As IT raids increase, black money takes the Bangladesh route

newnotes1Bengaluru, Dec 23: The Intelligence Bureau has suggested enhanced security along the border areas to prevent black money in new notes from being sent abroad. There is specific intelligence that suggests several persons are sending their black money in new notes to Bangladesh.
The Income Tax Department has stepped up the heat which has prompted black money hoarders to send their money abroad. The first clues were received when the Border Security Force seized Rs 29.70 lakh in new Rs 2,000 notes at Nokchi in West Garo Hills District in Meghalaya on Thursday.

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Did Kerala politicians off load black money in cooperative banks?

blackmoney1aBengaluru, Nov 24: Did some cooperative societies in Kerala collect old currency and show it as a deposit done before November 8, the day demonetisation of the Rs 500 and 1,000 notes were announced?

With complaints soaring the Income Tax Department in Kerala has launched a probe to find out if there were any wrong-doings by the the cooperative banks in in the state.

The IT department in Kerala is looking at the deposits made into cooperative banks with the old currency. The IT is looking at how these banks accepted the demonetised notes.

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Black money hoarders scout for Jan Dhan accounts

jandhanNew Delhi, Nov 16 The finance ministry has instructed officials to keep a close watch on the deposits being made into Jan Dhan accounts.

There has been a spurt in activity following the announcement of demonetisation and the government suspects that the accounts of the poor might be used to park money.

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J&K- Demonitisation leaves separatists’ coffers dry

sep1Srinagar, Nov 11: The separatists want to agitate, but then where is the money? All the money they get to carry forth the agitation is black and of course would have been in the Rs 500 and 1,000 denominations which today is invalid.

The agitation that the separatists have been spearheading for months now was all backed by black money given by Pakistan.

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Black money hoarders – Don’t say Modi didn’t warn you enough

He said declare your income ….you asked why ?He warned you about black money .. you asked why ?

He talked about financial inclusion … you asked why ?

He asked u to buy paper gold . He talked about Indian ladies purchasing gold .. you asked why …

He gave an answer in a single shot..

Now ask yourself on why u asked him why ..

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Black money hoarders – Don’t say Modi didn’t warn you enough

He said declare your income ….you asked why ? He warned you about black money .. you asked why ? He talked about financial inclusion … you asked why ? He asked u to buy paper gold . He talked about Indian ladies purchasing gold .. you asked why … He gave an answer in a single shot.. Now ask yourself on why u asked him why ..

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High value notes being scrapped for the 2nd time in India’s history

Banned Rs 5000 and Rs 10000 notes. Pic courtesy: Desh Gujarat
Banned Rs 5000 and Rs 10000 notes.
Pic courtesy: Desh Gujarat

New Delhi, Nov 9: Prime Minister Narendra Modi made a big announcement on Tuesday by declaring Rs 500 and 1,000 notes as invalid.

While the move has received mixed reactions, one must know that this is the second time in the history of India that high value notes are being scrapped.
Back in 1978, the then Prime Minister, Morarji Desai had banned all currency above the Rs 100 denomination. That year too the ban was enforced to tackle the problem of black money.

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Black money: Leaked data will be considered as stolen cash by Switzerland

blackmIndia’s fight against black money is expected to get a boost with the Swiss Federal Council approving bill that permits sharing of stolen data with other countries.
India’s fight against black money had taken a back seat and it could not probe the 600 accounts with suspected black money as the laws in Switzerland did not consider leaked data as stolen.

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Black Money probe version 2.0

blackmThe Income tax department will ensure complete secrecy when it comes to the issue of black money. Revealing the names of black money holders has done more harm than good for the cause. Certain countries have given out names in good faith but the fact that the names have been made public has not gone down too well with those countries. During the first phase of the probe into black money holdings, several names had been made public. This has led to a slow down in more information coming in to India.
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