black-money

Tax Evaders To Face Prosecution The Income Tax Department is now determined to not let go tax evaders go easily. The rules have all changed and the IT Department is going to crack down on any tax offenders. The new rules set by the…

As per reports coming in, Indian Govt. is all set to unleash some ‘smart moves’ in order to tackle black money, and to win cyber wars waged against the nation.

Income Tax Dept. has officially removed all GST charges from duty-free shops in airports, all across the country. However, this no GST ruling is only applicable for international tourists, who are entering or leaving India.

It has been quite a while since Rs 200 currency note has been officially launched by the RBI. But strangely, currencies of Rs 200 are still not available at 90% of the ATMs. Those who are withdrawing money from the bank branch may get few…

Defining a smaller limit for cash transactions has a two-fold purpose. It will help keep money laundering in check and push more cashless transactions.

This new attack on shell companies and their directors is being undertaken under Section 164(2)(a), which is even more lethal than Section 248 (5)

During 2015-16, there were only 55.9 million or 3.7 crore Indians who paid income tax in India. But during 2016-17 fiscal year, total tax payers have increased to 65 million or 6.5 crore. This means 9.1 million or 91 lakh new tax payers…

If you assumed that demonetization was Govt's biggest move against black money, then you were wrong. In one of the fiercest initiatives ever taken to curb the generation of black money in India, Government of India has proposed to make…

Section 132 of Income Tax Act is concerned with raids conducted by Income Tax officials on those businesses and individuals who are being suspected of hiding unaccounted money, often called black money. As per reports coming in,…

In one of the major crackdown on black money hoarders, Govt. of India has directed all banks to furnish PAN card details of all bank holders by February 28th, 2017. Never before in the history of banking, such massive exercise has…