https://www.taxtmi.com/news?id=26239 Demonetisation increased detection of undeclared cash and expanded the tax base, producing higher direct tax collections, greater Personal Income Tax advance and self-assessment payments, and marked growth in Income Tax Returns filed by individuals and corporates; concurrent search-and-seizure actions yielded seizures and admissions of undisclosed income. Enforcement under the Prevention of Money Laundering Act produced attachments, arrests and prosecution complaints, while proceedings under the Foreign Exchange Management Act resulted in seizures, show-cause notices, adjudications, penalties, and orders for confiscation. en-us Mon, 13 Feb 2023 18:44:55 +0530 Mon, 13 Feb 2023 18:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26239 Demonetisation increased detection of undeclared cash and expanded the tax base, producing higher direct tax collections, greater Personal Income Tax advance and self-assessment payments, and marked growth in Income Tax Returns filed by individuals and corporates; concurrent search-and-seizure actions yielded seizures and admissions of undisclosed income. Enforcement under the Prevention of Money Laundering Act produced attachments, arrests and prosecution complaints, while proceedings under the Foreign Exchange Management Act resulted in seizures, show-cause notices, adjudications, penalties, and orders for confiscation. News - Mon, 13 Feb 2023 18:44:55 +0530 https://www.taxtmi.com/news?id=26239