Senior Congress leader P Chidambaram on Friday dismissed Finance Minister Arun Jaitleys' remarks that disclosure of the names of black money account holders can embarrass Congress amid speculation that the list could include a former United Progressive Alliance minister.
India Inc reacted cautiously to allegations on Swiss a/cs.
The NCP also asked the Income Tax department and the Enforcement Directorate to find out the source of "black money" involved.
Concern about corruption has moved to the centre stage and impacted business confidence and FDI flows, besides hurting the government and its image.
On November 8, 2016, Prime Minister Modi had announced the decision to withdraw Rs 500 and Rs 1,000 denomination notes with the ultimate aim of reducing corruption and black money in the economy.
Janata Party President Subramanian Swamy on Monday met Central Bureau of Investigation director and demanded registration of cases against Indians who have allegedly stashed away money in foreign banks.
'Considering that there was an estimated Rs 10 lakh crores of Indian money stolen and kept in foreign tax havens, the UPA government with one stroke of its tainted pen has granted immunity to tax-evaders who had stashed the loot in tax havens.'
The govt has framed a five-pronged strategy to fight the menace of tax evasion.
"Does that mean the Enforcement Directorate mislead Supreme court? It seems so. This is very serious. I am surprised to know about the judgment," said apex court's topnotch lawyer Harish Salve reacting to a Mumbai court's rejection to the plea by the ED seeking remand of Hasan Ali Khan for his custodial interrogation in a money laundering case.
The issue of alleged tax evasion by Indians through banks and other entities in offshore locations, specially Switzerland, has been matter of a political debate in India.
This scheme would help salaried people, especially those working in far-flung and remote areas with armed forces and para-military forces.
Modi said not a single leader of the opposition grouping INDIA has uttered a word against the "disrespect" for women.
The electoral bonds scheme for funding political parties should not become a tool for "legitimisation of quid pro quo" between power centres and people who are benefactors of that power, the Supreme Court said on Thursday as it underscored the need for reducing the cash component in the electoral process.
India and Switzerland on Monday signed the revised Double Taxation Avoidance Agreement, a move that will help the government seek details about illicit wealth allegedly stashed away by Indians in Swiss banks.
The Delhi high court on Monday dismissed a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination banknotes from circulation. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad, which had reserved its order on the PIL on May 30, rejected the plea. Petitioner Rajneesh Bhaskar Gupta has contended that the Reserve Bank of India (RBI) has no power to withdraw Rs 2,000 currency notes from circulation and only the Centre could have taken a decision in this regard.
'OTT is the future.' 'We are here to create new markets in the world, cater to international audiences.'
It claimed doctors were being paid 'for referring medical tests'.
Addressing Parliament on the first day of Budget session, President Pratibha Patil said steps have already been initiated for negotiations to enter into agreements for the exchange of information with major jurisdictions.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
The "opaque" electoral bonds scheme for funding political parties will "destroy democracy" as it promotes corruption and does not allow a level playing field between the ruling and opposition parties, the petitioners challenging the validity of the scheme told the Supreme Court, which on Tuesday observed election funding was a "complicated issue".
A public interest litigation was filed in the Delhi high court on Monday against permission to exchange Rs 2000 banknotes without obtaining any requisition slip and identity proof.
The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30. The bank notes in Rs 2,000 denomination will continue to be a legal tender, the RBI said in a statement. In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, the RBI said exchange of Rs 2,000 bank notes into bank notes of other denominations can be made up to a limit of Rs 20,000 at a time at any bank starting from May 23, 2023.
Expecting the economy to slow down in the current fiscal amid global recession, President Pratibha Patil said the new government will focus on adversely-affected sectors like infrastructure, exports, SMEs, and housing to restore the growth momentum.
Vote for the BJP if you have to, but not because they're going to bring back Rs 25,00,000 crore and use this to develop roads or provide piped water to India's villages. That's a pipe dream.
Prime Minister Manmohan Singh on Monday said the United Progressive Alliance government swung into action to unearth unaccounted Indian money lying abroad after some instances of such funds in Germany and Switzerland were brought to its notice.
'...because it is still a legal tender.'
Last month, the DRI had claimed to have busted over Rs 1,000 crore hawala racket in Punjab.
Three institutes entrusted with the task to estimate amount say data collection a hurd#8804 to submit report by December.
The communication was clear, transparent and worded in a manner that did not induce any fear in the minds of the people, point out A K Bhattacharya.
Chief Election Commissioner S Y Quraishi talks to Kavita Chowdhury on the need to speed up electoral reforms.
Tax collection at source on purchase, in cash, of bullion or jewellery in excess of Rs 2 lakh is one step announced.
The CBI director had earlier estimated blackmoney to the tune of Rs 24.5 lakh crore (around $500 billion) parked abroad but today he did not make a mention about the figure.
Sisodia was arrested Sunday over alleged irregularities in the formulation and implementation of the Delhi Excise Policy 2021-22.
Noted advocate and Bharatiya Janata Party member Ram Jethmalani on Thursday created a flutter in the Rajya Sabha when he made certain remarks against persons having money stashed away in Swiss banks.
ED has initiated action against these account holders in Mumbai, Delhi and other cities.
Proposed scheme will not provide immunity to tax defaulters.
The PMGKY will not allow declarants to use claims made for refunds for advance taxes paid, tax deducted at source and tax collected under the scheme.
Dr Subhash C Kashyap, former secretary-general of the Lok Sabha and a well-known expert on Parliamentary affairs, has been involved in fighting corruption for years. The former member of the National Commission to Review the Working of the Constitution speaks to Rediff.com's Claude Arpi about the root cause of the massive corruption permeating the Indian system and the need to find a solution.
'Quite a few notices have been issued in both black money and benami transactions.'
What is worrying analysts is that such money that flows into India seems to be the money of Indians, sent abroad first through the hawala route and then subsequently laundered abroad, especially in tax havens.
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