Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act: GK, General Studies and Current Affairs

India Switzerland sign agreement to share tax-related information

In a move aimed at combating black money stashed abroad, India has signed an agreement with Switzerland that would allow automatic sharing of tax-related information from 1 January, 2018. The agreement was signed by CBDT ..

Income Tax Amendment Bill passed in Lok Sabha

Lok Sabha has passed the Taxation Laws (Second Amendment) Bill, 2016 in the Lok Sabha. The Bill was introduced as some of the existing provisions of the Income Tax Act, 1961 can possibly be misused ..

Panel on Black money presents report, silent on estimates, suggest steps

The government came out with a 66-page report elaborating ways to forbid generation of illicit funds. The Central Board of Direct Taxes (CBDT) panel on black money submitted its report suggesting ways to forbid the ..