Black Money Crackdown

SC-appointed SIT on black money to submit interim report within 15 days

The Supreme Court-appointed Special Investigation Team (SIT) on black money will submit its ninth interim report to the apex court within 15 days, the panel's vice-chairman Justice (Retired) Arijit Pasayat said here on Monday. After coming to power in May 2014, the Narendra Modi government, in its first cabinet meeting, approved the appointment of the SIT as directed by the Supreme Court. We have already submitted eight reports to the Supreme Court while the ninth report will be submitted within 15 days, Justice Pasayat told reporters here. To a question, he said it would not be the last report as work is going on. The SIT vice-chairman came here on Monday on a three-day visit to the state. He is likely to hold a meeting of officers from IT, ED, Customs and Excise and Central Board of Indirect Tax departments in Cuttack on August 28. Director of ED Rahul Navin is also scheduled to attend the meeting.

Electoral bonds scheme aims to eradicate use of black money: Centre to SC

The Centre told the Supreme Court on Wednesday that almost every country, including India, was grappling with the problem of use of black money in elections and the electoral bonds scheme was a "conscious attempt" to eradicate the menace of "unclean money" in the poll process. Arguing before a five-judge constitution bench headed by Chief Justice D Y Chandrachud, Solicitor General Tushar Mehta, representing the Centre, said the apex court may not take this particular scheme as a standalone attempt in the direction of dealing with the menace of black money. Mehta highlighted steps taken by the government to deal with black money including digitised payments and action taken against 2.38 lakh "shell companies" between 2018 and 2021. "The use of black money in elections and politics in general and elections in particular...every country is grappling with this problem. Country-specific issues are being dealt with by every country depending upon the circumstances existing. India is also

Poised for higher growth: Digital India revolution is on a sound footing

Boldly embracing technology-based interventions will empower people and enable New India to attain the desired level of sustainable and inclusive growth

SIT on black money for capping cash at home to check unaccounted wealth

The proposed measures aim to bring stricter norms to curb holding of illegal cash and mismanagement of unaccounted cash seized by the probe agencies during investigations

Note ban: ED attaches Rs 9,000 cr in black money; pulls up 1k shell firms

Enforcement Directorate is empowered to conduct investigations to trace assets derived out of the proceeds of crime

I-T cracks down on black money stashed abroad

Indian assets of tax evaders can be attached & confiscated against undisclosed foreign income or assets

I-T steps up drive against cash abroad; charges fixed against 5 businessmen

Dept starts prosecution against 5 people with Rs 5k cr of unaccounted wealth in British Virgin Islands

Black money chase: How Modi is cracking the whip on India's shell firms

Last month, the authorities ordered nearly 200,000 shell companies to be shut down

Revenue department probes source of data on black money: Jaitley

The revenue figures and the potential revenue gain figures were based on ongoing probes

Black money: Swiss say Indian laws 'adequate' for auto-sharing banking info

Notification follows hectic parleys between India and Switzerland for the introduction of the AEOI

I-T dept unearths Rs 1,000-cr scam at credit societies

Sleuths search 24 societies where large sums were deposited during note ban

Black money: Tax sleuths probing 30,000 returns revised post note ban

I-T returns filed after demonetisation were scrutinised against earlier tax compliance