constitution implicitly castigated another pillar -- the executive, in this case -- as heavily as the Supreme Court has done this time.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
The SIT will ask the RBI for transaction details over 15 years
In spite of the judges questioning the difficulty in revealing the names of those under the scanner, Solicitor General Gopal Subramanium did not reveal the information.
The black money bill got the nod of the Rajya Sabha on Wednesday.
Apex court also expressed its dismay that the government's probe into the issue of black money was focused only on the case involving Pune stud owner Hasan Ali Khan.
The comments assume significance in view of the charges faced by HSBC
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
Undisclosed foreign assets and funds worth Rs 350 crore detected; these are separate entities from those featured in Panama Leaks and Paradise Papers
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.
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
In a major boost to measures being taken by India against money laundering and terror financing activities, the Financial Action Task Force (FATF) on Wednesday said the country has substantially addressed the deficiencies in its regulatory framework and has become largely compliant with global standards in this regard.
Replying to a question in Rajya Sabha, Minister of State for Finance Nirmala Sitharaman said the drive against tax evasion is an ongoing process and the government has taken various steps under a multi-pronged strategy to deal with the issue of black money.
'Switzerland is a country which wants to be part of the international mainstream'.
The Central Board of Direct Taxes is set to rationalise I-T rules.
The SIT on black money has widened its probe.
Former apex court judge M B Shah will also be member of the SIT.
Arun Jaitley has promised a compliance window under the new black money law for persons with overseas funds to come clean.
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.
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.
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.
'I think investors see a lot of positives happening in India now.'
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.
'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 Budget has proposed a Benami Transactions (Prohibition) Bill.
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 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 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.
The I-T department has also filed 77 prosecution cases.
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