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Declaration of undisclosed Black Money

News and Press Release - Dated:- 22-11-2016 - A total number of 64,275* declarants have made declaration of undisclosed income of ₹ 65,250* crore under the Income Declaration Scheme, 2016. (*Provisional). Under the Income Declaration Scheme, 20 .....

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nment has taken several measures, by way of policy initiatives and enforcement action, to curb black money. Such measures include - (i) Constitution of the Special Investigation Team (SIT) on Black Money under Chairmanship and Vice-Chairmanship of tw .....

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ringent provisions for concealment penalties (equal to three times the amount of tax payable) and contains stringent provision for prosecution. (iii) Constitution of Multi-Agency Group (MAG) consisting of officers of Central Board of Direct Taxes (CB .....

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ce the exchange of information under Double Taxation Avoidance Agreements (DTAAs)/Tax Information Exchange Agreements (TIEAs)/ Multilateral Conventions. (v) Joining the Multilateral Competent Authority Agreement in respect of Automatic Exchange of In .....

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expanding India s treaty network by signing new DTAAs and TIEAs with many jurisdictions to facilitate the exchange of information and to bring transparency. (vii) Enabling attachment and confiscation of property equivalent in value held within the c .....

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amend the Benami Transactions (Prohibition) Act, 1988 with a view to, inter alia, enable confiscation of Benami property and provide for prosecution. The provisions of the amended Prohibition of Benami Property Transaction Act, 1988 have come into ef .....

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