Corporate Law : Explore the Prevention of Money Laundering Act (PMLA), its implications, recent amendments, and the role of financial professional...
Corporate Law : Dive into the nexus between Electoral Bonds and money laundering in India, exploring legislative challenges, compliance requiremen...
Income Tax : This type of black money primarily originates from illegal cash transactions. These funds often end up in foreign banks, making it...
Income Tax : Explore implications of Black Money Act on foreign assets and income for residents. Understand disclosure requirements, penalties,...
Income Tax : Explore the rules, tax implications, and measures against black money in real estate transactions. Understand the impact on the in...
Income Tax : Explore Income Tax Department's advisory on reducing cash transactions. Learn about societal, individual, and national factors dri...
Goods and Services Tax : GST Council recommended that State can decide on imposition of requirement of e-Way bill for intra-state movement of gold & preci...
Income Tax : Undisclosed credits of Rs. 20,353 crore detected with respect to 930 India linked entities in Panama and Paradise Paper Leaks As o...
Income Tax : As on 31.05.2021, assessment orders under section 10(3)/10(4) of the Black Money Act, 2015 have been passed in 166 cases, wherein ...
Income Tax : Media reports allude to the fact that the figures reported are official figures reported by banks to Swiss National Bank (SNB) and...
Income Tax : Read Madras High Court's judgment granting 45 days to obtain bank statements for tax case under Black Money & Income Tax Act....
Income Tax : Delhi High Court allows NRI businessman to travel, quashing the LOC opened for investigation under the Black Money Act, setting co...
Income Tax : Explore Delhi High Court's decision allowing the revenue to challenge Black Money Act proceedings in PCIT vs. Ashok Kumar Singh. D...
Corporate Law : Delhi High Court held that PayPal is liable to be viewed as payment system operator and obliged to comply with reporting entity ob...
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...
Corporate Law : Explore 2023 updates to Prevention of Money-laundering (Maintenance of Records) Rules. Learn how these changes impact trust, contr...
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...
The strategy adopted by the Government to tackle the menace of illicit funds is five-fold. This consists of: i) Joining Global crusade against ‘black money’; ii) Creating an appropriate legislative framework; iii) Setting up institutions for dealing
India may have to wait till at least next year for information from Switzerland on possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011. The treaty needs to be ratified by various authori
On the back foot over black money, the UPA has turned to its chief trouble-shooter Pranab Mukherjee to explain the government’s plan for retrieving billions of dollars stashed in Swiss banks and other European tax havens. “The government has noth
Liechtenstein has declined help in India’s quest for suspected black money trail to the small but rich European country bordering Switzerland, citing absence of a bilateral treaty for such information exchange. The Indian government is facing intens
The Left parties today asked the government to confiscate the black money allegedly stashed in Swiss Bank accounts and make the names of the account-holders public. Government should not only obtain full details of these accounts, but also make the
Under pressure to bring back the black money stashed abroad, India has sought Liechtenstein government’s help in taking action against those alleged to have kept illicit wealth in a bank of the European country. A spokesperson for the Liechtenstein government confirmed to PTI that a request has been made by its Indian counterpart for administrative assistance in relation to some Indian clients of LGT Bank, based in the European country located near Switzerland.
A Swiss Parliamentary Committee has given the go-ahead to the revised tax treaty between India and Switzerland that would eventually allow Indian government access to secret Swiss bank accounts of Indian tax evaders. The amendments to the treaty will now be placed before the Swiss Parliament for final approval.
Prime Minister Manmohan Singh said there is ‘no instant solution’ to bring back black money stashed in foreign banks and that information with government cannot be made public due to treaty obligations. ‘There is no instant solution to bring back what is called black money. We have got some information and that has been provided to us for use in the collection of due taxes’, he said.
Prime Minister Manmohan Singh on Wednesday said there is “no instant solution” to bring back black money stashed in foreign banks and that information with government cannot be made public due to treaty obligations. “There is no instant solution to
Germany gave information about 26 accounts held by Indians in LGT Bank, but tax evasion proceedings could be initiated against only 18 resident citizens, the Centre informed the SC on Wednesday. The Centre handed a sealed report containing the name
