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In a recent ruling, the Delhi High Court has ordered the Goods and Services Authorities (GST) to release the cash seized by the authority under Section 67(2) of the Central Goods and Services Tax (CGST) Act, 2017 considering it black money. The court said the move was illegal and also ordered to provide a potential […]
To curb the Black Money, the Income Tax Department has started doing investigations on illegal funds and properties stashed abroad by Indians. It has been done through anti-black money drive.
GST was always an ambitious plan when one takes into consideration the diversity that India as a nation subsumes within its territorial boundaries.
The government along with income tax department is now taking some strict actions against all the doubtful account holders showing and in the same league, in an offer to clip down on unaccounted money piped into bank accounts post demonetisation, the tax office has examined and coordinated upwards of 1-crore accounts and requested that 18 lakh individuals clarify the wellspring of reserve.
Arun Jaitley again assured the general public to not to panic while the income tax department is concerned for those who are exchanging their petty cash in the banks. As the imminent news service interviewed Mr. Arun Jaitley, he himself said that “Small deposits which are made, nobody will face any questions or harassment of […]
The Finance Minister Arun Jaitley had considered the decision of the Government to legalize a new law on black money. This law will specifically deal with black money that is stashed away abroad. The Arun Jaitley has also promised to introduce the new bill in the current session of the Parliament. In order to the […]
The Union Budget has introduced a new low on Black Money. “The Chartered Accountants can play an effective role in curbing the black money in tandem with the spirit of the Budget.” This is the word of Manoj Fadnis, who is president of the Institute of Chartered Accountants of India (ICAI). The new law will […]
The Institute of Chartered Accountants of India (ICAI) has begun a certificate programme for their candidates on anti-money laundering laws. This certificate course will help the students to diagnosticate the crisis of black money. The Indian Government is also working on several ways to brake the menace of slimy fund flow. In addition, last year, […]
The Income Tax Department has commenced taking actions against unidentified /nameless property and black money.
