Demonetisation will lead to a wider tax base and lower interest rates, thus paving the way for "sustainable faster economic growth", the Finance Ministry has said.
The Enforcement Directorate (ED) has arrested city-based financer Kishore Bhajiawala on money laundering charges and for allegedly using 1,000 fake IDs to illegally convert Rs 1 crore in old notes into new post demonetisation.
the government has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.
The RBI has admitted that it has no details of any irregularities or scams in the exchange of the demonetised currency notes of Rs 500 and Rs 1,000 by the cooperative banks, a reply under RTI revealed on Monday.
The government’s analysis of bank deposits post-demonetisation so far show an estimated Rs 3-4 lakh crore of tax-evaded income deposited in old notes during the 50-day window provided to get rid of junked Rs 500/1000 notes.
Arun Jaitley today hit out at Congress vice-president Rahul Gandhi saying while Prime Minister Narendra Modi was thinking of the next generation Rahul Gandhi was only looking at how to disrupt the next Session of Parliament.
Unearthing one of the biggest cases of black funds in Delhi since note ban came in to effect, the Income Tax department has detected a Rs 300 crore shady bullion sale and over Rs six
In a bid to tighten the noose around black money hoarders, the government is likely to ask the Income Tax department to scan bank transactions that are older than six years.
The government appears to be in no mood to tighten the noose around the black money hoarders across the nation following its big ticket move to demonetise high-value currency notes.
banks are not taking any chances in reporting “suspicious” transactions with some of the private banks reporting an increase of up to 10 times.
Australia seems to be inspired with the move as it is also reportedly mulling over the idea of demonetising its highest denomination note.
In a massive crackdown on black money hoarders across the country, the Income Tax Department has detected over Rs 4,663 crore of undisclosed income post the demonetisation of two high-value currencies by the government.
Congress vice-president Rahul Gandhi today sought to know from Prime Minister Narendra Modi the amount of black money recovered after the November 8 decision of demonetisation.
the Income Tax Department, based on estimates that unaccounted money worth Rs 4 lakh crore may have flown into bank accounts post demonetisation, is gearing up to serve notices to those who cannot explain the source of the money. the Income Tax Dep
Prime Minister Narendra Modi has strongly defended his move to demonetise higher currency denominations, calling it a "difficult" but apolitical decision
The government has said that deposits totalling Rs 7 lakh crore were made by some 60 lakh individuals and companies following the announcement to demonetize high-valu currency notes on November 8. The government has also
A Hyderabad businessman was arrested on Wednesday for allegedly cheating and generating 'fake and fictitious' advance payment receipts to deposit Rs. 98 crore in banks following the ban of 500 and 1000-rupee notes last month.
In yet another shocking revelation related to black money hoarding post demonetisation, it has been found that launderers and arms suppliers are pumping illegal wealth into tax-exempt bank accounts of local tribes and even as investments in guns in N
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
Mayawati on Tuesday asserted that the money detected by the Enforcement Directorate (ED) in her party’s account was entirely accounted for and was deposited following all due procedures.
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