Page-8 of black money

RBI extends deadline for exchanging pre-2005 currency notes till December 2015

The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till December 31, 2015 for third time. Earlier in December 2014, RBI had set the last date for public to exchange these notes as June ..

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India joins the Multilateral Competent Authority Agreement on Automatic Exchange of Information

India has joined the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial Account Information (AEOI). The new global standards has wide in scope and oblige the treaty partners to exchange wide range of financial information from institutions from ..

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Union Cabinet gives nod to Benami Transactions (Prohibition) (Amendment) Bill, 2015

Union Cabinet has given its approval to Benami Transactions (Prohibition) (Amendment) Bill, 2015. The Bill seeks to amend the Benami Transactions (Prohibition) Act, 1988 by adding additional provisions that provides for stringent measures against violators in order to curb and ..

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Lok Sabha passes Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015

Lok Sabha on 11 May 2015 passed Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 by a voice vote. The bill seeks to deal with the menace of black money and to replace the Income Tax (IT) Act, ..

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Union Cabinet gives nod to black money bill

Union Cabinet has cleared the black money bill to curb the menace of black money in the country. Decision in this regard was taken at the cabinet meeting in New Delhi. Union Government is seeking to introduce this bill the ..

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India third on black money list: GIF report

As per recently released Global Financial Integrity’s (GFI’s) 2014 Annual Global Update on Illicit Financial Flows report has placed India on third rank on black money list. Key facts of report This report estimated that nearly $94.76 billion (nearly Rs ..

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