Searched for
UNDISCLOSED CASH DEPOSIT
US-based son gets tax notice in India over Rs 11 lakh cash deposit made on behalf of parents during demonetisation; ITAT Delhi cancels notice for this reasonA US-based son, Mr. Bussi, successfully challenged an Indian income tax notice after depositing Rs 11 lakh cash into his parents' account d...- Hidden risks in mortgaged properties: Essential due diligence steps for safe buyingA Supreme Court ruling in 2025 favored a land buyer who was defrauded by a seller concealing an existing mortgage. The court affirmed that ...
- RBI cracks the whip on office account misuseRBI has asked banks to curb unauthorised overdraft, laundering via intermediary accounts.
- Proof of tax paid, 4-year money lock-in must to avail of tax evasion amnesty scheme PMGKYAnyone facing prosecution for corruption, holding benami property, money laundering, foreign exchange violation or drug trafficking won't g...
- All revised I-T returns post demonetisation under lensThe government told all tax offices to accept only those revised tax returns where there is a “bona fide inadvertent error” or “a mistake” ...
- Deposits under PMGKDS can be made till April 30The extension of time till April 30 has also been given to banks for uploading details into the RBI's E-Kuber system.
- I-T department detected Rs 5,400 crore of undisclosed income detected post-demonetisation: FM Arun JaitleyJaitley gave these details during the Question Hour, where he claimed that no other government had taken so much action against black money...
- Hard cash being disclosed under PMGKY must exist on payment dateIf hard cash is being disclosed under PMGKY, its existence is necessary on the date of making payment of tax, surcharge and penalty under P...
- Paid loan in cash or made cash deposits above Rs 5 lakh? Get ready to be grilledThe CBDT has asked I-T officers to act against those who fail to verify cash deposits of Rs 5 lakh or more during the demonetisation drive.
- Modi govt allows people to deposit unaccounted cash in parts under amnesty schemeAfter November 8 demonetisation announcement, the government allowed the junked Rs 500 and Rs 1000 notes to be deposited in bank accounts.
- Your assets not hidden from us: I-T dept to black money hoardersUnder 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...
- Black money disclosure scheme: Window open only for unaccounted cashAnyone holding unaccounted cash can come clean after paying a total 50% tax and depositing 25% of the amount declared in a non-interest yie...
- Foreign account, property, bullion can't be disclosed under PMGKYA separate foreign black money disclosure window was provided earlier which closed on September 2015.
- Rs 4 lakh crore of cash deposits so far may be suspect; depositors likely to get I-T noticeAn 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.
- Use old notes to pay taxes, penalty under IDS: Modi govtDeclarations 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...
- Government allows use of old notes for tax payment under PMGKYUnaccounted cash in Rs 500/1000 notes can now be deposited any of the 29 scheduled bank that are entitled to accept income tax.
- Depositing black money in banks will not make it white: FM Arun JaitleyThe 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...
- These are the only 4 tax options if you hold black moneyThis analysis will help you understand under which option immunity from other laws would be available and where it would not be.
- Proposed black money tax changes decoded: What you need to knowThe government has offered the carrot – the least tax option of the Garib Kalyan Yojana – and shown the stick: the hiked tax and penalties.
- Unaccounted deposits post demonetisation likely to attract up to 60% taxThe move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the ban.
Load More
