Page-3 of black money

Ministry of Corporate Affairs, CBDT ink MoU for Automatic and Regular Exchange of Information

September 15, 2017

The Ministry of Corporate Affairs (MCA) and Central Board of Direct Taxes (CBDT) have signed Memorandum of Understanding (MoU) for automatic and regular exchange of tax information. The purpose of the MoU is to curb the menace of shell companies, ..

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Government to launch Project Insight

September 11, 2017

The Union Finance Ministry is planning to launch ‘Project Insight’ from October 2017 to monitor high value transactions and detect tax evaders using technology with a view to curbing circulation of black money. To implement the project government has signed ..

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India, Switzerland ink two MoUs in the field of Railways

August 31, 2017

India and Switzerland have signed two Memorandum of Understandings (MoUs) for exchanging technical cooperation in the field of Railways. They were signed after delegation level talks between Prime Minister Narendra Modi and visiting President of Swiss Confederation Doris Leuthard in ..

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India placed 88th in money hoarded in Swiss banks

July 4, 2017

As per analysis of the latest figures compiled by the Zurich based SNB (Swiss National Bank) as on 2016-end, India has slipped to the 88th place in terms of money parked by its citizens with Swiss banks. The analysis shows ..

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Black Money: Automatic Information Sharing with Switzerland from 2019

June 17, 2017

Switzerland has ratified automatic exchange of financial account information with India and 40 other countries. This will facilitate Switzerland to share information about suspected black money with India and other 40 nations. According to the Swiss Federal Council, the implementation ..

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$770 billion Worth of Black Money entered into India during 2005-2014: GFI

May 3, 2017

US-based think tank Global Financial Integrity (GFI) in its report titled ‘Illicit Financial Flows to and from Developing Countries: 2005-2014’, has estimated that $770 billion worth of black money entered India during 2005-2014. During the same time period, the think ..

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