Category: Black Money

Income Declaration Scheme 2016 Jurisdictional Commissioner Pr CIT. Declaration to be made to CITexercising jurisdiction over the declarant u/s 120

Income Declaration Scheme 2016 Jurisdictional Commissioner Pr CIT. Declaration to be made to CIT exercising jurisdiction over the declarant u/s 120  Circular No.19/2016 F.No I87/10/2016.ITA.I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (Income-Tax) New Delhi, the 25th May,2016 Income Declaration Scheme, …

British Virgin Island Panama Papers Investigation Guidelines and Procedure issued by Government-CBDT for making requests for information to BVI

British Virgin Island Panama Papers Investigation Guidelines and Procedure issued by Government-CBDT for  making requests for information to BVI F.No.500/12/2013-FT&TR-III Government of India Ministry of Finance Department of Revenue (Foreign Tax & Tax Research Division) ***** Dated: 12th May 2016 To, All Pr.CCsIT/DGsIT(Inv.) Madam/Sir, Subject: Exchange of Information …

Govt plan making black money fake notes circulating ineffective. No guidelines to minimise cash transactions to curb money laundering, black money.

Govt plan making black money fake notes circulating ineffective. Denies about any guidelines to minimise cash transactions to curb money laundering, black money.  The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of …

Measures taken by the Indian Government to Curb Black Money in the Country particularly black money stashed away abroad-Press Release

The Measures taken by the Government to Curb Black Money in the Country Ministry of Finance Press Release dated 27/04/2016 The Government has taken several measures to effectively deal with the issue of black money, particularly black money stashed away abroad. Such measures include policy-level initiatives, more effective …

Government-It should not be assumed that everyone (including Indian Citizens) who appears in Panama Papers is involved in tax avoidance or evasion

Tax Evasion by Indian Citizens Named in Panama Papers Ministry of Finance Press Release dated 27/04/2016 Recently, information about certain offshore entities held by various Indian persons has appeared in media. Such information is attributed to be part of ‘Panama Papers’ leaks. The International Consortium of Investigative Journalists …

Multi-Disciplinary Team for Probing the Panama Papers Leaks. Group consists of CBDT, ED, FIU and RBI with Convenor as Member (Investigation), CBDT.

Multi-Disciplinary Team for Probing the Panama Papers Leaks Ministry of Finance Press Release dated 27-04-2016 Recently, information about certain offshore entities held by various Indian persons has appeared in media. Such information is attributed to be part of ‘Panama Papers’ leaks. The International Consortium of Investigative Journalists (ICIJ), …
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