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TAX PROPOSAL AND BLACK MONEY ERADICATION - CLEAN INDIA INITIATIVE - Budget 2015

Tax in General + Budget + Finance Acts - By: - CS Swati Dodhi - Dated:- 2-3-2015 Last Replied Date:- 30-12-1899 - TAX PROPOSAL Objective of stable taxation policy and a non-adversarial tax administration. Fight against the scourge of black money to .....

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and removal of various tax exemptions and incentives to reduce tax disputes and improve administration. Exemption to individual tax payers to continue to facilitate savings. Broad themes : ♦ Measures to curb black money; ♦ Job creation .....

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♦ Benefit to middle class tax-payers; and ♦ Stand alone proposals to maximise benefit to the economy Black Money Generation of black money and its concealment to be dealt with effectively and forcefully. Investigation into cases of undi .....

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rm genuineness of bank accounts and provide non-banking information; ♦ Provide such information in time-bound manner; and ♦ Commence talks for automatic exchange of information New structure of electronic filing of statements by reportin .....

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on of tax in relation to foreign assets to have a punishment of rigorous imprisonment upto 10 years, be non-compoundable, have a penalty rate of 300% and the offender will not be permitted to approach the Settlement Commission. ♦ Non-filing of .....

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