New Delhi, March 17 (IANS) Giving concrete shape to the announcement on recovering black money stashed away abroad by Finance Minister Arun Jaitley in his budget last month, the union cabinet on Tuesday approved a new law to track the hidden wealth.
Finance ministry sources told IANS that the union cabinet on Tuesday approved the Foriegn Income and Undisclosed Assets (Imposition of New Tax) Bill, 2015, for tabling in the Lok Sabha.
"On black money, a new structure including e-filing and tracking down is our abiding commitment," Jaitley had said in his first full budget speech on February 28.
He said a "comprehensive new law to track black money" would be framed and there will be rigorous imprisonment of 10 years under the black money law.
The finance minister said a 'benami' (proxy) property transaction bill will be brought to tackle black money transactions in real estate.
Weather Update Today: Warning of heavy rain in these states including UP, Bihar, Uttarakhand, know- latest weather updates
It is raining these days in most of the states across the country. Rivers are in spate due to heavy rains in many states and flood-like situations in some areas. The Meteorological Department has
Sri Lanka Crisis: How Sri Lanka's economy got derailed while walking on the path of speed, which created a ruckus, know - China's role in this
The ongoing political and economic unrest in India's neighborhoods has attracted the attention of the whole world. India is also eyeing the economic and political plight of Sri Lanka. India's concern
Construction of houses stopped due to increase in inflation: Inflation increased in the last 5 months, and construction of 4.8 lakh houses stuck in 7 big cities
4.48 lakh crore in 7 big cities of the country. The construction of houses worth about 4.8 lakh crores is currently or is stuck or it is getting delayed. By the end of May 2022, 4,79,940 houses worth
Typhoon Muifa: Port stalled in East China, schools also ordered to be closed; What is the reason after all?
Authorities in China's eastern province of Zhejiang have ordered ships to return to port. It has also asked schools to close and tourists to be evacuated from nearby islands as one of the most
Ratan Tata Died: 'Thank you for worrying about me', what else did Ratan Tata say in his last social media post?
Tata Group's honorary chairman and veteran industrialist Ratan Tata died late Wednesday night. He was 86 years old. Padma Vibhushan awardee Ratan Tata breathed his last at 11:30 pm at Breach Candy
IPL 2025: BCCI's tension increases due to a problem regarding an IPL match; schedule may be changed
Only three days are left in IPL 2025. On March 22, the first match will be played between KKR and RCB at Eden Gardens in Kolkata. Fans are eagerly waiting for this match. Meanwhile, a problem has
IGNOU Re-registration: IGNOU has extended the deadline for re-registration for the January session, now apply till this date
Indira Gandhi National Open University (IGNOU) has extended the re-registration deadline for January 2023 session till January 15, 2023. Interested candidates can now fill out the registration form at
Decision on Vinesh Phogat's medal will be taken today, top lawyer Harish Salve, who defeated Pakistan in the Kulbhushan case, will fight the case
Vinesh Phogat Appeal A decision will be taken today on the medal of Indian female wrestler Vinesh Phogat, who was disqualified before the final wrestling match at the Paris Olympics. The good news for
Now Facebook will also take money for Blue Tick: Zuckerberg will launch the service this week, starting with Australia and New Zealand
After Twitter, now Facebook and Instagram will also charge money for blue tick verification. Meta's founder Mark Zuckerberg informed about the launch of the subscription service late on Sunday night.
Lumpy virus: Governments are not paying attention to genome sequencing, only Maharashtra sent samples after Rajasthan
After Rajasthan, now Maharashtra has also started genome sequencing regarding the lumpy virus, but the rest of the states are not paying any attention to it. Samples from every district of Rajasthan
