As the heat turns on the government on the issue of black money, the Institute of Chartered Accountants of India (ICAI) on Thursday said it would suggest to the finance ministry ways to track and control illicit money.
All set for more public interactions even as PM has been critical of the apex auditor recently.
Concerned over the frequent leaks of its "half baked reports", the office of the Union comptroller and auditor-general (CAG) has decided to issue different versions of its draft reports -- the ones given for feedback and reactions before the final version is readied -- to ministries and public sector units to nail the sources of leaks.
The apex auditor is busy preparing a report on the Air India-Indian Airlines merger and modernisation of airports through public-private-partnerships, both carried out during the previous term of the United Progressive Alliance government.
"It is felt there should be an arm's-length distance between the fund manager and the custodian of securities. There should be separation between fund manager, banker and the custodian," a senior labour ministry official said.
A senior CBDT official said the idea was to use TDS as a major driver to meet the stiff direct tax collection target of Rs 5.33 lakh crore in the current financial year.
The Planning Commission is expected to take a call soon on the expenditure, which will be a component of the health ministry's 12th plan allocation. The ministry is expected to pitch for doubling the allocation for the overall health sector, it is learnt.
India is pushing for speedy implementation of a globally networked customs (GNC) platform, which envisages an interconnected customs-to-customs information sharing system.
Implementation of GST demands full support from all states.
Delegation to insist on flexibility in aiding low-cost access to HIV treatment.
Agencies to help get data on assets of taxpayers.
With the setting up of the watchdog Competition Commission of India (CCI) and introduction of new legislation like the Direct Taxes Code and the Goods & Services Tax scheduled next year, private companies and consultancies are looking at the government pool of civil servants to meet their requirements.
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.
Eight commonly prescribed anti-cancer drugs will soon enter India's National List of Essential Medicines (NLEM).
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 ministry has asked 44 pharmaceutical companies, including global drug majors such as Eli Lilly, Novartis, Pfizer, Bayer, Merck, Johnson & Johnson and Sanofi Aventis, to explain why they have not given the compensation, which is mandatory under the current drug laws.
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.
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