Black Money

Timelines
Win for Modi government: India receives information on Swiss-bank accounts

07 Oct 2019

Win for Modi government: India receives information on Swiss-bank accounts

For years now, Indians have been listening to the same thing over and over- A lot of money has been stashed in Swiss bank and soon it will return home.

Money in #SwissBanks: UK tops, India down to 74th spot

30 Jun 2019

Money in #SwissBanks: UK tops, India down to 74th spot

Indian money parked in Swiss banks decreased in 2018 and the country's ranking slipped to 74 on the list while the UK retained its top position, showed data released by Swiss National Bank (SNB).

Indian Customs intelligence officers to check financial frauds in China

17 Mar 2019

Indian Customs intelligence officers to check financial frauds in China

India has decided to post Customs intelligence officers in China in its effort to check black money, trade-based money laundering, and other financial frauds, officials said today.

Can't disclose black-money reports as Parl Panel examining them: FM

04 Feb 2019

Can't disclose black-money reports as Parl Panel examining them: FM

The Finance Ministry has declined to share copies of three reports on the quantum of black money held by Indians inside the country and abroad, saying they were being examined by a Parliamentary panel and disclosing details will cause a breach of privilege of the House.

Robert Vadra gets anticipatory bail in money laundering case

02 Feb 2019

Robert Vadra gets anticipatory bail in money laundering case

On Saturday, Delhi's Patiala House court gave anticipatory bail to businessman Robert Vadra in a money laundering case, protecting him from arrest till February 16.

Athawale: RBI not letting govt give everyone Rs. 15 lakh

18 Dec 2018

Athawale: RBI not letting govt give everyone Rs. 15 lakh

In the run up to the 2014 elections, Narendra Modi had promised that every person in the country would receive Rs. 15 lakh if Indians' black money stored in offshore accounts was recovered.

Disclose corruption complaints against serving Union Ministers: CIC to PMO

21 Oct 2018

Disclose corruption complaints against serving Union Ministers: CIC to PMO

The Central Information Commission (CIC) has directed the Prime Minister's Office (PMO) to disclose complaints of corruption received against Union Ministers between 2014 and 2017 and action taken on them.

Finance Ministry refuses to share three reports on 'black money'

23 Jul 2018

Finance Ministry refuses to share three reports on 'black money'

The Finance Ministry has refused to share a copy of three reports on the quantum of black money held by Indians inside the country and abroad, saying its disclosure would cause a breach of privilege of Parliament.

SIT on black money suggests Rs. 1cr cap on cash-holdings

19 Jul 2018

SIT on black money suggests Rs. 1cr cap on cash-holdings

The Special Investigation Team (SIT) on black money has recommended the central government to cap the cash holding limit at Rs. 1cr instead of its earlier suggestion of Rs. 20L.

#MoneyInSwissBanks: India witnesses 50% rise in funds; jumps to 73rd-place

01 Jul 2018

#MoneyInSwissBanks: India witnesses 50% rise in funds; jumps to 73rd-place

India moved up to 73rd place in terms of money parked by its citizens/companies with Swiss banks in 2017, while the UK remains on the top.

Indians' money in Swiss banks rises 50% in one year

29 Jun 2018

Indians' money in Swiss banks rises 50% in one year

Showing an extreme reverse trend, money held by Indians in Swiss banks increased a whopping 50.2% to Rs. 7,000cr in 2017, putting into doubt impact of the government's fight against black money.

I-T department attached benami-properties worth Rs. 4,300cr since new laws

26 Jun 2018

I-T department attached benami-properties worth Rs. 4,300cr since new laws

Since enacting stringent laws on benami properties in November'16, the Income Tax (I-T) department has attached more than 1,500 such assets collectively worth Rs. 4,300cr.

By being tax informant you can become crorepati: Know how

02 Jun 2018

By being tax informant you can become crorepati: Know how

The Income Tax Department has announced three reward schemes under which anyone providing information to the department about the unaccounted wealth of Indians can win a reward of up to Rs. 5cr.

