Black Money

Wednesday, Nov 29, 2023 | Last Update : 02:24 PM IST

Farrukh Dhondy | Of property and ‘theft’ in today’s Britain: The rise of black money

I have, in my short and happy life, been a guest at the London luxury flats, houses and the country estates of Indians and indeed Pakistanis

23 Oct 2021 1:26 AM

The ministry said that the media reports allude to the fact that the figures reported are official figures reported by banks to the Swiss National Bank (SNB) and do not indicate the quantum of much-debated alleged black money held by Indians in Switzerland. (PTI Photo)

Finance Ministry refutes reports of alleged rise in Indians' funds in Swiss banks

The Ministry has sought relevant facts from Swiss Authorities along with their view on possible reasons for the increase/decrease in funds

19 Jun 2021 1:16 PM

The CBI had received information that 51 current accounts of 48 firms were opened in four branches of these banks “solely for effecting outward remittances” to the tune of Rs 1,038.34 crore, the officials said.

Black money: 51 firms booked by CBI

The agency has named three individuals — Mohammed Ibramsa Johney, Zinta Midhar and Nizamuddin, besides 48 companies in the FIR, sources said.

07 Jan 2020 2:09 AM

Information exchanged under such tax agreements is covered under confidentiality provisions of respective agreements. Thus, disclosure of tax related information and information sought/obtained from foreign governments is exempted under section 8 (1) (a) and 8 (1) (f) of the Right to Information (RTI) Act, it said in response to the RTI application filed by this PTI journalist. (Photo: Representational | AP)

FinMin declines to share Swiss accounts details of Indians citing confidentiality

In reply to an RTI query, the ministry also refused to disclose the details of black money received from other foreign countries.

23 Dec 2019 2:57 PM

The value of total notes in circulation as at end of March 2019 stood at Rs 21,109 billion, Minister of State for Finance Anurag Thakur said in a written reply in the Lok Sabha on Monday. (Photo: File)

Currency in circulation rises to Rs 21 lakh crore as on March 2019: Thakur

MoS Finance Anurag Thakur was responding to a query whether currency notes in circulation increased post-demonetisation.

10 Dec 2019 9:25 AM

The Swiss government began making details of dormant accounts public in 2015 to allow their claimants submit necessary proof to get access to those funds, which included at least 10 accounts linked to Indians. (Photo: Representational)

No claimants for dormant Swiss accounts of Indians; some may get liquidated soon

The claim period for some of these accounts would expire next month, while a few others can still be claimed till the end of 2020.

10 Nov 2019 12:52 PM

The next exchange would take place in September 2020, the spokesperson added. (Representational image | AP)

India gets first tranche of Swiss account details

This is the first time that India has received details from Switzerland under the AEOI framework.

07 Oct 2019 4:48 PM

Addressing a Martyrs Day rally, the Trinamool Congress (TMC) supremo Mamata Banerjee slammed the Bharatiya Janata Party (BJP). (Photo: Twitter/ ANI)

Return 'promised Rs 15 lakh black money' to people: Mamata to BJP

TMC has filed an FIR against Dilip Ghosh for threatening to drag party leaders out of buses on their way to the rally.

21 Jul 2019 1:47 PM

Besides, the India-Switzerland tax treaty facilitates receipt of information on request basis for cases under investigation, MoS External Affairs V Muraleedhran said. (Photo: Representational | AP)

India to get Swiss bank details of all Indians from September

The first set in September would be followed by further despatches on a yearly basis, according to Switzerland's FDF.

10 Jul 2019 7:29 PM

The funds, described by SNB as 'liabilities' of Swiss banks or 'amounts due to' their clients, are official figures disclosed by Swiss authorities and do not indicate the exact quantum of the much-debated alleged black money held in famed safe havens of Switzerland. (Photo: Representational | PTI)

Money in Swiss banks: India slips to 74th place, UK remains on top

India was ranked 73rd last year, after jumping 15 places from its 88th position a year ago.

30 Jun 2019 12:48 PM

Aggregate funds of all foreign clients of Swiss banks also fell by over 4 per cent to CHF 1.4 trillion (nearly Rs 99 lakh crore) in 2018. (Photo: AP)

Indians' money in Swiss banks falls, hits second-lowest level in two decades

Swiss banks, including through India-based branches, fell by nearly 6 pc in 2018 to 955 million Swiss francs (about Rs 6,757 crore).

28 Jun 2019 9:32 AM

The only way to get rid of the problem of unaccounted or “black” money is to legalise it with a penalty, and let all money work towards lifting the economy.

Black money: How to solve this problem?

The committee has advised legislators to simplify and rationalise direct tax laws to prevent the generation of unaccounted wealth.

26 Jun 2019 2:38 AM

The government is likely to challenge certain sections of this black-money report soon after it comes up in both Houses of parliament. (Photo: File)

Black money is over $490 billion, hints LS panel

The report also made some negative observations about the Union government’s efforts to fight the menace of unaccounted income.

25 Jun 2019 1:46 AM

Officials involved in the process of mutual administrative assistance between the two countries said. (Representational Image)

Swiss authorities to share details of at least 50 Indians holding illicit wealth

In 2014 PM Modi had termed the crackdown on black money, including those allegedly parked in Swiss banks, as a key focus area.

17 Jun 2019 1:13 PM

While Switzerland has always denied being a safe haven for black money, it has begun sharing details for last few years with several countries including India after submission of evidence about financial and tax-related wrongdoings of the clients of Swiss banks. (Representational Image)

11 Indians get notices from Switzerland to share bank info

The two Indians whose names have been mentioned in full are Krishna Bhagwan Ramchand and Kalpesh Harshad Kinariwala.

27 May 2019 11:01 AM

The bench issued notice to Khaitan and asked him to file his response to the government's petition within six weeks. (Representational Image)

SC stays Delhi HC order disallowing black money law to operate retrospectively

'Notice. The impugned order (of the high court) is stayed,' the bench said.

21 May 2019 12:09 PM

SC to hear Centre plea on black money law today

The Centre in its plea before the top court has contended that Delhi high court has committed a “grave error of law.”

21 May 2019 6:43 AM

A Delhi court on Saturday granted bail to Ritu Khaitan, wife of AgustaWestland chopper scam accused Gautam Khaitan, in a black money and laundering case. (Representational Image)

Wife of chopper scam accused Gautam Khaitan gets bail in black money case

Special Judge granted relief to Ritu Khaitan after she appeared before court in pursuance to summons issued after filing chargesheet.

04 May 2019 1:50 PM

Houses of Congress men ‘ATMs of black money’: Mukhtar Abbas Naqvi

He said the Congress should explain to probe agencies as well the people of the country from where such huge sums of black money has come from.

10 Apr 2019 3:03 AM

Unlisted companies filing ITR-6 too will have to provide details of investors, their residential status in India, PAN, date of allotment, number of shares held, issue price per share and amount invested.

Directors, investors in unlisted cos cannot file Income Tax returns Sahaj, Sugam

This aimed at tightening the noose on unlisted companies appointing dummy directors and use shell companies for money laundering.

05 Apr 2019 8:13 PM

1 of 16

Columns

Bhopinder Singh

black money