Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
'We saw people tripping over each other, running, screaming.' 'You could see people running with their daily briefcase despite suffering deep cuts and blood pouring from them.'
It will launch jurisdiction-free assessment from October
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
Linking all accounts is a difficult and costly task for brokers
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
After initiating stern action against 331 companies, the market regulator seems willing to revoke its stringent restrictions for some entities.
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
Section 276CC provides for prosecution and makes tax evasion punishable with rigorous imprisonment of three months to seven years along with a monetary penalty depending on the amount dodged.
Writes to Trai, Mumbai Police to catch unauthorised SMS senders
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
PMO asked income-tax department to submit report on action taken against identified benami owners
Official is accused of taking a bribe of Rs 2 cr to issue order in an appeal favouring Balaji Trust
Tax wing scanning cash deposits between Rs 5-10 lakh
Government's move to hire UK arbitrator follows poor track record of India in extraditing offenders from Britain
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
Lack of closure to the algo controversy could weigh on sentiment, say experts
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