Become an I-T whistle-blower, earn up to Rs. 5cr

01 Jun 2018

Become an I-T whistle-blower, earn up to Rs. 5cr

Sharing "specific information" with the income tax department about any undisclosed black money stashed abroad could earn you up to Rs. 5 crore.

I-T working on more, better rewards for tax evasion informers

06 Apr 2018

I-T working on more, better rewards for tax evasion informers

The I-T Department is working on new rules to encourage people to provide information on tax evasion and benami transactions.

Congress launches campaign against Centre in Himachal Pradesh

04 Mar 2018

Congress launches campaign against Centre in Himachal Pradesh

Himachal Pradesh Congress on Saturday launched a campaign over the alleged failures of the Narendra Modi dispensation and passed five resolutions against the Centre and the state government.

Black money: Purchases above Rs. 6L will soon be flagged

18 Jan 2018

Black money: Purchases above Rs. 6L will soon be flagged

Soon, any purchase you make costing over Rs. 6L will have to be reported to the Financial Intelligence Unit.

NIA seizes Rs. 100 crore demonetized notes in Kanpur

17 Jan 2018

NIA seizes Rs. 100 crore demonetized notes in Kanpur

The National Investigation Agency (NIA) and the UP police have discovered Rs. 100 crore in old demonetized notes hidden in an under-construction building in Kanpur.

Smuggling ring busted: Jet Airways attendant nabbed with $480,200 cash

09 Jan 2018

Smuggling ring busted: Jet Airways attendant nabbed with $480,200 cash

The Directorate of Revenue Intelligence (DRI) has busted an elaborate scheme to illegally convert black money into gold.

ED files second chargesheet against Lalu's daughter

06 Jan 2018

ED files second chargesheet against Lalu's daughter

The Enforcement Directorate (ED) on Saturday filed a second chargesheet in a Delhi court against the former Bihar CM Lalu Prasad Yadav's daughter, Misa Bharti in a money laundering act case .

India-Switzerland to start automatic sharing of tax info from 2019

22 Dec 2017

India-Switzerland to start automatic sharing of tax info from 2019

India and Switzerland have signed a deal that would allow both to automatically share tax-related data from 2019.

PM Modi: Ready to pay political price for better India

30 Nov 2017

PM Modi: Ready to pay political price for better India

While speaking at the inaugural session of the 15th Hindustan Times Leadership Summit 2017, PM Narendra Modi promised to ensure "greater transparency, development-friendly system and citizen-centric governance."

Bitcoins are the new "black" in real estate post-demonetization

23 Nov 2017

Bitcoins are the new "black" in real estate post-demonetization

Over the last one year, the value of Bitcoin -the oldest and largest cryptocurrency- has skyrocketed globally.

I-T freezes 100 bank accounts linked to Sasikala's nephew

12 Nov 2017

I-T freezes 100 bank accounts linked to Sasikala's nephew

I-T sleuths have reportedly frozen at least a hundred bank accounts associated to Jaya TV MD Vivek Jayaraman, VK Sasikala's nephew.

#Demonetization: One year on, here's looking at India in numbers

11 Nov 2017

#Demonetization: One year on, here's looking at India in numbers

It's been a year since PM Narendra Modi discarded the currency notes of denominations Rs. 500 and Rs. 1000. A lot has happened since then.

Panama Papers: Rs. 792cr of undisclosed wealth detected so far

07 Nov 2017

Panama Papers: Rs. 792cr of undisclosed wealth detected so far

Over 1.5 years after Panamagate, the government has for the first time revealed the extent of its implications: Rs. 792cr of undisclosed wealth has been detected so far.

Paradise Papers: SEBI to probe Indian entities named

06 Nov 2017

Paradise Papers: SEBI to probe Indian entities named

Officials of the Securities and Exchange Board of India (SEBI), the market regulator in the country, have taken cognizance of the Paradise Papers leak and the Indians named in them.

