MONEY

  • Rupee falls 26 paise on fresh dollar demand Yesterday

    Mumbai: The rupee on Monday ended lower by 26 paise at 62.67 against the US currency due to renewed month-end demand from importers for the dollar. Fresh capital outflows and dollar gains in overseas markets also weighed on the rupee, while strong rebound in local equities restricted the rupee's fall,...
  • Amid intense government pressure, Swiss banks seek fresh undertakings from Indians 2 days ago

    New Delhi: Seeking to come clean on illicit funds amid intense government pressure, Swiss banks have asked their Indian clients to provide fresh undertakings to ensure that untaxed money is not stashed in their accounts. Swiss banks, long perceived to be safe havens for parking unaccounted funds, have also started asking...
  • No foreign funding, no money from capitalists: Anna Hazare 4 days ago

    Ralegan Siddhi: Anti-corruption crusader Anna Hazare, who recently announced a nationwide 'jail bharo andolan' against the NDA government's Land Acquisition Bill, claimed that he has never received foreign funds or money from capitalists for the work he is engaged in. "I want to deny allegations of receiving foreign funds and...
  • Rupee falls 31 paise against dollar in early trade 5 days ago

    Mumbai: The rupee weakened by 31 paise to 62.64 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange on month-end demand for the American currency from banks and importers. Forex dealers attributed the fall in the rupee to increased demand for the dollar from importers and...
  • Mauritius promises India full-cooperation on tax treaty issues 6 days ago

    Port Louis/New Delhi: Mauritius has promised full cooperation with India to address outstanding issues relating to their bilateral tax treaty, days after Prime Minister Narendra Modi's visit to the island nation. The much-talked about changes in India-Mauritius Double Taxation Avoidance Agreement (DTAA) have been hanging fire for a long time, despite...
  • Black money law: Foreign property to be taxed at current price March 22, 2015

    New Delhi: Indians having undisclosed property abroad will have to pay tax and penalty on the basis of the current market value of the asset, and not at the purchase price, as per the new black money bill. However, the tax and penalty would take into account the part-disclosure, if...
  • Black money bill likely to be tabled in Lok Sabha on Friday March 19, 2015

    New Delhi: To check the black money menace, a bill is likely to be tabled in the Lok Sabha on Friday with stringent provisions to prosecute those stashing illicit wealth abroad, with rigorous imprisonment of up to 10 years. The Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill,...
  • Cabinet approves Bill to unearth black money March 17, 2015

    New Delhi: In a bid to unearth black money and illicit assets stashed abroad, the Union Cabinet on Tuesday approved a Bill with stringent provisions for prosecution of such offences with rigorous imprisonment of up to 10 years. "The Cabinet has approved Undisclosed Foreign Income and Assets (Imposition of New Tax)...
  • Jewellers threaten strike over 'black money' tax plan March 17, 2015

    New Delhi: Indian jewellers threatened on Monday to go on strike over a government plan that would require customers to quote their tax code for major purchases as part of a clampdown on the black economy. Jewellers say about 80 per cent of the $122 billion industry's business comes from rural...
  • Delhi Court to record pre-charge evidence against Dabur promoter Burman on March 18 March 16, 2015

    New Delhi: A Delhi court on Monday fixed March 18 for recording pre-charge evidence in an alleged tax evasion case lodged against Dabur promoter Pradip Burman, whose name has cropped up in a black money list submitted by the government to the Supreme Court. Additional Chief Metropolitan Magistrate Devendra Kumar Sharma...
  • Rupee rises by 16 paise to end at 62.81 against US dollar March 16, 2015

    Mumbai: Bucking a fall in stocks, the Indian rupee on Monday gained 16 paise to end at 62.81 against the American currency on fresh selling of dollars by banks and exporters. While the US dollar hit 12-year high against the Euro earlier in the day ahead of Fed policy meet,...
  • Rupee breaches 63-mark against, ends 47 paise down at 62.97 on weak stocks March 13, 2015

    Mumbai: The Indian rupee on Friday breached the the 63-mark intra day against the Greenback and ended with a sharp loss of 47 paise at 62.97 on sustained dollar demand from importers amid weakness in local shares. It crossed the 63-level after two months as it hit a low of...
  • Rupee rebounds 28 paise against US dollar to end at 62.50 on recovery in stocks March 12, 2015

    Mumbai: In step with smart recovery in local equities, the Indian rupee on Thursday rebounded by 28 paise to close at 62.50 against the American currency on fresh dollar selling by exporters. A weak dollar overseas also helped the rupee recover from two-month lows, said forex dealers, adding that IMF...
  • Rupee hits two-month low, down 21 paise against US dollar at 62.76 March 10, 2015

    Mumbai: Tracking weak stocks, the rupee on Tuesday fell 21 paise to end at two-month low of 62.76 against the greenback on sustained dollar demand from importers amid US rate hike concerns. A smart rise in dollar index against its major rivals also put pressure on the rupee. There was...
  • Nagaland Chief Minister TR Zeliang accused of money laundering March 9, 2015

    Nagaland Chief Minister TR Zeliang has been accused of stashing 78 crores black money in foreign accounts. Zeliang who faced a floor test in the first week of February, faces rebellion from within his party which has accused him of money laundering. ...
  • Rupee hits 2-month low, tanks 39 paise against dollar on US rate hike fears March 9, 2015

