-The Times of India NEW DELHI: The aam aadmi putting up with the widespread distress and economic loss caused by declaring invalid all Rs 500 and Rs 1,000 currency notes sees a positive side to the move — it will unearth and stamp out black money. This is one of the stated objectives in the government's notification of November. There is also the target of finishing off fake currency, which harms...
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Amid black cash hunt, Supreme Court moved on political gifts -J Venkatesan
-The Asian Age Prashant Bhushan has filed this application in the pending petition challenging the arbitrary appointment of the CVC. New Delhi: Common Cause organisation has approached the Supreme Court regarding bribes paid to prominent politicians by corporate groups, as revealed during the raids by income tax department and the CBI in 2013 and 2014. Advocate Prashant Bhushan has filed this application in the pending petition challenging the arbitrary appointment of the chief...
More »CAG may audit process of black-money scheme, not individual declarations
-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...
More »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 »No plan to tax agricultural income: Govt
-The Times of India New Delhi: Amid predictions of good monsoon rainfall, Union agriculture minister Radha Mohan Singh on Tuesday said the country would definitely see higher foodgrain production during 2016-17 even as he made it clear that there is no plan to tax agricultural income. While giving his reassurance, he said the Centre will probe if there was any anomaly in the system with regard to undeclared incomes. He said he...
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