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Income Tax : This type of black money primarily originates from illegal cash transactions. These funds often end up in foreign banks, making it...
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Income Tax : New amendments to the Black Money Act from October 2024 raise the exemption threshold for penalties on foreign assets to ₹20 lak...
Income Tax : From October 1, 2024, the Black Money Act, 2015 will be included in tax clearance certificate requirements for Indian residents le...
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Income Tax : In the case of Vikash Marda Vs Union Of India, the Calcutta High Court instructs CIT(A) to expedite pending appeals concerning ass...
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Income Tax : CBDT notifies Special Courts in Odisha vide Notification No. 127/2022-Income Tax | Dated: 26th December, 2022 under Black Money ...
Income Tax : Designation of the Courts in the Himachal Pradesh Special Courts for the purposes of section 280A of the Income tax Act, 1961 and ...
Income Tax : Notification No. 68/2022- Income Tax- Designation of Courts in Uttarakhand as Special Court for the purposes of section 280A of t...
Income Tax : Vide Notification No. 44/2022-Income Tax, Dated: 22.04.2022 CBDT designates Court in the State of Madhya Pradesh as the Special C...
It was alleged that during the period between 15.11.2016 and 25.11.2016, the Senior Special Assistant and Deputy Manager (Operations) of State Bank of India entered into a criminal conspiracy while the restrictions on distribution of currency notes due to demonetization were in force.
The Central Bureau of Investigation has arrested a Director, Postal Services and Senior Superintendent of Posts, Ahmedabad (Gujarat) in an on-going investigation of a case.
Demonetisation broke the backs of those who threatened national security and sent a clear message that it was no longer business as usual. Large deposits are under scrutiny to verify their authenticity.
Currently, banks are issuing an acknowledgement for having received the amounts under PMGKDS. The details of the deposit are then entered in the Bank’s e-kuber application which generates a Subscription Receipt.
Representations received seeking clarification as to whether deposits made in bank account or cash in hand which are eligible for being declared under the PMGKY Scheme should exist on the date of filing of declaration under the Scheme.
Demonetisation announced on November 8, 2016 was aimed at addressing corruption, black money, counterfeit currency and terror financing. Although demonetisation holds huge potential benefits in the medium to long-term, given the scale of operation, it was expected to cause transient disruption in economic activity.
Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period
Submission of old currency notes of Rs. 500 and Rs. 1000; The grace period for Indian citizen residing in India is March 31, 2017 and for Indian citizen resident outside is June 30, 2017
CBI REGISTERS A CASE AGAINST DGM & AGM, BOTH OF UNION BANK OF INDIA AND THREE PROPRIETOR/DIRECTOR OF PRIVATE FIRMS & OTHERS FOR ALLEGED VIOLATION OF RBI GUIDELINES
The response(s) filed by the tax payer(s) on Cash Transaction 2016 module on e–filing portal is shared with the officer/Assessing officer(s) through AIMS This directorate has issued the EFS Instruction No. 61 dated 21.02.2017 related to its functionalities.
