Attention Taxpayers! Don't Forget To Mention This Income Source While Filing ITR As Failure Will Attract Penalty Of Rs 10 Lakh
It must be completed for assessment year 2023-24: 31st July, 2023. Taxpayers will attract a penalty of Rs 10 Lakh, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Jul 18, 2023, 13:16 PM IST
Foreign assets of Chidambaram's family: Congress hits back at Nirmala Sitharaman
The I-T department on May 11, 2018, filed chargesheets against Chidambaram's wife Nalini, son Karti, daughter-in-law Srinidhi and a firm under the Black Money Act.
May 14, 2018, 00:30 AM IST
Nirmala Sitharaman has been appointed attorney at Income Tax department: Chidambaram takes a dig at Union Minister
The BJP on Sunday mounted an attack on the Congress on corruption after chargesheets were filed against family members of P Chidambaram.
May 13, 2018, 19:20 PM IST
Congress' Nawaz Sharif moment: Union Minister Nirmala Sitharaman on chargesheets against Chidambaram's family by I-T department
The family of former finance minister P Chidambaram has said the Income Tax department chargesheets against them under the black money law were 'baseless allegations'.
May 13, 2018, 16:40 PM IST
'Problem of black money can be tackled by rationalising taxes'
Finance Minister Arun Jaitley on Monday said the problem of domestic black money can be addressed by rationalising taxes and bringing more people under the banking net besides some other measures.
Oct 06, 2015, 00:30 AM IST
Bulk of black money is still within India: Arun Jaitley
Stressing that bulk of black money is still within India, he said there is a need to change the attitude to make plastic currency the norm and cash an exception and the government is working with various authorities to incentivise this change.
Oct 04, 2015, 13:16 PM IST
Black money: Only 638 stash holders declare possession of Rs 3,770 crore
Zee Media Bureau
Oct 01, 2015, 10:29 AM IST
Black money: Today is the last date to disclose your unaccounted foreign assets
The Finance Ministry has warned that failure to declare an undisclosed foreign asset "will entail severe consequences", including higher penalty, prosecution, and may also result in forfeiture of assets under the Prevention of Money Laundering Act.
Sep 30, 2015, 12:50 PM IST
Black money: Only Rs 2,000 crore declared by 29 people yet
Zee Media Bureau
Sep 25, 2015, 11:12 AM IST
Govt not to extend Sept 30 deadline to disclose foreign assets
Government will not extend the deadline for income tax assesses to disclose unaccounted foreign assets abroad beyond September 30, which is the expiry date of the three-month compliance window to avoid punitive action, a senior tax official said Tuesday.
Sep 22, 2015, 15:56 PM IST
Black money: Declare foreign asset by Sep 30 or face consequences, warns govt
With less than 10 days being left for close of compliance window under the black money law, the government Monday said there will be no harassment to foreign asset holders who declare their wealth by September 30.
Sep 21, 2015, 19:36 PM IST
Black Money: PMLA action if illegal foreign assets not disclosed by Sept 30
Those holding illegal foreign assets abroad and not disclosing it by September 30 will face action under the stringent anti-money laundering law, the taxman has warned.
Jul 20, 2015, 15:35 PM IST
Black money: Govt warns of consequences for non-disclosure of foreign assets
The Finance Ministry said that if undisclosed assets are unearthed by the tax department at a future date, then 120 percent tax and penalty would be levied on its fair market value on that date, besides a jail term.
Jul 06, 2015, 19:35 PM IST
Compliance window last chance to come clean on black money: Govt
Terming the rules for the new black money law "simple and clear", Finance Ministry on Saturday said the ongoing compliance window will be the last chance to come clean on undisclosed foreign assets.
Jul 04, 2015, 21:01 PM IST
Tax evasion through foreign assets to be a criminal offence
The announcement by Finance Minister Arun Jaitley categorising tax evasion in relation to holding of illegal foreign assets as a "predicate offence" under anti-money laundering laws has, for the first time, made concealment of income a criminal offence in India.
Mar 02, 2015, 18:16 PM IST
Foreign owned assets in India rises to $839 bn in April-Jun
The ratio of India's international financial assets to international financial liabilities stood at 58.7 per cent in June 2014 (59.1 per cent in March 2014).
Oct 05, 2014, 12:52 PM IST
India's forex reserves rise by $1.38 billion
India's foreign exchange (forex) reserves rose by $1.38 billion to $314.92 billion for the week ended June 20, led by a sharp jump in overseas currency assets, the Reserve Bank of India (RBI) data showed.
Jun 28, 2014, 17:43 PM IST
