Black Money Deadline

The tax and penalty against those who hide their black money could go as high as 137 per cent of the cash deposits made, a senior officer at the Income Tax department said.

The opposition has criticised the centre for not releasing data on how much of the banned 500 and 1,000 notes are back in the banking system, eight days after the deadline to deposit old notes in banks expired.

Indians have deposited nearly all the currency bills outlawed at the end of the deadline last year, according to people with knowledge of the matter, dealing a blow to Prime Minister Narendra Modi's drive to unearth unaccounted wealth and fight corruption.

India was promised a miracle in 50 days starting D-day or demonetisation day on November 8. Well, here we are at the deadline, the miracle is nowhere in sight and the bad news just grows and grows - for ordinary people, for the economy, for the country. In a two-part series, I will bring to you 50 facts related to the 50 days. I hope to establish t...

The deadline to submit invalid 500- and 1,000-rupee notes ends today. The RBI has asked banks to submit details of the deposits made in the outlawed currency. It is estimated that more than 90% of the cancelled notes have been already deposited in banks, which means that the government's intention of removing black money may have missed its mark. H...

The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...

Mahesh Shah, the Ahmedabad-based businessman, who had gone missing last month after declaring black money worth Rs 13,860 crore in September, told the income tax officials today that he was just a front for the unaccounted money which belongs to many people including politicians, bureaucrats and builders.

An Ahmedabad-based businessman, who had declared black money worth over 13,000-crore in October, has gone missing. Income Tax authorities are on the lookout for Mahesh Shah, who had declared the huge sum under the Income Declaration Scheme - which provides immunity to those who declare and pay the required tax on their hidden income.

The Bombay High Court has sought response from the Finance Ministry and Reserve Bank of India on a plea seeking extension of deadline for exchanging the demonetised notes.

The government has said that it is sticking by the end-of-the-year deadline for depositing the 500 and 1,000-rupee notes that were banned earlier this month. The outlawed notes must be submitted to bank branches before they close on December 30. Those who have black money have a new chance to make the disclosure and hold onto 50% of the amount. The...

To signal his commitment to his crackdown on tax evasion and corruption, Prime Minister Narendra Modi has ordered all his party's lawmakers to submit details of their bank records from November 8, when he announced a ban on high-denomination notes - to December 31, which is the deadline for submitting the outlawed notes.

Mamata Banerjee and Arvind Kejriwal made a double bore attack on the government today, warning that there will be intense protests and unrest if it does not withdraw its ban on 500 and 1,000 rupee notes. They also visited the Reserve Bank of India to check on the progress of printing new notes, Mr Kejriwal said.

The Shiv Sena on Saturday urged Union Finance Minister Arun Jaitley to extend the deadline for using the demonetised notes for utility payments and exchange till December 30.

Government ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window.

The government on Friday said it is not considering any proposal to extend the four-month deadline for disclosing domestic black money under the Income Disclosure Scheme (IDS), which ends on September 30.

The tax and penalty against those who hide their black money could go as high as 137 per cent of the cash deposits made, a senior officer at the Income Tax department said.

The opposition has criticised the centre for not releasing data on how much of the banned 500 and 1,000 notes are back in the banking system, eight days after the deadline to deposit old notes in banks expired.

Indians have deposited nearly all the currency bills outlawed at the end of the deadline last year, according to people with knowledge of the matter, dealing a blow to Prime Minister Narendra Modi's drive to unearth unaccounted wealth and fight corruption.

India was promised a miracle in 50 days starting D-day or demonetisation day on November 8. Well, here we are at the deadline, the miracle is nowhere in sight and the bad news just grows and grows - for ordinary people, for the economy, for the country. In a two-part series, I will bring to you 50 facts related to the 50 days. I hope to establish t...

The deadline to submit invalid 500- and 1,000-rupee notes ends today. The RBI has asked banks to submit details of the deposits made in the outlawed currency. It is estimated that more than 90% of the cancelled notes have been already deposited in banks, which means that the government's intention of removing black money may have missed its mark. H...

The government is now focusing on printing 500 rupee notes, Economic Affairs Secretary Shaktikanta Das said on Thursday, hours before a deadline for using old 500 and 1000 rupee notes at petrol pumps and some other facilities ended. From midnight to December 30, old notes can only be deposited in banks. Prime Minister Narendra Modi had on November ...

Mahesh Shah, the Ahmedabad-based businessman, who had gone missing last month after declaring black money worth Rs 13,860 crore in September, told the income tax officials today that he was just a front for the unaccounted money which belongs to many people including politicians, bureaucrats and builders.

An Ahmedabad-based businessman, who had declared black money worth over 13,000-crore in October, has gone missing. Income Tax authorities are on the lookout for Mahesh Shah, who had declared the huge sum under the Income Declaration Scheme - which provides immunity to those who declare and pay the required tax on their hidden income.

The Bombay High Court has sought response from the Finance Ministry and Reserve Bank of India on a plea seeking extension of deadline for exchanging the demonetised notes.

The government has said that it is sticking by the end-of-the-year deadline for depositing the 500 and 1,000-rupee notes that were banned earlier this month. The outlawed notes must be submitted to bank branches before they close on December 30. Those who have black money have a new chance to make the disclosure and hold onto 50% of the amount. The...

To signal his commitment to his crackdown on tax evasion and corruption, Prime Minister Narendra Modi has ordered all his party's lawmakers to submit details of their bank records from November 8, when he announced a ban on high-denomination notes - to December 31, which is the deadline for submitting the outlawed notes.

Mamata Banerjee and Arvind Kejriwal made a double bore attack on the government today, warning that there will be intense protests and unrest if it does not withdraw its ban on 500 and 1,000 rupee notes. They also visited the Reserve Bank of India to check on the progress of printing new notes, Mr Kejriwal said.

The Shiv Sena on Saturday urged Union Finance Minister Arun Jaitley to extend the deadline for using the demonetised notes for utility payments and exchange till December 30.

Government ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window.

The government on Friday said it is not considering any proposal to extend the four-month deadline for disclosing domestic black money under the Income Disclosure Scheme (IDS), which ends on September 30.