The Congress followed next with Rs 620 crore or 18.5 percent of the total expenses among the 32 national and regional parties whose records were analysed, the ADR said.
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
It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.
What are you going to watch on OTT this week? Sukanya Verma lists your options.
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.
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."
'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.'
The govt has framed a five-pronged strategy to fight the menace of tax evasion.
Black money Bill: Govt may widen disclosure window to 3-6 months.
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.
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.
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.
Non-reporting of overseas income by employers may be categorised as 'abetment' under the Act.
The Renault Triber's USP remains its exceptional interior space and seven-seater capability, a combination rarely found in the 7 lakh to 10 lakh on-road price bracket in India.
The Income-Tax Department on Sunday cautioned taxpayers that failure to disclose assets held abroad or income earned in foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law. The department issued a public advisory as part a compliance-cum-awareness campaign launched recently by it on Saturday to ensure that such information is reported by the assessee in their Income Tax Return (ITR) for assessment year (AY) 2024-25.
'When you are a pioneer and someone who's put on a pedestal, but then the pedestal gets dusty, people don't look at the statue anymore.' 'They would say, 'Yes, yes, of course I know Bimal Roy. He made Do Bigha Zamin.'.'
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
Jio BlackRock Asset Management Pvt Ltd, a 50:50 joint venture between Jio Financial Services Ltd (JFSL) and US-based BlackRock, has received regulatory approval from the capital market regulator Sebi to commence operations as an investment manager for its mutual fund business. The Securities and Exchange Board of India (Sebi), vide letter dated May 26, 2025, has granted the certificate of registration to 'Jio BlackRock Mutual Fund' and approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for Jio BlackRock Mutual Fund, JFSL said in a regulatory filing.
After resisting for more than three years, the Centre on Tuesday revealed names of 18 persons in the Supreme Court who allegedly stashed black money with the LST bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.
The government on Saturday said it has served notices to 17 persons who allegedly kept untaxed money in foreign banks and prosecution has begun against them, but refused to reveal their names. The comments, made by Finance Minister Pranab Mukherjee, came a day after some media reports revealed names of 15 entities, including individuals and trusts, who allegedly kept illicit money in LGT Bank of Liechtenstein, an European country neighbouring Switzerland.
Finance Minister Pranab Mukherjee will announce the measures the United Progressive Alliance government intends to take to bring back the unaccounted money into the country and tighten the regulatory and tax framework to prevent further illegal outflows.
'Then why should people like us face this inconvenience?'
The Indian government as respondent in Sanjay Bhandari extradition case has sought permission from the London high court to appeal against the discharge of the defence sector consultant wanted in Delhi to face charges of alleged tax evasion and money laundering.
There is a clever modus operandi to keep the identity of the stash holder under wraps.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
Janata Party President Subramanian Swamy on Monday met Central Bureau of Investigation director and demanded registration of cases against Indians who have allegedly stashed away money in foreign banks.
'Shibu Soren was the tallest leader of tribals in the country.'
Last month, the DRI had claimed to have busted over Rs 1,000 crore hawala racket in Punjab.
"Does that mean the Enforcement Directorate mislead Supreme court? It seems so. This is very serious. I am surprised to know about the judgment," said apex court's topnotch lawyer Harish Salve reacting to a Mumbai court's rejection to the plea by the ED seeking remand of Hasan Ali Khan for his custodial interrogation in a money laundering case.
Switzerland says it is not a tax haven.
Describing black money as the 'black godmother' of all evils engulfing the country, Law Commission chairman P V Reddy said on Wednesday that to tackle the menace, the government needs to unleash a 'fear psychosis' on wrongdoers that they will be detected and punished.
India Inc reacted cautiously to allegations on Swiss a/cs.
Tax collection at source on purchase, in cash, of bullion or jewellery in excess of Rs 2 lakh is one step announced.
Tax department has launched 60 prosecutions.
Proposed scheme will not provide immunity to tax defaulters.
From going all glitz and glam to dishing out desi girl goals, Namrata Thakker looks at all the fashion that we loved this month.
For Luxmi, the Brew Tea deal ticks key boxes in its strategy, mainly, focusing on quality and branding.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances