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Government takes various steps in last two years to curb the menace of Black Money both within and outside the country.

News and Press Release - Dated:- 10-5-2016 - The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this r .....

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e M.B. Shah vide notification dated 29th May, 2014.. Many recommendations of SIT have been implemented since then. (c) A new Income Disclosure Scheme is formulated for domestic black money. (d) Enhanced enforcement measures have resulted in un-earthi .....

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(32% increase over corresponding two previous years). (e) Prosecution has been launched in 1466 cases as against 1169 cases in the previous two years (25% increase). 2. Amendments made in Prevention of Money-laundering Act, 2002, vide Finance Act, 20 .....

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confiscated property or part thereof, on the directions of Special Court to claimants with a legitimate interest in the property, who may have suffered a quantifiable loss as a result of the offences of money laundering. Section 132 of Customs Act w .....

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penalty or interest referred to in section 51 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 has been made a scheduled offence under PMLA. 3. Recent Notification under PMLA In connection with risk mitigati .....

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