Paradise Papers: Top coaching institute FIITJEE named in leak

06 Nov 2017

Paradise Papers: Top coaching institute FIITJEE named in leak

One of the Indian names that came up in the Paradise Papers leak is coaching class franchise FIITJEE.

Demonetization anniversary: I-T gears up to catch the "big fish"

06 Nov 2017

Demonetization anniversary: I-T gears up to catch the "big fish"

As the demonetization anniversary nears, I-T is actively engrossed in bringing into its net the "big fish" owning unexplained wealth.

Paradise Papers leak reveals how 714 Indians stashed money abroad

06 Nov 2017

Paradise Papers leak reveals how 714 Indians stashed money abroad

At least 714 Indians have been named in the Paradise Papers, a cache of 13.4 million documents that constitute the biggest-ever leak of financial data.

AAP to stage nationwide protests on first demonetization anniversary

05 Nov 2017

AAP to stage nationwide protests on first demonetization anniversary

The Aam Aadmi Party will observe November 8, the day PM Narendra Modi demonetized Rs. 500 and Rs. 1000 currency notes last year, as 'Fraud Day'.

BJP plans 'Anti-Black Money Day' on demonetization anniversary

25 Oct 2017

BJP plans 'Anti-Black Money Day' on demonetization anniversary

A day after opposition parties announced they would mark November 8, the first anniversary of demonetization, as 'Black Day', Finance Minister Arun Jaitley talked about BJP's planned 'Anti-Black Money Day'.

Forget Black Friday, opposition to protest demonetization on "Black" Thursday

24 Oct 2017

Forget Black Friday, opposition to protest demonetization on "Black" Thursday

The opposition has decided to mark November 8, demonetization's first anniversary, by observing "Black Day" across the country.

CIC: Black money SIT comes under RTI's ambit

13 Oct 2017

CIC: Black money SIT comes under RTI's ambit

The Central Information Commission (CIC) said that the SC-appointed Special Investigation Team (SIT) on black money is a public entity, bringing it under the Right to Information Act's (RTI) ambit.

Several companies owned hundreds of bank accounts during demonetization!

06 Oct 2017

Several companies owned hundreds of bank accounts during demonetization!

The government has said that 13 banks have furnished information regarding post-demonetization transactions by a whopping 5,800 suspicious companies.

ACB finds 11kg gold while raiding Andhra Pradesh babu's house

26 Sep 2017

ACB finds 11kg gold while raiding Andhra Pradesh babu's house

The Anti-Corruption Bureau (ACB) has nabbed two babus in Andhra Pradesh having disproportionate assets worth several crores.

Bullion trader arrested for money laundering, buying 258kg gold post-demonetization

23 Sep 2017

Bullion trader arrested for money laundering, buying 258kg gold post-demonetization

The Enforcement Directorate has arrested Mumbai-based bullion trader, Chandrakant Narsidas Patel of Pushpak Bullions Private Limited, for buying 258kg gold using laundered money amounting to Rs. 84.5cr, post-demonetization.

Taxpayers, think twice before posting pictures of luxury items online!

10 Sep 2017

Taxpayers, think twice before posting pictures of luxury items online!

Taxpayers will now have to be careful of posting about luxury cars and other such items on social-media networks like Facebook, Twitter, and Instagram.

TN minister reportedly linked to Rs. 246cr deposit during demonetization

09 Sep 2017

TN minister reportedly linked to Rs. 246cr deposit during demonetization

The I-T has detected a single-transaction deposit of a whopping Rs. 246cr made during the post-demonetization period. Adding to the suspicion, it was done after banking hours.

Only Rs. 4,900cr disclosed under Pradhan Mantri Garib Kalyan Yojana

08 Sep 2017

Only Rs. 4,900cr disclosed under Pradhan Mantri Garib Kalyan Yojana

Pradhan Mantri Garib Kalyan Yojana (PMGKY) recovered a mere Rs. 4,900 crore worth black money, disclosed by 21,000 Indians.