<h1>SIT Report Urges Stricter Controls on Black Money, Calls for SEBI Action and Central KYC Registry Implementation.</h1> The Special Investigation Team (SIT) on Black Money highlighted the misuse of long-term capital gains tax exemptions for money laundering, recommending enhanced monitoring by SEBI and collaboration with tax authorities. Concerns were raised about Participatory Notes being used for laundering, urging SEBI to identify beneficial owners. The report also addressed shell companies, suggesting proactive detection and penal action. Recommendations included limiting cash transactions to curb black money, regulating donations to educational and religious institutions, and establishing additional courts for tax cases. The SIT emphasized the need for a Central KYC Registry and tighter controls on cricket betting due to its link to black money.