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Black money compliance window News

13 Oct 2016

Hyderabad individual declared Rs 10000 cr in black money scheme

Andhra Pradesh Chief Minister N Chandrababu Naidu has claimed that out of the Rs 13,000 crore of black money declared in Hyderabad under a recent scheme, Rs 10,000 crore belonged to a single individual, in apparent hints towards his political rivals.

28 Sep 2016

Black money compliance window: I-T dept to accept declaration without PAN

The Central Board of Direct Taxes (CBDT) has asked tax sleuths to ask such declarants to attach a separate application in the Income Declaration Scheme (IDS) form for allotment of a fresh Permanent Account Number (PAN) to them quickly.

black money deadline

23 Sep 2016

No extension in deadline for black money disclosure scheme

Government on Friday ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window.

02 Sep 2016

Declare black money by September 30 or face action: PM Modi

Prime Minister Narendra Modi has warned those with black money to declare it before the given deadline of September 30, adding that stern action might be taken after that.

07 Jul 2016

Govt may extend tax payment deadline for black money scheme

The government may extend the deadline for payment of tax on black money disclosed during the one-time compliance window and has accepted the industry request for tax being paid in instalments.

02 Jun 2016

Domestic black money window: IT dept notifies declaration forms

The Income Tax department on Thursday notified four new forms for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened this month.

06 May 2016

Black money compliance window disclosures to be kept secret

Disclosures made in the 4-month compliance window beginning June 1 for domestic black money holders to come clean will be kept secret, according to an amendment to the Finance Bill 2016 approved by the Lok Sabha.

04 Apr 2016

Panama Papers: Tax adventurism will prove extremely costly, says FM Jaitley

Amid reports of some Indians having unaccounted wealth in tax havens, Finance Minister Arun Jaitley on Monday said those who did not take advantage of the compliance window last year to declare illegal assets abroad will find "such adventurism extremely costly".

03 Mar 2016

Black money to attract double payout after 4-month window

The window, announced by Finance Minister Arun Jaitley in his Budget 2016-17, will begin on June 1 and provides an opportunity to avoid prosecution with payment of 30 percent tax and 15 percent penalty.

29 Feb 2016

Black money compliance window is neither VDIS nor amnesty: Arun Jaitley

The four-month compliance window for domestic black money holders is not an amnesty scheme, Finance Minister Arun Jaitley said Monday.

29 Feb 2016

Budget 2016: 4-month window for domestic black money holders to come clean

Government Monday came out with one time four-month compliance window for domestic black money holders to come clean by paying tax and penalty of 45 percent.

06 Jan 2016

Black money: Modi govt collects Rs 2,428 crore tax from 644 entities

Narendra Modi government has collected a total of Rs 2,428.4 crore in taxes after over 600 declarations were made by stash holders to the Income Tax department under the one-time black money compliance window that ended last year.

02 Dec 2015

Black money: Govt gets Rs 17 crore tax and penalty till November 26

The government has collected Rs 16.69 crore as taxes and penalty till November 26 from those who have disclosed illegal wealth under the black money compliance window.

22 Oct 2015

Black money: I-T begins final assessment of declarations

The Income Tax department has begun the process of final assessment of those black money declarations that were made to it as part of the one-time compliance window that closed in September.

05 Oct 2015

Black money: Govt revises upward disclosures to Rs 4,147 crore from Rs 3,770 crore

The 90-day blackmoney compliance window declarations were Monday revised upwards to Rs 4,147 crore, from which tax receipts are expected to be over Rs 2400 crore, even as government warned that it will go after those who have not come clean.

02 Oct 2015

Those did not take advantage of black money compliance window will regret: Das

Only 638 declarations for a total overseas wealth totalling Rs 3,770 crore were made during the 90-day compliance window under the Black money (undisclosed foreign income and assets) and Imposition of Tax Act, 2015.

01 Oct 2015

Will now take action against foreign black money holders: Govt

A total of 638 people used the window, declaring an amount of Rs 3,770 crore.

30 Sep 2015

No FEMA action for disclosure under black money window: RBI

RBI Wednesday said no action under FEMA will be taken against declarations under one-time black money compliance window, which ends today.

30 Sep 2015

Rush of black money declarants peak before deadline

A stream of declarants, including from far off places like Rajasthan and Karnataka, walked into the only designated office in Delhi to make declarations before the closure of the one-time black money 'compliance window'.

30 Sep 2015

No action under FEMA for disclosures during black money window

Government has clarified that all those declaring overseas assets during the black money compliance window will not face any penalty or prosecution under FEMA and four other laws.

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