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Latest Articles in black money
Pain Before Gain For Indian Banks After PM Narendra Modi's Cash Gamble
Prime Minister Narendra Modi's decision to remove Rs 500 and Rs 1,000 notes to funnel illicit cash into the formal financial sector has led to a severe cash shortage as the Reserve Bank of India has replaced barely a third of the higher-value notes that had been in circulation
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Election Commission Seeks Ban On Anonymous Contributions To Political Parties Above Rs 2,000
Seeking to stem the flow of black money in polls, the Election Commission has urged the government to amend laws to ban anonymous contributions of Rs 2,000 and above made to political parties
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Embarrassed, Upset Over Handful Of Employees, Axis Bank Chief Shikha Sharma Reassures Customers
"Embarrassed and upset" over the conduct of a handful of employees bringing the organisation into disrepute, Axis Bank MD and CEO Shikha Sharma on Sunday said the bank has hired KPMG to conduct a forensic audit for enhanced due diligence and building more safeguards
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Political Parties Can't Accept Junked Notes In Donations; Exemption Rules Unchanged: FM
In a bid to clear the air on tax exemption to political parties, Finance Minister Arun Jaitley has said they can not accept donations in old Rs 500 and Rs 1,000 banknotes since these bills were junked last month and clarified that there is no new exemption granted
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FM Arun Jaitley Hints Not All Scrapped Currency Will Be Remonetised
Finance Minister Arun Jaitley on Saturday hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap
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Demonetisation: Revolutionary Step Or Historic Blunder?
The Modi government should focus on getting a genuine economic recovery and job creation. More such ill thought through, badly implemented and moralistic policy prescriptions will get us back to the Hindu growth rate of 3-4 per cent of the 1970's and 1980's. Now that would be ironic for a BJP government
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Tax Exemptions To Political Parties Subject To Conditions: Govt
The government has said political parties depositing old 500 and 1,000 rupee notes in their accounts will be exempt from income tax provided the donations taken are below Rs 20,000 per individual and properly documented
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SC With Govt On Old Notes Issue; Refers Demonestisation Move To Constitution Bench
The Supreme Court on Friday refused to tinker with the move to do away with the use of now-defunct high-value currency notes for public utilities, in government hospitals and for rail tickets but referred to a Constitution Bench the issue of validity of the government's demonetisation decision
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Unaccounted Cash, Deposits Can Be Disclosed Under New Scheme With 50% Tax Before April 1
The government on Friday said any unaccounted cash or deposit in a bank account before April 1, 2017, can be disclosed under a new disclosure scheme that comes with 50 per cent tax and penalty
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No Estimation Of Black Money Either Before Or After November 8, Says FM Arun Jaitley
There is no official estimation of black money either before or after November 8 -- the day government announced scrapping of old Rs 500 and Rs 1,000 notes, Finance Minister Arun Jaitley said on Friday
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Opposition Against Anti-graft Effort, Party Above Nation For Congress, Says PM Modi
Prime Minister Narendera Modi on Friday ripped into the Opposition over Parliament logjam, saying unlike earlier when opposition parties stalled the House against scams, Congress-led parties are now doing so against government's steps to curb black money and corruption
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Withdrawal Limit To Go Up Once Banks Get 80% Of New Notes
The government will start easing restrictions on cash withdrawals once 80 per cent of the new currency introduced following the demonetisation is re- channelised through bank deposits, a top official said on Thursday
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Income Tax Department Warns Of Penal Action If Returns Drastically Changed
In a bid to prevent laundering of black money, the tax department on Wednesday warned of penal action against those filing "drastically" revised income tax returns by including bank deposits made post-demonetisation
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S&P Says India's Demonetisation Hurts Confidence In RBI
India's surprise move to abolish high-value rupee notes has undermined the central bank's reputation for competence and independence, even as it remains a credible institution, Standard & Poor's director Kyran Curry said
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Cleaning System From Black Money Very High On My Agenda, Says PM Modi
Against the backdrop of his demonetisation decision, Prime Minister Narendra Modi on Wednesday said cleaning the system from black money and corruption is "very high" on his agenda amid a push towards employment generation and self-employment opportunities
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