Though use of cash has increased since demonetisation, cleanliness in transaction and a rise in revenues for the govt have been two clear benefits.
In September 2019, India was part of 75 such countries globally, which received its first cache of information under the AEOI.
The detailed monetary activities described by the various organisations/ institutions are reflected in the taxpayer’s form 26AS
Swiss Authorities have been requested to provide the relevant facts along with their view on possible reasons for increase/decrease, the ministry said
Data from the Swiss National Bank stated that Indians had invested a record high of nearly 6.5 billion Swiss francs in 2006
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 branches and currency chests
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 withdrawing Rs 500 and Rs 1,000 notes
Minister of State for Finance Anurag Thakur said the government has taken various initiatives in the recent years to bring back black money from abroad