Black money outflow from India increases nine-fold
The outflow of black money from India to foreign countries has increased nine-fold from USD 10 billion in 2003 to USD 94.7 billion in 2012.
Dec 16, 2014, 16:38 PM IST
Make tax evasion serious crime for black money info: SIT chief
While adding more teeth to India's pursuit of black money kept abroad, this would also check generation of unaccounted wealth within the country, the SIT Chairman M B Shah said.
Dec 14, 2014, 14:51 PM IST
Cross border tax evasion of Rs 9,951 crore detected in last 3 years
The customs field formations, including Directorate of Revenue Intelligence, detected 1,914 cases involving tax evasion worth Rs 4,769.25 crore in 2013-14.
Dec 05, 2014, 22:33 PM IST
SEBI tightens surveillance; over 25 listed firms under scanner
In a major crackdown on listed companies suspected to be existing 'only on paper', SEBI has initiated action against more than 25 such firms amid concerns they could have been set up to route black money or evade taxes.
Dec 04, 2014, 18:44 PM IST
FM for more global cooperation to check tax evasion, smuggling
Calling upon revenue intelligence agencies to enhance cooperation with their global counterparts to check tax evasion and smuggling, Finance Minister Arun Jaitley on Thursday said free trade should also mean fair trade.
Dec 04, 2014, 11:45 AM IST
India must show tax fraud proof for valid probe: Swiss on black money
Switzerland Wednesday said it was willing to cooperate with India over the black money issue if the latter provides prima facie evidence of illegality, but will not proceed in the matter on the basis of stolen data.
Dec 04, 2014, 00:02 AM IST
Court fixes Jan 27 for hearing cases against Pradip Burman
The court had earlier granted bail to Burman but barred him from leaving the country.
Dec 03, 2014, 16:23 PM IST
Nobody knows how much black money is stashed abroad: Rajan
Stating that nobody knows the exact amount of black money stashed away in overseas tax havens, RBI Governor Raghuram Rajan Tuesday said lower income tax rates will help curb generation of such illicit funds.
Nov 25, 2014, 22:45 PM IST
I-T dept seizes over Rs 135 cr cash, jewellery from Sahara group
The Income Tax department has claimed to have seized cash of over Rs 135 crore from the premises of Sahara group during its raids on its two premises in Delhi and Noida in connection with alleged tax evasion charges.
Nov 24, 2014, 21:38 PM IST
EU's Juncker defends position, urges global tax evasion fight
Tax is a key issue at this weekend`s gathering of world leaders in the sun-baked Australian city, with the host country Friday vowing a "very aggressive" crackdown on tax avoidance.
Nov 15, 2014, 09:07 AM IST
Absence of treaties with tax haven nations blocking black money fight
Absence of criminal legal treaties between India and tax haven nations have been cited by probe agencies working in the SIT on black money as one of the major impediments in initiating steps to bring back illegal funds stashed abroad by Indians.
Nov 12, 2014, 17:05 PM IST
Black money: 'No valid reason given for not revealing names'
The secrecy clause hurdle in DTAA could be overcome, Swamy said.
Nov 08, 2014, 14:40 PM IST
G20 committed to global response to deal with cross border tax evasion: India
An action plan to tackle BEPS to make sure companies pay their fair share of tax is expected to be finalized in 2015. The BEPS initiative would ensure that tax is paid where profits are made.
Nov 06, 2014, 20:36 PM IST
China's farm smuggling crackdown uncovers $1.16 bn in lost tax
The crackdown on smuggling of cheaper farm produce started in March and comes after Beijing raised domestic agricultural prices to protect its rural population.
Nov 04, 2014, 10:04 AM IST
Large-scale account inheritance emerges in black money probe
Accounts inherited from family members as also from previously-constituted trusts or companies have come to the fore in a big way.
Nov 03, 2014, 15:24 PM IST
Effective steps taken to bring back black money: Ravishankar
While the BJP government has shown firm commitment on the subject of black money, Congress did nothing during its rule on the issue, he said.
Nov 03, 2014, 14:56 PM IST
Fifty-one countries sign OECD pact to tackle tax cheats
The countries that signed include most European Union nations, as well as traditional tax havens like Liechtenstein, the British Virgin Islands and the Cayman Islands.
Oct 29, 2014, 23:29 PM IST
Black money: India fails to attend OECD meet on combating tax evasion
Official sources said that India was not able to attend the Berlin meeting where it was to sign a multilateral competent authority agreement and intended first information exchange date.
Oct 29, 2014, 22:48 PM IST
Tax summit in Berlin aims to say goodbye to banking secrecy
The finance ministers of around 50 countries meet in Berlin on Wednesday to sign a deal they hope will put an end to banking secrecy and aid the worldwide fight against tax fraud and evasion.
Oct 29, 2014, 10:27 AM IST
Black money: SC orders Centre to reveal all names by tomorrow
In a major development, the Supreme Court on Tuesday ordered the central government to reveal by Wednesday all the names it has with regard to black money.
Oct 28, 2014, 16:50 PM IST
