Page-5 of black money Current Affairs, GK & News

Union Cabinet approves Agreement between India and Samoa for exchange of information with respect to Taxes

The Union Cabinet has given its approval for signing and ratification of Agreement between India and Samoa for the exchange of information with respect to Taxes. It will help to stimulate the flow of exchange of information between India and Samoa for tax purposes which will help curb tax avoidance and tax evasion. Key features ..

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Union Cabinet approves revised India-Cyprus Double Tax Avoidance Agreement

The Union Cabinet approved a revised Double Tax Avoidance Agreement (DTAA) and the Prevention of Fiscal Evasion with respect to Taxes on Income between India and Cyprus. The revised DTAA provides for source-based taxation of capital gains on transfer of shares instead of one based on residence. Thus, it is considered as a major step ..

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Parliament passes Benami Transactions (Prohibition) Amendment Bill, 2016

The Parliament has passed the Benami Transactions (Prohibition) Amendment Bill after it was unanimously approved by Rajya Sabha. The comprehensive amendment bill seeks to amend and strengthen Benami Transaction (Prohibition) Act, 1988 in terms of legal and administrative procedure to curb domestic black money. Key Features of Bill The Bill seeks to (i) Amend the ..

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Lok Sabha passes Benami Transactions (Prohibition) Amendment Bill, 2015

The Lok Sabha has passed comprehensive Benami Transactions (Prohibition) Amendment Bill, 2015 to curb domestic black money. The comprehensive amendment bill seeks to amend and strengthen Benami Transaction (Prohibition) Act, 1988 in terms of legal and administrative procedure. Key Features of Bill The Bill seeks to (i) Amend the definition of benami transactions to widen ..

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Union Cabinet approves pact for avoidance of double taxation with Belgium

The Union Cabinet has given its approval to the signing of a Protocol amending the Agreement between India and Belgium for avoidance of double taxation. Decision in this regard was taken in the Union Cabinet meeting under the chairmanship of Prime Minister Narendra Modi. Key Facts The amendment in the Protocol will broaden the scope ..

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SEBI issues stricter KYC, disclosure norms for P-Notes

The markets regulator SEBI (Securities and Exchange Board of India) has put in place a stricter KYC (Know Your Customer) norms and disclosure regime for Participatory Notes (P-Notes). P-Notes are offshore/overseas derivative instruments (ODIs) issued by registered foreign institutional investors (FII) to overseas investors. They provide easier and cost-effective route to foreign investors to invest ..

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