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Latest Articles in black money
Demonetisation To Have Transformative Effect On Economy, Says RBI Governor Urjit Patel
RBI Governor Urjit Patel on Thursday said the demonetisation exercise will have "far reaching changes" towards a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship"
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Minimum Rs 10,000 Fine For Holding Old Notes, No Jail Term
The government has made holding of more than 10 junked Rs 500/1000 notes a penal offence punishable with a minimum Rs 10,000 fine, but the harsher four-year jail term has been dropped
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FM Arun Jaitley Rubbishes Critics, Says Note Ban Effect Not Adverse
While the ability of banks to support economic activity has increased, direct and indirect tax collections have gone up significantly, the finance minister says
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RBI Refuses To Give Reasons Behind Demonetisation
Fifty days after the government announced that these notes would cease to be legal tender, Reserve Bank of India feels that the reasons behind the sudden announcement cannot be made public
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Borrowers Now Have Additional 90 Days To Repay Loans
In further relief to people hit by demonetisation, the Reserve Bank has gave borrowers another 30 days over and above 60 days for repayment of housing, car, farm and other loans worth up to Rs 1 crore
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Proof Of Tax Paid, 4-year Money Lock-in Must To Avail Of Tax Evasion Amnesty Scheme
Blackmoney holders keen to avail of the new tax evasion amnesty scheme will have to first deposit 49.9 per cent tax and park a quarter of their unaccounted cash in zero-interest deposit before being able to apply for it
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PM Modi Practising Politics Of Fear: Rahul Gandhi On Demonetisation
Congress Vice President Rahul Gandhi on Wednesday continued his attacked on Prime Minister Narendra Modi over demonetisation, accusing him of practising politics of "fear and anger" and exhorted party men to defeat his ideology
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24 Lakh Declared Income Above Rs 10 Lakh But 25 Lakh Cars Bought Annually
India has just 24.4 lakh tax payers who declared an annual income of over Rs 10 lakh yet 25 lakh new cars, including 35,000 luxury cars, are being bought every year for last five years, a top official said
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Note Ban Destroyed Terror Funding, Human-drug Trafficking, Says PM Modi
Hitting back at Rahul Gandhi's charge of helping big corporates and the rich, Prime Minister Narendra Modi on Tuesday said his government is focused on working for the poor and asserted that demonetisation has destroyed in one stroke black money, terror funding as well as human and drug trafficking
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Restrictions On Cash Withdrawals May Continue Beyond December 30
Restrictions on withdrawal of cash from banks and ATMs are likely to continue beyond December 30 as currency printing presses and RBI have not been able to keep pace with the demand of new currency notes
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Law Against 'Benami' Properties To Be Operationalised Soon, Asserts PM Modi
Vowing to carry forward the war against corruption and black money post-demonetisation, Prime Minister Narendra Modi on Sunday said the government will soon operationalise a strong law to effectively deal with 'benami' properties and this was just the beginning
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PM Narendra Modi Promises More Reforms, Says Note Ban Short-term Pain
Prime Minister Narendra Modi on Saturday hinted at unleashing more radical reforms, saying his government will not shy away from taking difficult decisions that are in national interest and admitted the note ban caused "short-term pain"
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Supreme Court To Hear On January 11 Plea Against Tax Exemption To Political Parties
The Supreme Court on Friday said it would next month hear a plea seeking quashing of a provision of the Income Tax Act on tax exemption to political parties on receiving voluntary contributions
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Report Cash Receipt Over Rs 2 Lakh In Single Transaction, Says CBDT
The Income Tax department on Friday clarified that businesses and traders receiving cash exceeding Rs 2 lakh in any single transaction for sale of goods and services are required to report it to the authorities
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Demonetisation Not Last Action Against Corruption, Says Aravind Panagariya
Terming Prime Minister Narendra Modi's demonetisation scheme as a "frontal attack" on black money, NITI Ayog vice-chairman Aravind Panagariya on Thursday said more such actions are in store to curb corruption
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