UBS pays $1.7 mn for `apparent` sanctions violations

Last Updated: Friday, August 28, 2015, 02:08

The Swiss bank UBS has agreed to pay US authorities $1.7 million to settle "apparent" violations of rules banning transactions benefiting officially designated terrorists, the Treasury Department said Thursday.

Blackmoney: E-filing link to declare illegal assets launched

Last Updated: Tuesday, July 21, 2015, 15:02

According to the scheme, such a declaration filed online by an individual or entity will have to mandatorily bear a "digital signature" for validation.

Black Money: PMLA action if illegal foreign assets not disclosed by Sept 30

Last Updated: Monday, July 20, 2015, 15:35

Those holding illegal foreign assets abroad and not disclosing it by September 30 will face action under the stringent anti-money laundering law, the taxman has warned.

Black money: Govt warns of consequences for non-disclosure of foreign assets

Last Updated: Monday, July 6, 2015, 19:35

The Finance Ministry said that if undisclosed assets are unearthed by the tax department at a future date, then 120 percent tax and penalty would be levied on its fair market value on that date, besides a jail term.

Compliance window last chance to come clean on black money: Govt

Last Updated: Saturday, July 4, 2015, 21:01

Terming the rules for the new black money law "simple and clear", Finance Ministry on Saturday said the ongoing compliance window will be the last chance to come clean on undisclosed foreign assets.

Tax evasion through foreign assets to be a criminal offence

Last Updated: Monday, March 2, 2015, 18:16

The announcement by Finance Minister Arun Jaitley categorising tax evasion in relation to holding of illegal foreign assets as a "predicate offence" under anti-money laundering laws has, for the first time, made concealment of income a criminal offence in India.

I-T Dept adds new column for declaring foreign assets

Last Updated: Monday, July 23, 2012, 21:39

Tightening the norms, Income Tax (I-T) Department has introduced a new column seeking details of foreign assets in the Income Tax Return (ITR) forms for the 2012-13 assessment year.