Page-5 of black money
Black money worth Rs. 65,250 crore declared under Income Disclosure Scheme, 2016
The Central Board of Direct Taxes (CBDT) has received total disclosure of Rs. 65,250 crore black money in the form of cash and other assets under the Income Disclosure Scheme, 2016. The scheme launched in June 2016 has provided a ..
Month: Current Affairs - October, 2016
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 ..
Month: Current Affairs - September, 2016
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 ..
Month: Current Affairs - August, 2016
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 ..
Month: Current Affairs - August, 2016
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 ..
Month: Current Affairs - July, 2016
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 ..
Month: Current Affairs - June, 2016