The passing of the GST bill and the failure of India to acquire NSG membership is set to rule the agenda in Parliament.
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in Parliament shortly.
Eleven fresh cases of stamp duty evasion have been registered by the Uttarakhand government against Ramdev's Patanjali Yogpeeth Trust, spelling more trouble for the yoga guru.
What is the wider political strategy behind Mr Modi's concerted attack on black money, asks Subir Roy.
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
Chidamabaram's counsel told the top court that he is sought by ED to be "vicariously involved" in the INX Media money laundering case as he is the father of Karti Chidambaram, who according to the probe agencies tried to influence the Foreign Investment Promotion Board members.
Accusing the Congress of putting its interests above the country's, Prime Minister Narendra Modi on Friday tore into the Oppposition, saying unlike earlier when opposition parties stalled Parliament against scams, Congress- led parties are now doing so against government's steps to curb black money and corruption.
Not quitting, says Tejashwi Yadav. Accuses Prime Minister Modi and BJP chief Amit Shah of 'conspiracy'.
'Modi has shown political courage by instituting several economic reforms which include demonetisation, ushering in GST, eradication of benami transactions...'
People elected me to fight corruption, I'm doing what they told me to do, Modi said.
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
Meanwhile, a group of college students, donning degree robes and selling 'pakodas' to passers-by in a dig at Prime Minister Narendra Modi's remarks over job creation, were on today whisked away by the police, hours before the PM's rally in Bengaluru.
'The most fundamental flaw with the electoral bond scheme is that it is designed to make anonymous donations.' 'It makes it easy for black money holders as well as corrupt corporates to donate money to the ruling party and ask for a quid pro quo without anybody getting any idea about it.'
Compliance window for those with undisclosed income abroad to come clean by paying 30 per cent tax and 30 per cent penalty
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
Sources said the government was keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30.
Politicians have continued taking people for granted and managed to stay above the law, says T N Ninan
CBI sources said the shell companies were allegedly being used by the suspects to divert loan funds meant for specified purposes, creating fake invoices, and 'round-tripping' of funds to evade taxes and generate black money.
The infighting in the AIADMK has made it weak on par with the DMK and other parties, says R Rajagopalan.
Consensus building is likely to be the biggest casualty.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
The party president also said that India's self-confidence, pride and scale of ambition have grown manifold in three years.
Searches are being conducted on Friday at 12 locations including Delhi, Patna, Ranchi, Puri and Gurgaon.
'On corruption the Yadavs of UP and Bihar will find it very tough to give an answer to the accusations of the BJP and its supporters,' says Aakar Patel.
Over lunch, Finance Minister Arun Jaitley breaks down his Budget. Sheela Bhatt/Rediff.com reports.
'The experience so far is a shocking example of how critical scheme of national importance can be brought into disrepute by inefficient and badly designed implementation,' says Dr Madhav Godbole, the former Union home secretary.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
'Challenges will come but we will stay the course. No big step can be taken if one is afraid of criticism. We will not flinch from criticism,' says Railways Minister Piyush Goyal.
Mallya is a fugitive from justice in India, Attorney General Mukul Rohatgi told the Supreme Court.
Manish Sabharwal tackles 5 criticisms of demonetisation.
Wouldn't have used 182 pages for report if there were no irregularities, said Justice Dhingra.
Before Lok Sabha and Rajya Sabha was proceedings were disrupted by a relentless Opposition over the demonetisation issue, other topics such as compensation for military personnel, counterfeit notes were spoken of. Here's what happened in Parliament.
'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
'How can you ask the common man alone to suffer when the rich is not doing any sacrifice?' 'To take out 10% of black money, you are punishing 90% of the public who have genuine white money.'
Many countries advised the return the high-denomination notes to the central bank for destruction, but these continued to be legal tender. This and the introduction of a new Rs 2,000 note in India are the two major differences between Indian demonetisation and those of other countries.
Conversion of outstandings into equity even partially should be a strict no-no says Chatered Accountant S Murlidharan
'Corruption is the tree.' 'Black money is the fruit from the tree.' 'This scheme will expose the unaccounted fruits of the tree.' 'But since the tree will continue to stand, the story will continue,' say Pramod Kumar Srivastava, Sanghamithra and Kravya.
NDA government has shunned populism.
