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SIT on black money News

SIT on black money

19 Jul 2018

SIT on black money suggests Rs 1 crore cap on cash holdings

The latest recommendations come after the earlier suggested limits of Rs 15 lakh and Rs 20 lakh were found to be too low.

03 Mar 2017

Rs 70,000 crore worth black money detected since notes ban, says black money committee member

Deputy Chairman of the Supreme Court- appointed SIT on black money, Justice Arijit Pasayat, on Thursday said Rs 70,000 crore of black money has been unearthed so far and the sixth report on it will be submitted to the apex court in April.

23 Aug 2016

SIT's recommendation of banning cash transactions above Rs 3 lakh under consideration: CBDT

The Central Board of Direct Taxes (CBDT) on Tuesday said that the SIT's recommendation of banning cash transactions of Rs 3 lakh and above is under consideration.

SIT on black money

22 Jul 2016

SIT on black money instructions to ED for action against scammer exporters

21 Jul 2016

Black money: SIT gives instructions of action on scammer exporters

Share Bazar, Mandi Live, Aap Ka Bazar, First Trade, Big Debate etc.

14 Jul 2016

Black money: Ban cash transactions of above Rs 3 lakh, restrict cash holding limit to Rs 15 lakh, recommends SIT

The Special Investigation Team (SIT) on black money has recommended ban on cash transactions of above Rs 3 lakh and restricting cash holding with individuals to not more than Rs 15 lakh to curb illegal wealth in the economy.

Black money disclosure

19 Jun 2016

'Difficult to avoid black money disclosure under new scheme'

The chief of SIT on black money feels it will be "difficult" for those holding untaxed assets to avoid disclosure under the ongoing one-time compliance window opened by the government after the limited success of a similar scheme launched last year for those with tainted money overseas.

Black money outflow

12 Jun 2016

$505 billion outflow of black money from India 'heavily exaggerated', Directorate of Revenue Intelligence to SIT

Global Financial Integrity had in its report "Illicit Financial Flows from Developing Countries 2004-2013" estimated that black money outflow from India for the period was to the tune of USD 505 bn.

Income Tax department

27 Apr 2016

Panama paper leaks: I-T dept may go to court, seek SIT to probe 7-year old cases

The Panama Papers are a set of over 11 million confidential documents detailing information about more than 214,000 offshore companies compiled by Panamanian corporate service provider Mossack Fonseca.

26 Apr 2016

Black money: SC asks SIT to look into Bank of Baroda scam

The Supreme Court Tuesday directed the Special Investigation Team (SIT) on black money to look into a fresh plea seeking a probe into the recent Bank of Baroda scam case.

26 Apr 2016

Black money SIT holds meet; reviews Panama, foreign stash cases

The Special Investigation Team (SIT) on black money Tuesday held a meeting and reviewed some important tax evasion and money laundering probe cases like the recent 'Panama Papers' disclosures and those related to bank frauds.

13 Mar 2016

Black money: DRI probes illicit outflow of $505 billion

The Directorate of Revenue Intelligence (DRI) has started a probe to verify whether USD 505 billion was siphoned out of the country illegally during 2004-13, when Congress-led UPA was in power.

15 Feb 2016

Black money: SIT asks DRI to verify if $505 billion flown out of India from 2004-13

The instruction to DRI comes on the heels of US-based think-tank Global Finance Integrity stating in a report that India had fourth largest outflow of black money in the world with a whopping USD 51 billion being siphoned out every year between 2004 and 2013.

03 Dec 2015

P-Notes norms strict and robust: Sinha

Finance Minister Arun Jaitley had in July said the government is mindful of the impact on foreign investment in case of any action against P-Notes.

22 Nov 2015

Black money: FIU to generate reports on suspects in 72 hours

Government has bolstered the capabilities of the elite Financial Intelligence Unit (FIU), which can now dish out volumes of data on suspicious transactions in 72-hours flat and gain access to secret database of offenders maintained by various law enforcement agencies in the country.

23 Nov 2015

Black money: ED scanner on Indians named in HSBC list

Tightening the noose around Indians whose names figured in the 'stolen' Swiss HSBC bank black money list, the Enforcement Directorate has begun a preliminary investigation in these cases for an independent hawala and money laundering probe.

19 Nov 2015

Black money: CBDT reviews HSBC accounts, ICIJ cases

The CBDT Thursday reviewed some important black money and tax evasion probes being conducted by the Income Tax department, including the HSBC Geneva banks list and few others where it is suspected that Indians have stashed assets abroad.

Special Investigation Team

03 Nov 2015

Falciani raising hue and cry, not responding to requests: SIT

SIT Chairman M B Shah said India is prepared to give Herve Falciani and other whistleblowers "full cooperation" in the fight against the menace of black money.

SIT on black money

03 Nov 2015

SIT on black money for greater vigilance to check shell companies

The total number of firms sharing their address with at least 19 other companies are 13,581, the SIT report said.

Special Investigation Team

27 Oct 2015

SIT submits 4th progress report on black money; SC to hear case in January

The Special Investigation Team (SIT) on black money submitted the fourth report on the progress of its probe on Tuesday.

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