Finance Minister Nirmala Sitharaman further informed the House that 648 disclosures involving undisclosed foreign assets worth Rs 4,164 cro...

Anyone facing prosecution for corruption, holding benami property, money laundering, foreign exchange violation or drug trafficking won't g...

The extension of time till April 30 has also been given to banks for uploading details into the RBI's E-Kuber system.

Under the scheme, a citizen could deposit his old notes with a bank, provided he was willing to lock up 25% of the money in bonds for 4 yea...

"Representations have been received from various stakeholders regarding difficulties in uploading of declaration in Form No 1 under the PMG...

If hard cash is being disclosed under PMGKY, its existence is necessary on the date of making payment of tax, surcharge and penalty under P...

After November 8 demonetisation announcement, the government allowed the junked Rs 500 and Rs 1000 notes to be deposited in bank accounts.

Under the PMGKY, undisclosed income deposited in any bank or post office account can be declared by paying 50 per cent of it in taxes and s...

An exercise is on to verify the genuineness of the deposits and tally them with tax returns. I-T has already served around 5,000 notices.

Declarations under PMGKY would be subject to a total tax of about 50% and a quarter of the amount declared would be locked in interest-free...

According to the latest data inflows slowed down substantially after that and over the next two weeks, deposits rose less slowly to Rs 74,6...

Unaccounted cash in Rs 500/1000 notes can now be deposited any of the 29 scheduled bank that are entitled to accept income tax.

Pradhan Mantri Garib Kalyan Yojana will allow people to deposit previously untaxed money by paying 50% of the total amount.

The Lok Sabha has amended the Income Tax Act to provide for higher tax and penalty on such undisclosed income. The Bill is pending in the R...

This analysis will help you understand under which option immunity from other laws would be available and where it would not be.

The government has offered the carrot – the least tax option of the Garib Kalyan Yojana – and shown the stick: the hiked tax and penalties.

The move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the ban.