Black money generators: Jewelry, IPO, realty & bullion Black money generators: Jewelry, IPO, realty & bullion Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

« Direct Tax »

Open DEMAT Account in 24 hrs
GSTR-3B deadline expired: File now to avoid input tax credit loss, GST registration cancellation
ITR Filing: Income tax department shortens time limit for condonation of delay What it means for taxpayers
CBDT launches campaign to intimate taxpayers on undeclared foreign assets in ITR
ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources
CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
CBDT weighs overhaul of designations for income tax officials to secure better clarity
Direct tax-GDP ratio at millennial high in FY24
CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
Tax filing: How to choose the right ITR form
Income Tax Return: How to maximise your tax refunds while filing ITR?
Last date for filing income tax return (ITR)


« Upgrade technology, raise trained manpower for tax...	GAAR provisions to be part of DTC, to come into effect in... »
Black money generators: Jewelry, IPO, realty & bullion

May, 21st 2012
The Finance Minister Pranab Mukherjee has tabled white paper on black money in Parliament today. The 100-page report is quite detailed and exhaustive but does not contain any names. According to the report, black money generating sectors are jewelry, IPO, land, real estatea and bullion. It also states that black money in Swiss accounts has reduced from Rs 23, 373 crore in 2006 to Rs 9295 crore in 2010 after there were protests The White Paper is likely to contain the report of an official committee, set up in May 2011, under the chairmanship of Central Board of Direct Taxes (CBDT). This was in addition to the independent studies being carried out by National Council of Applied Economic Research (NCAER), National Institute of Public Finance and Policy (NIPFP) and National Institute of Financial Management (NIFM).