The Central Board of Direct Taxes is set to rationalise I-T rules.
Finance Minister Arun Jaitley should not drop the ball on continuing the battle against black money and move towards digital transactions to reduce the preponderance of cash in the economy, says A K Bhattacharya.
As people wait in long queues outside banks, they appear happy that the ban on Rs 500 and Rs 1,000 notes will unearth black money and root out corruption.
Only cash deposits of over Rs 250,000 in bank accounts will be scrutinised by the tax department and in case of mismatch with I-T returns, tax plus 200 per cent penalty would be levied
The concept of gold as an asset capable of getting anytime money is evaporating.
The company releases documentary showing top executives of dozens of realty firms offering to launder black money.
'The entire explanation of the episode is difficult to digest.'
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
Only the hardcore Mohanlal fans will like Mr Fraud which is otherwise an uninteresting film.
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.
CBI sources said Singh appeared before the probe team on Tuesday morning and was questioned.
The maximum fall on total market valuation will be in Mumbai (Rs 2,00,330 crore) followed by Bangalore (Rs 99,983 crore) and Gurgaon (Rs 79,059 crore).
It is possible that this experiment might see a rise in the Union government's cost incurred on tax concessions, without any increase in the tax base or coverage, says A K Bhattacharya.
Financial Intelligence Unit detects over Rs 7,800 cr blackmoney.
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.
Switzerland has come under international pressure, including from India, amid concerns that black money is stashed in Swiss banks.
PMO asked income-tax department to submit report on action taken against identified benami owners
'In difficult times as now, the call of the village is all that these migrants can hear,' observes Vijaya Pushkarna.
Most of the individuals hail from Mumbai, Kolkata, Ahmedabad, Surat, and Delhi
Political funding of elections has led to the rise in black money in the economy.
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.
The money was allegedly diverted by an ATM servicing company in criminal conspiracy with bank officials.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
In an interview to ANI, Union Home Minister Rajnath Singh spoke on various issues, including the Balakot air strikes to the status of Kashmir to the party's manifesto.
FBT was an unpopular tax and withdrawn before the General Elections in 2009
Income tax officials have directed property dealers and registration authorities to prepare a list of top property deals that have taken place in the last three years.
The ED is investigating Lodha after it booked him on criminal charges for his alleged involvement in two high-profile black money cases of illegal conversion of old notes post demonetisation.
If the fight against black money seems half hearted, the same is not the case with gau raksha, says Subir Roy.
In areas bordering Bangladesh, some have received strikingly high deposits in Jan Dhan accounts, said sources.
Months before 8/11, MP, Haryana probed note ban
'If the government had not spent an incredible amount of energy on demonetisation it may -- may, because it had not done anything the previous six months either -- have been able to pay attention to the deeper problems of low investment and job creation.'
Amid concerns of bullion trade being used for routing of black money, Switzerland's gold exports to India have risen further and is fast approaching Rs 1-trillion mark for the entire 2014.
The Supreme Court-appointed SIT on Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.
Risks are increasing with 55 times increase in such transactions over the past three years, says a Assocham-PwC report
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
Housing prices could drop by up to 30% over 6 to 12 months after demonetisation.
It's a close fight between the Election Commission trying its hardest to prevent Tamil Nadu's electoral malpractice and the political parties out to buy votes at any cost, says B Srikumar.
The theory that all banned notes will come back into the system may not be true. Anup Roy finds out.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The Association for Democratic Reforms slams the Budget proposals on political funding, says they lack teeth and show the "lack of political will" in proposing real reforms.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances