Unaccounted Deposits
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"Unaccounted" Deposits Worth Rs 55 Crore Seized After Tax Raids On Ex-Axis Mutual Fund Manager
The Income-tax department has seized "unaccounted" deposits worth more than Rs 55 crore and unearthed "evidences" of large-scale hidden investments after it recently raided Viresh Josh, a former chief trader and fund manager of Axis Mutual Fund.
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Rs 55 Crore Deposits Seized After Raids On Ex-Fund Manager, Share Brokers
The Income-tax department has seized "unaccounted" deposits worth more than Rs 55 crore and unearthed "evidences" of large-scale hidden investments after it recently raided a former chief trader some share brokers and others.
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Government Considering Amnesty For Those With Unaccounted Gold: Report
The Finance Ministry is considering an amnesty program for residents with illicit stash of gold, as part of an effort to crack down on tax evasion and cut its dependence on imports, according to people with knowledge of the matter.
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PM Modi Anti-Graft Drive Hit, 99% Of Banned Notes Returned
People have deposited nearly all the currency bills voided by Prime Minister Narendra Modi, denting the central bank's profit and dealing a blow to his drive to unearth unaccounted wealth.
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Income Tax Department Warns Black Money Hoarders Of Action
The Income Tax Department on Monday warned black money hoarders of punitive action if they do not deposit their unaccounted cash.
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IT Department To Launch Second Phase Of Bank Accounts Scrutiny Next Month
The IT department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs 5 lakh for now.
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Income Tax Department Issues 87 Notices Under Benami Act
The I-T department had earlier warned people against depositing their unaccounted old currency in someone else's bank account saying such an act would attract criminal charges under the Benami Property Transactions Act, 1988.
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Government Bars Co-Op Banks From Accepting Deposits Under PMGKY
After the notes ban, the Centre came up with an amnesty scheme for holders of unaccounted cash by asking them to pay 50 per cent tax and parking one-fourth of it in a no-interest bearing four-year deposit.
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As Much As 97% Of Banned Notes Are Back In Banks: Report
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.
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Deposits Before April 1 Can Be Disclosed Under Pradhan Mantri Garib Kalyan Yojana
The Pradhan Mantri Garib Kalyan Yojana (PMGKY) provides for 50 per cent tax and surcharge on declarations of unaccounted cash deposited in banks.
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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.
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Depositing Black Money In Banks Will Not Make It White: Arun Jaitley
Issuing a veiled warning, Finance Minister Arun Jaitley said one cannot convert black money into white by merely depositing unaccounted cash in bank accounts as taxes are required to be paid on them.
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Demonetisation: 50% Income Tax On Unaccounted Deposits Or 85% If Caught
Providing a window to black money holders, the government proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don't disclose but are caught.
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Opening A Bank Account In Rural India: A Reality Check
A fortnight after announcing its bold move to ban old 500 and 1000-rupee notes as part of its battle against black or unaccounted money, the government on Friday said that the barred currency can no longer be exchanged and must be deposited in banks.
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Unaccounted Deposits In Old Notes To Attract 50 Per Cent Tax, 4 Years Lock-In
The cabinet has cleared new amendments to existing laws to charge a minimum 50 per cent tax on unexplained bank deposits made using banned 500 and 1,000 rupee notes up to December 30. It will be introduced in parliament next week.
-
"Unaccounted" Deposits Worth Rs 55 Crore Seized After Tax Raids On Ex-Axis Mutual Fund Manager
The Income-tax department has seized "unaccounted" deposits worth more than Rs 55 crore and unearthed "evidences" of large-scale hidden investments after it recently raided Viresh Josh, a former chief trader and fund manager of Axis Mutual Fund.
-
Rs 55 Crore Deposits Seized After Raids On Ex-Fund Manager, Share Brokers
The Income-tax department has seized "unaccounted" deposits worth more than Rs 55 crore and unearthed "evidences" of large-scale hidden investments after it recently raided a former chief trader some share brokers and others.
-
Government Considering Amnesty For Those With Unaccounted Gold: Report
The Finance Ministry is considering an amnesty program for residents with illicit stash of gold, as part of an effort to crack down on tax evasion and cut its dependence on imports, according to people with knowledge of the matter.
-
PM Modi Anti-Graft Drive Hit, 99% Of Banned Notes Returned
People have deposited nearly all the currency bills voided by Prime Minister Narendra Modi, denting the central bank's profit and dealing a blow to his drive to unearth unaccounted wealth.
-
Income Tax Department Warns Black Money Hoarders Of Action
The Income Tax Department on Monday warned black money hoarders of punitive action if they do not deposit their unaccounted cash.
-
IT Department To Launch Second Phase Of Bank Accounts Scrutiny Next Month
The IT department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs 5 lakh for now.
-
Income Tax Department Issues 87 Notices Under Benami Act
The I-T department had earlier warned people against depositing their unaccounted old currency in someone else's bank account saying such an act would attract criminal charges under the Benami Property Transactions Act, 1988.
-
Government Bars Co-Op Banks From Accepting Deposits Under PMGKY
After the notes ban, the Centre came up with an amnesty scheme for holders of unaccounted cash by asking them to pay 50 per cent tax and parking one-fourth of it in a no-interest bearing four-year deposit.
-
As Much As 97% Of Banned Notes Are Back In Banks: Report
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.
-
Deposits Before April 1 Can Be Disclosed Under Pradhan Mantri Garib Kalyan Yojana
The Pradhan Mantri Garib Kalyan Yojana (PMGKY) provides for 50 per cent tax and surcharge on declarations of unaccounted cash deposited in banks.
-
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.
-
Depositing Black Money In Banks Will Not Make It White: Arun Jaitley
Issuing a veiled warning, Finance Minister Arun Jaitley said one cannot convert black money into white by merely depositing unaccounted cash in bank accounts as taxes are required to be paid on them.
-
Demonetisation: 50% Income Tax On Unaccounted Deposits Or 85% If Caught
Providing a window to black money holders, the government proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don't disclose but are caught.
-
Opening A Bank Account In Rural India: A Reality Check
A fortnight after announcing its bold move to ban old 500 and 1000-rupee notes as part of its battle against black or unaccounted money, the government on Friday said that the barred currency can no longer be exchanged and must be deposited in banks.
-
Unaccounted Deposits In Old Notes To Attract 50 Per Cent Tax, 4 Years Lock-In
The cabinet has cleared new amendments to existing laws to charge a minimum 50 per cent tax on unexplained bank deposits made using banned 500 and 1,000 rupee notes up to December 30. It will be introduced in parliament next week.
