Recommendations of SIT on Black Money as Contained in the Third SIT Report

Recommendations of SIT on Black Money as Contained in the Third SIT Report https://www.taxtmi.com/news?id=14746 The note identifies market and non-market mechanisms laundering unaccounted wealth-artificially inflated scrips to convert sale proceeds into tax-exempt capital gains, opaque Offshore Derivative Instruments/Participatory Notes lacking final beneficial owner KYC, and shell companies providing accommodation entries-and recommends enhanced surveillance, mandatory individual beneficial ownership disclosure to regulators, data-mining of corporate filings for red flags, inter-agency information sharing, and referrals to fraud and money-laundering authorities where predicate offences are established. en-us Fri, 24 Jul 2015 16:31:22 +0530 Fri, 24 Jul 2015 16:32:00 +0530 TaxTMI RSS Generator Recommendations of SIT on Black Money as Contained in the Third SIT Report https://www.taxtmi.com/news?id=14746 The note identifies market and non-market mechanisms laundering unaccounted wealth-artificially inflated scrips to convert sale proceeds into tax-exempt capital gains, opaque Offshore Derivative Instruments/Participatory Notes lacking final beneficial owner KYC, and shell companies providing accommodation entries-and recommends enhanced surveillance, mandatory individual beneficial ownership disclosure to regulators, data-mining of corporate filings for red flags, inter-agency information sharing, and referrals to fraud and money-laundering authorities where predicate offences are established. News - Fri, 24 Jul 2015 16:31:22 +0530 https://www.taxtmi.com/news?id=14746