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

The government told all tax offices to accept only those revised tax returns where there is a “bona fide inadvertent error” or “a mistake” ...

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

Jaitley gave these details during the Question Hour, where he claimed that no other government had taken so much action against black money...

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...

The 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.

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...

Anyone holding unaccounted cash can come clean after paying a total 50% tax and depositing 25% of the amount declared in a non-interest yie...

A separate foreign black money disclosure window was provided earlier which closed on September 2015.

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...

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

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.