If India was able to provide additional and new information about people and entities that figure on stolen lists, they may consider it to exchange information
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
With the Swiss government showing eagerness to help India trace suspected black money hoarders, banks based in Switzerland appear to be losing traction among the wealthy Indian clients and could not get much business commitments during the just-ended WEF summit.
Marking the end of strict banking secrecy practices, Switzerland earlier this month agreed to automatic exchange of information and mutual administrative assistance in tax matters with overseas authorities.
In the new Parliament House, with a soft launch this Winter Session, paper is expected to disappear. For the guidance of ministers, secretaries can scribble notes on linked pads even from their offices to respond to queries from members.
While Airtel has hiked the limit to 100 per cent in principle, the company needs to address some issues on overseas investment limits in subsidiaries, before the changes come into effect. Until then, the cap on foreign ownership will remain at 49 per cent under the automatic route.
The Indian money in Swiss banks had fallen by 45 per cent in 2016, marking their biggest ever yearly plunge, to CHF 676 million (about Rs 4,500 crore) -- the lowest ever since the European nation began making the data public in 1987.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
Acknowledging that effective taxation of mobile income is a key challenge, G20 leaders including Prime Minister Manmohan Singh on Friday vowed to take steps to change rules to tackle tax avoidance, harmful practices and aggressive tax planning.
Sri Lanka's main Opposition parties on Sunday agreed to form an all-party interim government after the anticipated resignation of President Gotabaya Rajapaksa on Wednesday, following unprecedented political turmoil that forced him and Prime Minister Ranil Wickremesinghe to offer their resignations over the mishandling of the nation's crippling economic crisis.
Modi on Saturday embarked on a five-nation visit to Afghanistan, Qatar, Switzerland, the US and Mexico focus of which will be to enhance India's engagement in areas of trade, energy and security, besides pushing for its membership of the Nuclear Suppliers Group.
Earlier, the Reserve Bank of India was the approving authority.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
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There is no mechanism to ensure that the customer gets his money back and nor are there any guidelines or rules to protect the customer from this problem
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Gunmen armed with rifles opened fire in six different locations in central Vienna on the city's final night before coronavirus lockdown on Monday.
'After he had exposed the Narcotics Bureau's wrongdoings, he threatened to expose the Enforcement Directorate as well.' 'So they are trying to rake up an old legal deal, distorting information and using the PMLA which did not even exist at that time.'
In one of the worst school shootings in American history, an 18-year-old gunman has killed 21 people, including 19 children, and two adults at an elementary school in Texas state, with an emotional President Joe Biden urging lawmakers to 'turn this pain into action' to control the powerful gun lobby.
Amar Dubey, who carried a reward of Rs 25,000, was killed in an encounter in Maudaha village in Hamirpur district.
Rejecting the charge that the National Democratic Alliance has done a U-turn on disclosure of names of black money holders, Finance Minister Arun Jaitley has said the government will not be pushed into an act of adventurism and jeopardise the chances of getting cooperation of other countries in future.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single member bench, according to sources.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
As probe into suspected black money stashed abroad by Indians gathers steam, banks in Switzerland are running from pillar to post to safeguard their interest.
The government may on Monday file an additional affidavit in the Supreme Court over the black money issue, stating clarification on its earlier stand of not revealing the names of those account holders who have deposited money in foreign banks.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
A stream of people, including those from Rajasthan and Karnataka, walked into the only designated office before the closure of the one-time compliance window.
'Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.'
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
Modi is likely to seek support of Switzerland and Mexico for India's membership of the 48-member Nuclear Suppliers Group as both these countries are key members of the elite group. The issue is likely to figure during Modi's meeting with Obama in Washington.
India's plans to relax foreign direct investment (FDI) rules across a broad spectrum of industries have received the final approval from the Cabinet Committee of Economic Affairs (CCEA).
Delhi brokers under SEBI's glare for drawing investors through ads promising unrealistic returns.
The funds officially held by Indians with banks in Switzerland now accounts for only 0.07 per cent of the total funds kept by all foreign clients in the Swiss banking system.
Records of millions of car owners are mined to generate leads, pitch sales and get feedback to develop vehicles, says Ajay Modi.
With the signing of the pact, the Quad grouping of India, Japan, Australia and the US is set to gain more heft now, notes Dr Rajaram Panda.
Tokenisation acts as an additional layer of security as it masks sensitive card data such as the 16-digit account number, expiry date and security code. However, the security level of the app and the customer's mobile itself also needs to be taken into consideration, say experts. Nikhat Hetavkar explains the whole idea of tokenisation, how it is enabled, its impact on card transactions and related security guidelines.
Maruti Suzuki is offering cash discounts ranging from Rs 5,000 on its hatchback Celerio to Rs 35,000 on entry level Alto800.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
