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Simply stepping forward and declaring the money is not an appealing option for tax dodgers, as banks have to report to tax authorities anybody depositing over 250,000 rupees ($3,765).

Indians find way out as black money noose tightens

Being found to be holding undeclared cash can lead to a penalty of 200 per cent of the tax owed.

12 Nov 2016 10:42 AM IST

Finance Minister Arun Jaitley (Photo: PTI)

DeMo, GST to widen tax base, make cash dealing difficult: Jaitley

Govt come out with laws to contain overseas black money as well as those dealing with domestic black money.

22 July 2017 1:32 PM IST

Finance Minister Arun Jaitley (Photo: PTI)

Income-Tax found stash worth Rs 19,000 crore

Mr Jaitley said there is no official estimation of black money stashed outside the country.

22 July 2017 7:14 AM IST

The entire racket was being run with an attempt to convert the black money in old notes into white. (Photo: PTI)

Note ban: Success without victory

Elimination of black money strengthens, directly or indirectly, the cause of national security.

11 Jan 2017 2:39 AM IST

RBI Governor Urjit Patel (Photo: PTI)

Board recommended note ban after govt advice: RBI to Parliament panel

Some ministers have thus far maintained that the govt had only acted on RBI recommendation of demonetisation.

10 Jan 2017 5:17 PM IST

Prime Minister Narendra Modi addressing at the launch of a new mobile app Bhim to encourage e-transactions at Talkatora Stadium in New Delhi. (Photo: PTI)

Note ban, LoC strike to be on BJP poll plank

PM Modi given standing ovation for twin moves to usher in an era of transformation'.

7 Jan 2017 5:43 AM IST

The entire racket was being run with an attempt to convert the black money in old notes into white. (Photo: PTI)

Income-Tax detects Rs 306 crore shady deals

Racket linked to dubious bullion trade busted in national capital.

7 Jan 2017 1:36 AM IST

The loans requirement in India is estimated to be $ 1.5 trillion by 2020 and it is growing by 18 per cent CAGR.

SMEs benefit from digital lending

It is estimated that the credit gap for SMEs is $370 billion.

6 Jan 2017 5:24 AM IST

President Pranab Mukherjee delivering the New Year message to the Governors & Lt. Governors of all States/UTs through Video Conference using National Knowledge Network at Rashtrapati Bhavan in New Delhi. (Photo: PTI)

Note ban might hit growth, says Pranab Mukherjee

President was addressing the governors and lieutenants governors through video-conferencing from Rashtrapati Bhavan.

6 Jan 2017 2:50 AM IST

Janata Dal (United) leader Sharad Yadav. (Photo: PTI)

Centre must come up with unemployment compensation, similar to GST:...

JD(U) leader Ali Anwar said that unemployment gives birth to problems like crime, law and order related issues, naxalism...

31 July 2017 9:02 AM IST

Sharad Yadavs remark comes days after Bihar CM Nitish Kumar quit the grand alliance with the RJD and the Congress and aligned with the NDA to form the state govt. (Photo: PTI)

Have faith in Modi, he will bring back black money: BJP to Sharad...

Earlier on Sunday, JD(U) leader Sharad Yadav hit out at the BJP for failing to keep the promise of bringing back black...

31 July 2017 7:57 AM IST

Tax payers will also need to quote their Aadhaar number while filing their returns as per the recently passed amendments in the Finance Bill.

I-T dept will watch your foreign holiday trips, pictures

Tax department will soon start collecting such information from social media under Project Insight.

28 July 2017 11:02 AM IST