    Mumbai: The Indian rupee on Monday fell to two-month low and closed with a sharp 39 paise loss at 62.55 against the US dollar after better-than-expected jobs data spurred expectations of an early hike in US interest rates. Fresh dollar demand from importers amid strong cues in overseas markets and...
  • Rupee rebounds from one-week low, up 9 paise at 62.16 against US dollar March 5, 2015

    Mumbai: Rebounding from one-week low, the Indian rupee on Thursday rose by 9 paise to finish at 62.16 against the dollar, snapping its four-day falling trend, on the back of dollar selling by banks and exporters amid rise in stocks. Moreover, dealers avoided taking any long dollar positions ahead of...
  • 2G money laundering case: A Raja, others to answer 400 questions March 4, 2015

    New Delhi: A special court on Wednesday supplied a draft copy of the questionnaire of 400 questions to former telecom minister A Raja, DMK MP Kanimozhi and others in a money laundering case related to 2G spectrum allocation. Central Bureau of Investigation (CBI) Special Judge OP Saini supplied the draft questionnaire...
  • Government faces embarrassment in Rajya Sabha; opposition amendment passed March 3, 2015

    New Delhi: Government on Tuesday faced an embarrassment in the Rajya Sabha when an amendment moved by the opposition to the President's Address over corruption and black money was passed. The amendment was moved by CPI(M) members Sitaram Yechury and P Rajeeve and it was passed through Division of Votes after...
  • No definite date to bring back black money: Government March 3, 2015

    New Delhi: Government on Tuesday said that it was not possible to provide a definite timeline on bringing back the black money stashed abroad. "Sustained efforts made to obtain information about Indians having black money stashed abroad have already resulted in levy of taxes and penalty and launching of prosecution...
  • India @ 9 with Anchal Vohra March 1, 2015

    Catch the day's top stories with Anchal Vohra on India @ 9. ...
  • India to join top global league with proposed black money law March 1, 2015

    New Delhi: India will join the league of countries like Singapore, UK and the US with its proposed law to check black money, under which those hiding income and evading tax in relation to foreign assets can be slapped with a prison term of up to ten years. In fact, the...
  • Narendra Modi regime cracks down on black money, will have one time compliance opportunity: sources March 1, 2015

    New Delhi: A day after Finance Minister Arun Jaitley presented his first full-fledged Budget, the Narendra Modi government took the first step towards cracking down on black money. The Centre will soon introduce one time compliance opportunity, said Finance Ministry sources on Sunday. Sources said the government expected huge revenue collection...
  • Budget 2015: India vows tough punishments to bring home 'black money' March 1, 2015

    New Delhi: India said it plans tougher punishments including jail terms of up to 10 years for those who hide undeclared cash outside the country and for the banks and advisers who help them, as it tries to bring back illicit billions stashed abroad. In his Budget address on Saturday, Finance...
  • Highlights of Union Budget 2015 February 28, 2015

    New Delhi: Following are the highlights of the Union Budget 2015-16 presented by Finance Minister Arun Jaitley in Parliament on Saturday: * No change in personal Income Tax * Health Insurance Premium deduction hiked from Rs 15,000 to Rs 25,000; for senior citizens to Rs 30,000 ...
  • Ram Jethmalani meets Anna Hazare to discuss black money issue February 26, 2015

    New Delhi: Noted advocate and former BJP leader Ram Jethmalani met anti corruption crusader Anna Hazare on Wednesday to discuss the issue of black money, which the saffron party had promised to bring back once it came to power. Lashing out at the government, Jethmalani said that the government was not...
  • Rupee surges 23 paise to 3-week high of 61.97 vs US dollar February 25, 2015

    Mumbai: The rupee extended its gains against the American currency for the second consecutive day, surging 23 paise to end at nearly three-week high at 61.97 on Wednesday on Budget optimism and sustained dollar selling by banks. Good foreign capital inflows also helped the rupee maintain its gains at closing, forex...
  • Union Budget 2015: Government may pursue spending to push economic growth, says Aditya Birla Money February 24, 2015

    The annual budget will be presented on 28th February, 2015 and there is an air of expectation which has built up around it. This is Modi government's first full budget and hence a lot of emphasis is going to be placed on the government's flagship promises since 2014 (Swachh Bharat,...
  • Anna Hazare returns, targets Modi government's Land Ordinance; Kejriwal to participate on Tuesday February 23, 2015

    New Delhi: Anna Hazare, who shook the previous UPA government four years ago with his anti-corruption crusade, is back in the national capital to take on the BJP government of Prime Minister Narendra Modi for its "pro-rich" development agenda. Attacking Modi government's Land Acquisition, Rehabilitation and Resettlement Bill, Hazare said...
  • Budget 2015: Finance Minister may announce important policy plans to combat blackmoney February 23, 2015

    New Delhi: Finance Minister Arun Jaitley is likely to announce policy initiatives on some of the key recommendations made by the Special Investigation Team (SIT) on black money to combat the menace of illicit funds, stashed within the country and overseas, when he presents the Budget on February 28. While the...