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Govt tightens rules for int’l payments above Rs 50,000
The amendment also mandates reporting entities, that are part of a group, to implement measures against money laundering and terror financing
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Face Rs 10 lakh fine for hiding this!
The department says that hiding some information while filing income tax return may result in a fine of up to Rs 10 lakh
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The case for cash
Though use of cash has increased since demonetisation, cleanliness in transaction and a rise in revenues for the govt have been two clear benefits.
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India to get third cache of Swiss Bank account details
In September 2019, India was part of 75 such countries globally, which received its first cache of information under the AEOI.
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Planning a vacation abroad? Keep these I-T rules in mind
The detailed monetary activities described by the various organisations/ institutions are reflected in the taxpayer’s form 26AS
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Indians' funds in Swiss banks; govt seeks details
Swiss Authorities have been requested to provide the relevant facts along with their view on possible reasons for increase/decrease, the ministry said
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This Swiss bank record shows India in poor light!
Data from the Swiss National Bank stated that Indians had invested a record high of nearly 6.5 billion Swiss francs in 2006
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RBI asks banks not to destroy CCTV recordings of demonetisation period
The present order is a continuation of an earlier advisory issued to the lenders in December 2016 to preserve the CCTV footage of operations at bank b
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Printing of Rs 2,000 currency notes halted: Government must continue its fight against black money, cash hoarders and counterfeiters
Post-demonetisation in 2016, critics had pointed out that the move to have Rs 2,000 notes defeated the very purpose of fighting black money by withdra
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Black Money: I-T department issues notices in 475 cases for undisclosed assets of Rs 14,300 crore
Minister of State for Finance Anurag Thakur said the government has taken various initiatives in the recent years to bring back black money from abroa
