Arms dealer Sanjay Bhandari has opposed the Enforcement Directorate's (ED) plea in a Delhi court seeking to declare him a "fugitive " in connection with a black money case. Bhandari claims his stay in the UK is legal as the London High Court denied his extradition to India. The court's decision was also cited by an English court in April to deny the Indian government's request to extradite another accused in a rice-buying scam. Bhandari's lawyer argued that the ED's application was "vague, misplaced and without jurisdiction " and that the value involved in the case was less than the required Rs 100 crore to declare someone a "fugitive. " The Delhi court has sought the ED's rebuttal to Bhandari's argument by May 3.
'Among corporates, about 60% of income is now reported under the new tax regime.'
With the Union Budget 2026, India's 74th, fast approaching, all eyes are once again on New Delhi's North Block as Finance Minister Nirmala Sitharaman is preparing to table it on February 1, 2026, marking her ninth Budget presentation in a row.
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.
'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
An enormous amount of black money flows in and out of the banking system and still remains black.
'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.
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.
Karnataka Minister Priyank Kharge and Congress leader B K Hariprasad have raised concerns about the RSS not being a registered organization and questioned the sources of its funding, alleging that this lack of registration allows the RSS to evade government regulations. BJP leaders have defended the RSS, stating that registration is not mandatory for all organizations.
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.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the "high-risk" cases identified for non-disclosure of foreign assets in the income tax returns (ITRs) filed for Assessment Year (AY) 2025-26, sources said.
The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process.
Compliance window for those with undisclosed income abroad to come clean by paying 30 per cent tax and 30 per cent penalty
Assets worth only Rs 4,000 cr declared till mid-August; govt expects pick-up in last 2 weeks
'The cash part is the lower hanging fruit compared to the other sources.' 'To attack the cash part of black money, I can't think of anything else but demonetisation.'
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
The crackdown on black money has manifested itself in a doubling in outward remittances as black money attempts to leave India.
'Corruption is the tree.' 'Black money is the fruit from the tree.' 'This scheme will expose the unaccounted fruits of the tree.' 'But since the tree will continue to stand, the story will continue,' say Pramod Kumar Srivastava, Sanghamithra and Kravya.
Industrialist and MP Rahul Bajaj on Wednesday added a new dimension to the debate over black money, saying it funds political parties.
India will begin its first round of consultations with the Swiss government on tracing black money stashed by Indians in banks in that country in December, but there is no guarantee of prosecution of offenders on the basis of information secured from them.
Indrani Mukerjea, in pure white, sporting dancing pearl jhumkas, bobbed about the accused box, occasionally floating up front to whisper urgent suggestions to her lawyer Ranjeet Sangle as retired cop and prosecution witness Dinesh Kadam gave her a long look. Vaihayasi Pande Daniel returns to cover the Sheena Bora murder trial after 18 months.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
Total amount in these accounts is estimated to be around Rs 1,500-1,600 cr
The 68th Grammy Awards began at the Crypto.com Arena in Los Angeles.
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
Under the new rules, users must take a "live selfie" using software that verifies their presence, typically through eye-blinking or head movement. The measure helps prevent the use of static photos or deepfakes.
'Sunny sir was very different from what we imagined -- calm, shy, and soft-spoken. He didn't talk much, just smiled gently.'
It isn't easy for a girl from Gopal Nagar to chase a dream. But Pinky was extremely determined. A force unto herself, she was going to go places. Literally. Till it abruptly ended one morning on the tarmac at Baramati airport.
'In three years, you will have an AI model that will be smarter than the smartest mathematician or the smartest scientist.'
"Let people pay, but if they don't pay, go after them"
'When markets go into a budget with excessive optimism, the risk of disappointment is higher.'
Beginning its campaign in India, the Global Institutional Investors Forum said that Mauritius was fully supporting India's fight against black money and money laundering and it was 'a clean, transparent jurisdiction of substance.'
Bharatiya Janata Party president Nitin Gadkari on Wednesday launched an attack on the Congress-led United Progressive Alliance government in the Centre for not taking any action against black money stashed away in foreign banks.
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
India is the latest of several nations to raise the alarm about illicit capital flight. Following high-profile scandals involving Liechtenstein and Switzerland, the Group of 20 nations has demanded greater co-operation in tackling the shadow financial system.
His remark comes hours after the government disclosed before the Supreme Court eight more names, including that of Pradip Burman, one of Dabur India promoters, a bullion trader and a Goa miner against whom it has started prosecution for allegedly stashing black money in foreign banks.
'In the total of black wealth, only 1% or less than 1% constitute cash.' 'So, even if cash is completely weaned out, it impacts only 1% of the black wealth.'
The Enforcement Directorate (ED) has summoned Rajkot-based bullion trader Pankaj Lodhiya, whose name figured in the list of black money holders submitted by the government to the Supreme Court, to probe if he was involved in hawala trade.
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