Black Money Current Affairs - 2019

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Union Cabinet gives nod to Benami Transactions (Prohibition) (Amendment) Bill, 2015

Union Cabinet has given its approval to Benami Transactions (Prohibition) (Amendment) Bill, 2015. The Bill seeks to amend the Benami Transactions (Prohibition) Act, 1988 by adding additional provisions that provides for stringent measures against violators in order to curb and check the generation of black money in the country. It also adds provisions for attachment Read More…

Month:  Categories: Business, Economy & Banking

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Lok Sabha passes Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015

Lok Sabha on 11 May 2015 passed Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015 by a voice vote. The bill seeks to deal with the menace of black money and to replace the Income Tax (IT) Act, 1961 for the taxation of foreign income. Salient features of the Bill Scope- Provisions will Read More…

Month:  Categories: Constitution & Law

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Union Cabinet gives nod to black money bill

Union Cabinet has cleared the black money bill to curb the menace of black money in the country. Decision in this regard was taken at the cabinet meeting in New Delhi. Union Government is seeking to introduce this bill the current budget session of Parliament. Some provisions of bill The proposed bill gives powers to Read More…

Month:  Categories: Business, Economy & Banking

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India third on black money list: GIF report

As per recently released Global Financial Integrity’s (GFI’s) 2014 Annual Global Update on Illicit Financial Flows report has placed India on third rank on black money list. Key facts of report This report estimated that nearly $94.76 billion (nearly Rs 6 lakh crore) illicit wealth outflowed in 2012 from India. In this report, Russia is Read More…

Month:  Categories: Reports & Indices

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Government submits list of 627 people having illegal accounts in foreign banks to SC

The Centre has submitted a list of people having illegal accounts in foreign banks to the Supreme Court (SC), who handed it over to the SC appointed SIT (Special Investigation Team) Attorney-General Mukul Rohatgi filed a set of three documents in a sealed cover with the SC, on behalf of the Central Government. The documents Read More…

Month:  Categories: Constitution & Law

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