-PTI New Delhi: The Comptroller & Auditor General of India (CAG) may do a performance audit of the just-ended Black Money disclosure scheme, but will not get into the disclosures made. As much as Rs 65,250 crore of undeclared assets were declared through 64,275 declarations in the one-time four-month compliance window provided under the Income Disclosure Scheme (IDS), which closed on September 30. ”The information filed under the IDS is confidential and will...
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Tax dept unearths Rs 56,378 cr undisclosed income in searches
-PTI NEW DELHI: The Income Tax department has unearthed undisclosed income of Rs 56,378 crore during search operations conducted over two years time and seized cash of about Rs 2,000 crore. Giving details of the steps taken by the government since coming to power in May 2014, Finance Minister Arun Jaitley said with IT upgradation the CBDT has been able to recover Rs 16,000 crore from non-filers of tax returns. Also the government...
More »Maharashtra sniffs Rs 800 crore fodder scam during Congress-NCP regime -Bhavika Jain
-The Times of India MUMBAI: Cattle fodder camps that were opened in the state during the drought years are under the scanner for large-scale irregularities and the government plans to investigate the organizations that managed these camps. Senior state government officials said the BJP-Sena government wants to audit the 1,288 cattle camps that were opened in different parts of the state between 2012 and 2014 by the Congress-NCP government. The then government...
More »To clamp down on Black Money, govt set to ban cash transactions over Rs 3 lakh -Sidhartha & Surojit Gupta
-The Times of India NEW DELHI: The government is set to ban cash transactions over Rs 3 lakh as it seeks to clamp down on Black Money in the economy following recommendations from the Supreme Court-appointed Special Investigation Team. The government, however, is yet to decide on the SIT's other proposal to bar cash holdings over Rs 15 lakh due to opposition from trade and industry, sources told TOI. "There are concerns...
More »Retail inflation might not fall much in kharif season -Sanjeeb Mukherjee & Indivjal Dhasmana
-Business Standard Recent trends indicate any such moderation would not be across the board or without riders: Experts New Delhi: Contrary to some perceptions, consumer price index (CPI)-based inflation might not ease sharply after kharif crops arrive in the markets. On the other hand, wholesale price index (WPI)-based inflation could see a rise, due to an increase in prices of commodities and metals. CPI inflation rose to 6.07 per cent in July, highest since...
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