Agencies to help get data on assets of taxpayers.
As part of the stepped-up efforts to track transfer of funds parked overseas in India, the investigating agencies have brought Cross Border Bank Guarantees (CBBGs) and Standby Letters of Credits (SLOCs) under the scanner.
Economy grew by 8.6 per cent in 2010-11.
Regulator proposes mutual fund model for infrastructure debt funds.
In an extensive exercise to track overseas bank accounts of Indians and round-tripping of funds, top investigating agencies in the country are gathering actionable intelligence on chartered accountants, brokers, legal firms and professionals involved in these areas.
The reservations of Environment Minister Jairam Ramesh on the projected additional electricity generation capacity of 100,000 Mw during the 12th Five-Year Plan (2012-17) period has failed to cut much ice with the Planning Commission.
The Income Tax (I-T) Department has embarked on a plan to create a national data centre to facilitate a management information systems-based, real-time analysis of data for quick and effective decision making.
Plans joint venture with private ATM service providers.
The Reserve Bank of India (RBI) is likely to soon notify that the information about an individual captured in 'Aaadhar', issued by the Unique Identification Authority of India (UIDAI), would be sufficient to fulfill the KYC (know your customer) norms for all financial products.
A senior Central Board of Direct Taxes official told Business Standard the Income Tax department had decided to intensify its vigil on the non-payment of TDS on interest earnings and non-disclosure of such income in the tax return.
A senior finance ministry official said, on the condition of anonymity, that the top echelons of the government tried to convince the Central Board of Direct Taxes (CBDT) for a sympathetic consideration of the company's plea in the case pertaining to the income of the erstwhile Satyam Computer Services Ltd (SCSL) from abroad.
Skoch events are organised with pomp and show in the swanky hotels of Delhi and Mumbai every year.
Essar will have to pay capital gains tax, as the company will be gaining from the deal.
Queing before Income Tax Department officials will soon become a practice of the past. The department is making an elaborate plan to equip its offices throughout the country with Aaykar Seva Kendras (ASKs) which will work as a single-window facility for taxpayers for filing applications for services and redressal of grievances including paper returns.
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
Economic Affairs Secretary R Gopalan, who retains charge of financial services, has shown an ability to grasp ground realities in pushing critical reforms.
Plans to outsource record-keeping to private entities.
This scheme would help salaried people, especially those working in far-flung and remote areas with armed forces and para-military forces.
Ussue will be raised at the meeting of the Central Board of Trustees of the Employees Provident Fund Organisation on Tuesday.
The president and CEO of Devas, Ramachandran Viswan-athan said, "It is puzzling to hear about such a decision, especially as we have not been intimated. We have not received any communication from any quarter, government, Space Commission or Isro."
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