Tag: black money
Several Crores Rupees!Systemic measures by Government Under Black Money Act Yields Results
In the recent years, the Government has taken a number of measures to bring back the black money stashed abroad ‘The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015’. This was stated in a written reply by Union Minister of… Read More
Finance Ministry Refutes News Media Reports Of Alleged Black Money Held By Indians In Switzerland
Certain reports have appeared in the media on 18.06.2021 stating that funds of Indians in Swiss Banks have risen to over Rs 20,700 crore (CHF 2.55 billion) at the end of 2020 from Rs 6,625 crore (CHF 899 million) at the end of 2019, reversing a… Read More
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Jet Airway’s Air Hostess Caught Smuggling Rs. 302 Lacs In Shoes, Makeup Kits…
An experienced air hostess of Jet Airways was caught with over Rs. 30o lakhs in foreign currency hidden in her luggage below shoes and cosmetics. These were $100 US currency notes which authorities believe were being smuggled out of the country. Somehow customs and revenue officials in Delhi airport got… Read More
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“Demo” Has Been A Good Thing – Let Media, People Not Fool You
Demonetization or "Demo", the overnight ban of the old Rs. 500 and Rs. 1,000 notes provided a massive shock to those with black money, corruption and terror funding. Yes it does create difficulties, long lines, jobs lost, business lost, slower economy, and much else - these are all short-term and visible,… Read More
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Cash Payment Limit Reduced To Rs. 2 Lakh To Check Black Money…
With the goal to check money laundering, black money and terrorism funding, government will be reducing the cash transaction limits further from the current Rs. 3 lakhs to Rs. 2 lakhs. Beyond these limits, a PAN card would be required. And if one is in violation, both the individuals and… Read More
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Voters Give Demonetization A Big Thumps Up – BJP Win Two Key States
Political commentators thoughts demonetization would backfire on the ruling party. Instead during the recent local and panchayat level elections in Maharashtra and Gujarat, BJP made a clean sweep in both states in a big way. There were always many issues, drought, regional and community agitations such as Marathwada and Patildars.… Read More
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Unexpected But Real Benefits Of The Demonetization…
No doubt, there is short-term pain and inconvenience. But there are several unexpected and/or unreported benefits to the Rs. 500 and Rs. 1,000 demonetization scheme. Some of these are: a) Maoists or Naxalites have reported been hit hard, b) Stone peling in Kashmir is suddenly stopped, c) there have been… Read More
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Government’s Currency & Financial Plan All Makes Sense
The Indian government has sown the seeds to reduce corruption and pursue financial reforms in a big way - the latest move to remove Rs. 500 and Rs. 1000 notes is the latest step in that plan. One has to only connect the dots of the government's plans and actions… Read More
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Govt’s Shock Announcement To Scrap Rs. 1,000 & Rs. 500 Notes
In a shocking anti-corruption announcement, India has scrapped the Rs. 1,000 and Rs. 500 notes. While short-term this will cause inconvenience, this will sweep up lots idle and hidden black money. As PM Modi said, corruption and money laundering are like the "diseases" and "obstacles" to the country's economic success.… Read More
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7 Lakh Tax Notices Sent To Those With Sizable Transactions
With push to track down black money and tax defaulters, the Income Tax department has sent out more than 7 lakh tax notices to those who did not provide their PAN numbers, and more may be sent out. With assistance from banks, the notices were sent out to those who from… Read More
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GOVT: THOSE WITH BLACK MONEY – YOUR NAME CAN BE MADE PUBLIC …
Holding out no assurance of an absolute confidentiality to those disclosing foreign assets on their own, the government today said details of information provided during the one-time compliance window can be revealed in the public interest. The new Black money law provides for this option. Also to note is that… Read More