The Bill could be referred to the Parliamentary Committee for scrutiny
The Supreme Court of India on Wednesday said the problem with electoral bonds scheme is that it provides for "selective anonymity" and "selective confidentiality" as the details are available with the State Bank of India (SBI) and can also be accessed by the law enforcement agencies.
After resisting for more than three years, the Centre on Tuesday revealed names of 18 persons in the Supreme Court who allegedly stashed black money with the LST bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
This election will be remembered for being the first election where the Election Commission failed to take action on gross violations involving the ruling party that repeatedly used religion, communal slurs, lies and undocumented allegations, observes Ramesh Menon.
Non-reporting of overseas income by employers may be categorised as 'abetment' under the Act.
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
Prime Minister Narendra Modi on Wednesday said in his third tenure as PM, he will take the country among the top three economies in the world.
The jury is still out on the decision to demonetise high value currency notes on November 8, 2016, with the government claiming it has helped greater formalisation of the economy while critics saying it has failed to curb black money and reduce dependence on cash. On November 8, six years ago, Prime Minister Narendra Modi had announced the demonetisation of old Rs 1,000 and Rs 500 banknotes and one of the key objectives of the unprecedented decision was to promote digital payments and curb black money, besides eliminating terror funding. As per a Reserve Bank data, currency with the public has jumped to a new high of Rs 30.88 lakh crore an October 21, indicating that cash usage is still substantial even six years after the demonetisation move.
As the raids were completed, the I-T team took two managers of the distillery located at Sutapada to an unknown location for interrogation, they said.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
"Mr Robert Vadra not only renovated the aforesaid property at 12 Bryanston Square, London through Sumit Chadha but also stayed in the same," it said.
"But the BJP wants it to be done after Lok Sabha elections. The tenure of this Lok Sabha will end on 16th June and SBI wants to share the data by 30th June," Kharge said.
While posting the matter on April 29, the bench asked the Solicitor General to take proper instruction from the Revenue Secretary and also respond "What prevented them (Centre) to comply with the directions."
The complaint against CM's son Vaibhav Gehlot and a man described as the younger Gehlot's business associate seeks action under the Prevention of Money Laundering Act.
'Then why should people like us face this inconvenience?'
"This is the matter of executive policy decision," the bench said while dismissing the appeal.
Briefing reporters, Nadda said his party has proposed that if holding the three-tier polls together was not possible immediately, then Lok Sabha and assembly elections can be held together first.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
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.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, declined by 11 per cent in 2022 to 3.42 billion Swiss francs (nearly Rs 30,000 crore), annual data from Switzerland's central bank showed on Thursday.
Leaders of several opposition parties on Thursday hailed the Supreme Court verdict striking down the electoral bonds scheme and termed it an important step in ensuring transparency in electoral funding.
Tax department has launched 60 prosecutions.
The Bombay high court on Monday directed the Income Tax department not to take any coercive action against Reliance Group chairman Anil Ambani till November 17 on a show cause notice issued to him seeking to prosecute him under the Black Money Act. The I-T department had issued the notice to Ambani on August 8, 2022 for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts. The department has charged Ambani (63) with "wilful" evasion, saying he "intentionally" did not disclose his foreign bank account details and financial interests to Indian tax authorities.
There is a clever modus operandi to keep the identity of the stash holder under wraps.
Black money Bill: Govt may widen disclosure window to 3-6 months.
When the Chair asked Chowdhury to raise a point of order, Goyal stood up and said that he would not allow the Congress leader to speak in protest against the disruption of the external affairs minister's statement earlier in the day on India's foreign engagements since the Budget session.
The Delhi high court on Monday refused to quash an Enforcement Directorate money laundering case against media baron Raghav Bahl, saying the plea was "premature".
2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables, asserts Prem Panicker.
Amid some Indian National Developmental Inclusive Alliance (INDIA) constituents switching sides to the National Democratic Alliance, Congress leader Sachin Pilot on Sunday said the opposition alliance is 'strong' and the Bharatiya Janata Party is attempting a 'frantic rejig' of the political landscape as it is worried over the collective strength of the coalition.
Gandhi claimed that Dalits, tribals, and Other Backward Classes were made bonded labourers and their participation was lacking in big companies, hospitals, schools, colleges and courts.
Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
Switzerland says it is not a tax haven.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
'My suspicion is that most of the bonds were given by companies who had got contracts or who had benefited from policy changes by the government.'
The income tax department has sought to prosecute Reliance Group chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
Image used for representational purpose only. Photograph: Jayanta Dey/Reuters The Congress also said demonetisation has come a full circle and added that the Rs 2,000 note was a "band-aid to cover up the foolish decision of demonetising" Rs 500 and Rs 1,000 notes.
Mauritius is back in the news, and as usual not for the right reasons.
'It's not really going to bring about purity in the election process.'
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