India has signed a pact with the British Virgin Islands to check tax evasion and money laundering.
A joint team of the Enforcement Directorate and the CBI will travel to the tax haven nation of British Virgin Islands in connection with its probe against various entities in the 2G spectrum allocation case.
What has surprised the industry is that the Bill has been tabled without any consultation. Critics warn the ban on real-money gaming could fuel black markets, endanger 200,000 jobs and billions in tax revenue.
Here is the complete list of tariffs imposed by US President Donald Trump on Wednesday.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
The Enforcement Directorate has questioned Niranjan Hiranandani, the promoter of prominent Mumbai-based realty company Hiranandani Group, in a foreign exchange violation case, official sources said Monday. Niranjan Hiranandani and his son Darshan Hiranandani were asked to join the investigation by the central agency at its office here as part of a probe being conducted under the Foreign Exchange Management Act (FEMA).
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.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
Jamaican sprint queen Elaine Thompson-Herah romped to victory in the 200 metres and Uganda's Jacob Kiplimo held on to win the men's 5,000m to complete contrasting Commonwealth Games golden doubles at Alexander Stadium on Saturday.
Obama and his wife Michelle are enjoying their new-found freedom holidaying in the British Virgin Islands with British billionaire Sir Richard Branson. Sir Richard posted an online blog showing pictures and video of the former president kitesurfing at his private island.
Three deaths have been reported and there are fears of more fatalities.
Raninder Singh has been asked to depose at the central probe agency's office in Jalandhar on October 27, they said.
India signed a Tax Information Exchange Agreement with Bermuda on Thursday, the first in a series of such pacts.
Amid intense scrutiny from short-sellers and regulators, Adani group stocks have seen a significant shift in their shareholder base: Relatively opaque foreign portfolio investors (FPIs) have given way to more recognisable investors and broad-based funds. The list of large public shareholders - those directly holding at least 1 per cent - is now dominated by entities, such as the state-owned Life Insurance Corporation (LIC), US-based GQG Partners, Abu Dhabi-based International Holding Company, and Qatar Investment Authority's INQ Holding.
Switzerland and Caribbean islands? Sure. But Alaska and Nevada are getting in on the game.
While UBS acted as master client for offshore firms, Sharecorp was a nominee of Indian beneficiaries.
Formula One world championship leader Nico Rosberg's contract with the Mercedes team has shown up in the Panama Papers, leaked documents which reveal offshore financial dealings, German broadcaster ARD reported on Monday.
The United States has forfeited properties worth US$ 2.1 million which were allegedly purchased with the proceeds of bribes paid to the family of former Taiwanese president, Chen Shui-bian.
Britain has become the biggest foreign investor in India with an investment of 560 million, according to a report on investment flows by the Commonwealth Business Council (CBC).
With Google CEO Larry Page's wedding planned for Dec. 8, BusinessWeek takes a look at what billionaires risk when they tie the knot.
Karnataka HC seeks probe into fund diversion by United Spirits.
India, in particular, has suffered from the flow of illegal funds to tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.
The Central Bureau of Investigation will file its final chargesheet on Rs 14,000-crore (Rs 140 billion) Satyam fraud after receiving responses to the Letters of Rogatory (LoR) seeking information in this regard from six countries, Parliament was informed on Thursday.
Upaid claimed it had served requests for production of documents related to the 'now scuttled Maytas transfers on Satyam' on Friday, but now had to submit this motion to the court 'because Satyam had repeatedly resisted its efforts to depose Raju and Vadlamani in the case.' The current motion is in reply to a disparagement case that Satyam had filed against Upaid wherein the former had claimed that the payment services firm has been disparaging them in the public domain.
Most investments by Indian corporate houses in the overseas market is through countries that have either low tax rates or allow tax-free remittance of income. Much of the outward foreign direct investment (FDI) by India Inc done between April and December 2007 was directed to Singapore, the Netherlands and British Virgin Islands (BVI), according to the latest Reserve Bank of India data. RBI said the actual outward FDI in April-December 2007 grew 13 per cent at $10.11 billion.
The company will also make a $500 million (Rs 2,000 crore) investment through the acquired company in the next 2-3 years to build and acquire WiMax networks across 50 countries. Worldwide interoperability for microwave access or WiMax is a telecommunications technology that provides wireless data over long distances through various mediums. This is the third acquisition by the company as it had acquired US-based ethernet services provider Yipes Holdings for $300 million.
14-year-old squash player Anahat Singh was too good for Jada Ross of St Vincent and the Grenadines in an 11-5, 11-2, 11-0 victory in the Round of 64 women's singles competition in Birmingham on Friday.
Celestial Overseas Ventures, a British Virgin Island-based investor, plans to acquire five per cent stake in electronics major BPL Limited, thus taking up the foreign equity component in the Bangalore-based firm to 5.57 per cent.\n\n\n\n
Let's take a look at the fabulous life of the flamboyant business magnate who recently turned 63.
The Enforcement Directorate on Monday seized three offices in a prime location in Mumbai, valued more than Rs 41 crore, as part of a foreign exchange violation probe against a businessman whose name figured in the Panama Papers.
American Rai Benjamin got the track programme off to a roaring start as he stunned world record-holder Karsten Warholm in the 400 metres hurdles.
Equity inflows worth $3.7 billion came from the sunny Caribbean jurisdiction in 2019-20, a 267 per cent increase from the $1 billion registered in 2018-19 making it India's 10th largest source of FDI.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
The evacuation of coastal areas of Florida and neighboring Georgia was the biggest seen in the US in a dozen years.
Branson was cycling with his two children on the British Virgin Islands when he hit a hump in the road.
Becoming the first casualty of the Panama Papers scandale, Iceland's Prime Minister Sigmundur David Gunnlaugsson resigned on Tuesday.
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