Also Read - SC stays HC order disallowing black money law to operate retrospectively

The Supreme Court Tuesday stayed the Delhi High Court order which had held that the 2016 black money law cannot be allowed to operate with retrospective effect from July 2015 to book and probe offenders. A vacation bench headed by Justice Arun Mishra also stayed the May 16 order of the high court, which had restrained the Income Tax (I-T) department from taking any action against VVIP chopper scam accused Gautam Khaitan, against whom a black money case has been lodged. "Notice. The im...

Also Read - Fin Min refuses to share black money reports

The Finance Ministry has refused to share 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. The then UPA government had in 2011 commissioned these studies by Delhi-based National Institute of Public Finance and Policy (NIPFP) and National Council of Applied Economic Research (NCAER) as well as the National Institute of Financial Management (NIFM) in Faridabad. Replying to...

Also Read - 21,000 people disclose Rs 4,900 crore black money under PMGKY

Black money worth Rs 4,900 crore was disclosed by 21,000 people under the Pradhan Mantri Garib Kalyan Yojna (PMGKY), the stash money declaration window announced by the government post demonetisation, an official said.  The Income Tax Department, a top government official told PTI, has collected a tax of Rs 2,451 crore till now from these declarations.  "21,000 people disclosed Rs 4,900 crore of black money under the PMGKY scheme that closed on March 31 this year. These are ...

Also Read - CBI detects over 300 shell companies used to divert money worth Rs 2,900 cr

A complex web of 393 shell companies used for allegedly diverting funds unscrupulously to the tune of Rs 2,900 crore has been unearthed by the CBI during its probe into such cases over the last three years. CBI sources said the shell companies were allegedly being used by the accused to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money. Round-tripping is sending money abroad to tax havens ...

Also Read - No estimates of undeposited black money in old notes - Govt.

There is no official estimate of black money held in scrapped Rs 500 and Rs 1,000 notes that have been left undeposited with banks during the demonetisation period. "There is no official estimation of the amount of black money in form of old Rs 500/1000 that have not been deposited during the course of demonetisation drive," Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Lok Sabha. Cash deposits of more than Rs 5 lakh were made in 23.87 lakh ac...

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