Taxing Black Money Holders
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Analysing Swiss Bank Accounts Data Of Indians, Says Tax Body Chief
Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.
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India Gets First Chunk Of Data On Swiss Bank Account Holders
India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.
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Over Rs 19,000 Crore In Black Money Detected After Probe Into Global Leaks
The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the Indian government said on Friday.
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From Gold To Shell Companies: Inside The Tax Department's Hunt For Black Money
The Income Tax Department has launched a massive hunt for undeclared cash across the country post demonetisation.
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'Come Clean' Says Taxman To Black Money Holders As March Deadline Looms
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.
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'Countdown' Has Begun, Income Tax Department Warns Black Money Hoarders
The Income Tax department today warned black money holders that it has "information" about their illegal deposits and they should avail the soon-to-end the Pradhan Mantri Garib Kalyan Yojana (PMGKY) window to come clean.
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Taxman Scans One Crore Accounts In Clean Money Drive: Report
The tax department has run big data analytics through more than one crore accounts in its data bank and done matching with the taxpayer profile of the holder, a top source said.
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Do Explain: 13 Lakh People Get SMSes, Emails For Deposits After Notes Ban
Emails and text messages have been sent today to the majority of 18 lakh people identified for making suspicious and large cash deposits after Prime Minister Narendra Modi's sudden abolition of high-value notes.
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Income Tax Department Begins Action Under Benami Act; Issues 87 Notices
Initiating a stringent action against black money holders post notes ban, the Income Tax department on Monday said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a heavy penalty and rigorous jail term of a maximum 7 years.
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'Your Undisclosed Cash Deposits Not Hidden From Us': Tax Department Warns
The department added that "total confidentiality is ensured" under the scheme that is open till March 31.
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60 Lakh Depositors Put Rs 7 Lakh Crore In Banks Since November 8: Report
Top officials said that while the government will not hound any genuine depositor, it will not hesitate to litigate at any forum to catch any black money holder trying to convert illegal wealth into white.
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How To Avail PMGKY, The New Black Money Disclosure Scheme
The Pradhan Mantri Garib Kalyan Yojana provides last chance to holders of undisclosed income in the form of old 500 and 1,000 rupee notes to come clean.
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Black Money Holders Get Last Chance To Disclose Till March 2017
Not declaring the black money under the scheme now but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty.
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Government To Notify Scheme For Taxing Black Money Holders This Week
Government is likely to notify this week the scheme giving tax dodgers another chance to come clean by paying 50 per cent of tax on junked currency deposited in banks post demonetisation.
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Government To Notify Scheme For Taxing Black Money Holders This Week
The Pradhan Mantri Garib Kalyan scheme provides for 50 per cent taxes and surcharge on declarations of unaccounted cash deposited in banks. Declarants also have to park a quarter of the total sum in a non-interest bearing deposit for four years.
-
Analysing Swiss Bank Accounts Data Of Indians, Says Tax Body Chief
Central Board of Direct Taxes Chairman Nitin Gupta said Income Tax Department will analyse bank accounts of Indian nationals and organisations it received from Swiss Bank and will take action under black money Act in case any tax evasion was found.
-
India Gets First Chunk Of Data On Swiss Bank Account Holders
India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.
-
Over Rs 19,000 Crore In Black Money Detected After Probe Into Global Leaks
The Income Tax department has detected over Rs 19,000 crore in black money following investigations into global leaks including HSBC account holders in Switzerland, the Indian government said on Friday.
-
From Gold To Shell Companies: Inside The Tax Department's Hunt For Black Money
The Income Tax Department has launched a massive hunt for undeclared cash across the country post demonetisation.
-
'Come Clean' Says Taxman To Black Money Holders As March Deadline Looms
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.
-
'Countdown' Has Begun, Income Tax Department Warns Black Money Hoarders
The Income Tax department today warned black money holders that it has "information" about their illegal deposits and they should avail the soon-to-end the Pradhan Mantri Garib Kalyan Yojana (PMGKY) window to come clean.
-
Taxman Scans One Crore Accounts In Clean Money Drive: Report
The tax department has run big data analytics through more than one crore accounts in its data bank and done matching with the taxpayer profile of the holder, a top source said.
-
Do Explain: 13 Lakh People Get SMSes, Emails For Deposits After Notes Ban
Emails and text messages have been sent today to the majority of 18 lakh people identified for making suspicious and large cash deposits after Prime Minister Narendra Modi's sudden abolition of high-value notes.
-
Income Tax Department Begins Action Under Benami Act; Issues 87 Notices
Initiating a stringent action against black money holders post notes ban, the Income Tax department on Monday said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a heavy penalty and rigorous jail term of a maximum 7 years.
-
'Your Undisclosed Cash Deposits Not Hidden From Us': Tax Department Warns
The department added that "total confidentiality is ensured" under the scheme that is open till March 31.
-
60 Lakh Depositors Put Rs 7 Lakh Crore In Banks Since November 8: Report
Top officials said that while the government will not hound any genuine depositor, it will not hesitate to litigate at any forum to catch any black money holder trying to convert illegal wealth into white.
-
How To Avail PMGKY, The New Black Money Disclosure Scheme
The Pradhan Mantri Garib Kalyan Yojana provides last chance to holders of undisclosed income in the form of old 500 and 1,000 rupee notes to come clean.
-
Black Money Holders Get Last Chance To Disclose Till March 2017
Not declaring the black money under the scheme now but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty.
-
Government To Notify Scheme For Taxing Black Money Holders This Week
Government is likely to notify this week the scheme giving tax dodgers another chance to come clean by paying 50 per cent of tax on junked currency deposited in banks post demonetisation.
-
Government To Notify Scheme For Taxing Black Money Holders This Week
The Pradhan Mantri Garib Kalyan scheme provides for 50 per cent taxes and surcharge on declarations of unaccounted cash deposited in banks. Declarants also have to park a quarter of the total sum in a non-interest bearing deposit for four years.
