Black Money Current Affairs - 2019

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India inks pact with Seychelles to curb black money

India has inked an information exchange agreement on tax matters with Seychelles in order to curb tax evasion and boost its efforts to fight against black money. The agreement was signed after talks between Prime Minister Narendra Modi and his counterpart Seychelles President James Alix Michel who is on three days visit to India. This Read More…

Month:  Categories: Governance & Politics

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SEBI bars 59 entities from trading for manipulating markets and evading taxes

The Securities and Exchange Board of India (SEBI) has barred 59 entities from trading in Bombay Stock Exchange due to alleged manipulation of the stock exchange route for evading taxes. As per the order of SEBI these 59 entities will not conduct any activity of trading, buying, selling or dealing in the securities markets, either Read More…

Month:  Categories: Business, Economy & Banking

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Government approves pact between India and Seychelles to curb black money

With an intention of curbing black money generation the government approved signing and ratification of the Tax information exchange agreements between India and Seychelles. According to the agreement both the nations will exchange information with each other regarding taxes so as to curb tax evasion and avoidance by its citizens. As per the agreement the Read More…

Month:  Categories: Business, Economy & Banking

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BSE sets up new system for reporting suspicious trades

Bombay Stock Exchange has instituted new system Suspicious Transaction Reports (STRs) for reporting suspicious trades in order to check money laundering through stock markets. The national stock exchange has asked its members to report details of the STRs submitted to the government’s Financial Intelligence Unit (FIU) on a monthly basis. As per new rules Trading Read More…

Month:  Categories: Business, Economy & Banking

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Union Government opens compliance window for black money disclosure

Union Government has notified the compliance window for black money disclosure under the Black Money (Undisclosed Foreign Income and Asset) and Imposition of Tax Act, 2015. The notified compliance window makes it mandatory for people to disclose their foreign income and assets till 30th September 2015. Those who make the disclosure during this notified period Read More…

Month:  Categories: Governance & Politics

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RBI extends deadline for exchanging pre-2005 currency notes till December 2015

The Reserve Bank of India (RBI) has extended the date to exchange pre-2005 bank notes till December 31, 2015 for third time. Earlier in December 2014, RBI had set the last date for public to exchange these notes as June 30, 2015. RBI has urged people to deposit the old design notes in the bank Read More…

Month:  Categories: Business, Economy & Banking

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India joins the Multilateral Competent Authority Agreement on Automatic Exchange of Information

India has joined the Multilateral Competent Authority Agreement (MCAA) on Automatic Exchange of Financial Account Information (AEOI). The new global standards has wide in scope and oblige the treaty partners to exchange wide range of financial information from institutions from their country. In order to implement these standards in India necessary legislative changes will be Read More…

Month:  Categories: Business, Economy & Banking

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