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Tag Archives: black money

Quoting PAN – A step towards curbing black money

By making PAN compulsory for all financial transaction beyond a thresh hold limit government showed its firmness on curbing black money. Though quoting PAN for financial transaction above Rs.1 lakh is stipulated in the last budget but withdrawn at several requests received from political leaders and industrialists. But now Finance ...

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India, Seychelles sign information exchange pact

News: In its fight against black money, India signed an information exchange agreement with Seychelles on tax matters, along with pacts to deepen ties in security and defence among other areas. India and Seychelles also signed four other agreements including one on air connectivity and the other for supply of ...

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Govt approves pact with Seychelles to curb black money

News: To check black money generation, the government approved signing and ratification of the agreement between India and Seychelles for exchange of information with respect to taxes which will help curb tax evasion and avoidance. The agreement will enable the competent authorities of India and Seychelles to provide assistance through ...

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Foreign assets of Rs 6,500 crore disclosed under compliance window: PM

News: A step towards the fight for black money, Rs 6,500 crore of undisclosed foreign assets have been declared under the complains window of the new law and the drive would continue despite its ‘side effects’. In his address to the nation on the 69th Independence Day, he said several important steps including agreements ...

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PM Modi’s Independence Day Speech – 30 Key Points

Speech Highlights Issue of ‘One-Rank, One-Pension’ came up in front of every government. Some even made small promises. Issue could not be solved. I assure the servicemen and I am saying it under the Tricolour from the Red Fort – we have accepted OROP. We are looking at systems for ...

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SIT proposal: Compound offences for black money holders

News: The Special Investigation Team (SIT) probing black money has approved compounding of offences under the Income-Tax Act for Indians holding accounts in foreign banks, many of whom are facing prosecution for tax evasion and concealment of income. This facility would be extended to foreign account holders who have fully ...

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