Odisha black money haul shoots up to Rs 270 crore
The bankers are having a tough time to keep count of the black money haul after the seizure of "unaccounted" cash in the wake of the Income Tax Department raid on an Odisha-based distillery group.
The bankers are having a tough time to keep count of the black money haul after the seizure of "unaccounted" cash in the wake of the Income Tax Department raid on an Odisha-based distillery group.
Many methods have been tried for elimination of black money; we had several rounds of demonetisation, several voluntary disclosure schemes, some schemes to regularise undisclosed foreign assets, and so on. The only commonality between all such measures was their failure to prevent generation of black money. Strategically declaring their black money, tax evaders took full advantage of the frequently announced Government schemes. However, not many of the tax evaders discontinued their tax evading ways, so, after a few years, things came back to square one
the former Union Minister said: "Banks have clarified that no identity, no forms and no proof will be required to exchange the Rs 2,000 notes
"The black money issue has been dealt with by a bilateral treaty between Switzerland and India in 2018 on the automatic exchange of banking information between Switzerland and India (in both directions)," said Heckner.
The plea said that India has been ranked at the 80th position among 180 countries and territories in the Corruption Perception Index (CPI)
BJP leader claims Banerjee herself is in possesion of huge black money and she should first return them, then demand for its recovery.
The Finance Minister also proposed that business establishments with an annual turnover of more than Rs 50 crore shall offer low cost digital modes of payment to their customers and no charges or Merchant Discount Rate (MDR) shall be imposed on customers as well as merchants.
While tainted money and corruption cant be completely eradicated, the present dispensation has been zealously pursuing policies to minimise them
On 8 November 2016, Prime Minister Narendra Modi announced the biggest-ever demonetisation exercise India has ever seen by abruptly withdrawing Rs 500 and Rs 1,000 notes from public use.
Sanjay Kumar Mishra will take over from incumbent Karnal Singh whose tenure at the agency ends on Sunday.
