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BLACK MONEY DISCLOSURE
Why West’s crypto rules matter for East’s financial futureThe US CLARITY Act addressing legal uncertainty will shape global crypto regulation. Eastern hubs like the UAE and Singapore are moving ahe...- Got ESOPs, a foreign bank account, or savings abroad? Here's what the tax department expects from you
- Mismatch between Rahul Gandhi's income, foreign trips' expenses, says BJPThe BJP has turned the spotlight on Rahul Gandhi's extensive global travels, calling for transparency over the sources of funding for these...
- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- Relaxation in conditions for prosecution under the Black Money Act for these taxpayers: Budget 2026 announcementThe Black Money Act, 2015, imposes penalties and prosecution for wilful non-disclosure of foreign income and assets. Amendments are propose...
- Foreign account, property, bullion can't be disclosed under PMGKYA separate foreign black money disclosure window was provided earlier which closed on September 2015.
- New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted depositsAnyone not availing of this scheme and gets subsequently caught with unreported income will face a higher penalty. This could be over 60%.
- Tax dept scanning IDS disclosures filed through postGovernment had offered a one-time chance to holders of income and assets that had illegally escaped taxes, to come clean by paying 45 per c...
- Over Rs 71,000 cr disclosed under IDS, says ICAIMore than Rs 71,000 crore (worth undisclosed income) has been disclosed under the IDS as per latest available information, said ICAI Presid...
- Was the black money disclosure scheme a success?The scheme was a moderate success. Aggregate disclosures amount to Rs 65,250 crore, on which 45% is payable as tax, surcharge and penalty, ...
- Queries swamp taxmen as Income Declaration Scheme deadline looms; last-minute spurt in disclosures likelyAs with the earlier scheme for declaration of overseas assets, officials expect major declarations in the last few hours, making estimates ...
- No extension in deadline for black money disclosure schemeUnder the IDS, people can disclose their undeclared income and escape prosecution. The scheme, closes on September 30.
- No proposal to extend Income Disclosure Scheme deadline: GovernmentIDS provides for immunity from prosecution under the Income-tax Act and Wealth Tax Act alongside immunity from the Benami Transactions Act,...
- Black money crackdown: Government to rope in celebs to boost income disclosure schemeSources said the govt is launching regional campaigns, initially in Tamil and Telugu, to advocate the merits of the scheme meant to suck ou...
- Income Disclosure Scheme: Taxmen to seek info from suspected black money holdersThe Tax Department is considering sending e-mails to the entities against whom it has information of not disclosing assets that are taxable...
- Arun Jaitley warns black money holders of consequencesFinding out details is not difficult once there is a real-time sharing of information, he said, adding, "those who have missed the bus cert...
- Government opens compliance window for black money disclosureThose availing the one-time 'compliance window' would be required to pay a tax of 30 per cent and a penalty of a similar amount.
- It's raining black money disclosures in GujaratThe monsoon might have given most parts of the state a miss, but it's raining black money disclosures for income tax (I-T) department in Gu...
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