The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
A united opposition is all set to corner the government in Parliament today on the banning of old notes.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
France summoned the US ambassador to the Foreign Ministry today following revelations by WikiLeaks that the US National Security Agency eavesdropped on the past three French presidents. The NSA eavesdropped on the last three French presidents - Francois Hollande, Nicolas Sarkozy and Jacques Chirac between 2006-12.
Amid the charges and counter-charges over the AgustaWestland issue, the Congress on Friday accused the Modi government of "working overtime" tapping the phones of opposition, civil servants and judges.
It remains to be seen whether India are able to add 'another sweetest victory' or if the visitors spoil their party.
In fact, the Taliban apparently collects about 10 per cent as cultivation tax from opium farmers and 15 per cent as heroin tax from laboratories and smugglers that smuggle narcotics into Pakistan. This, by itself, is a revenue stream estimated at USD 250-300 million.
Having outsmarted England in challenging conditions, a confident India will back themselves to win the series-decider in Ahmedabad on Saturday and take another firm step towards finalising their core for the T20 World Cup.
England batter Liam Livingstone fetched a staggering Rs 11.50 crore deal from Punjab Kings, who also roped in West Indies fast bowler Odean Smith, for Rs 6 crore, on Sunday, Day 2 of the TATA Indian Premier League 2022 Player Auction, in Bengaluru.
Trump claimed Clinton allowed uranium to go to Russia while she was secretary of state.
A much stronger focus was required on irrigation and water management. The FM merely acknowledged that it was a problem.
South Africa fast bowler Lonwabo Tsotsobe is reportedly under investigation in a match-fixing case that has already seen one of the country's former international players banned for 20 years. Tsotsobe told the Wisden India website on Thursday that he had handed over his bank account and cellphone records after being asked for them by national federation Cricket South Africa. Former South Africa limited-overs batsman Gulam Bodi wa banned last month after admitting he conspired to recruit players to fix matches, or parts of matches, in South Africa's domestic Twenty20 league last year.
In its first press meet ever since the second phase of the budget session began in the Parliament a few days ago, Team Anna on Thursday laid out how it plans to exert pressure for a strong and independent Jan Lokpal Bill.
Lokayukta sources said much of the findings are already in the public domain as the report was leaked.
Even if Anna Hazare's protest is not an enduring solution, it would most certainly be a brake on the incorrigibility of the political and bureaucratic class, says Mahesh Vijapurkar.
The Indian team may look to revisit its 50-over template while picking up pieces from the thrashing in the second match as they aim to complete a hat-trick of series wins against England in the third and final ODI, in Pune, on Sunday.
Allegations are flying thick and fast, from harassment, pressure on employees to sell their stocks in the firm, to not one but two extortion calls.
"What the RTI Act did was to make available to citizens any information that could be provided, that the government was obliged to provide to a Member of Parliament (MP). In theory, that channel remains open to us," says prominent economist and RTI activist Reetika Khera about how Indian citizens could still have access to information that they want
'One hopes to make a positive difference with the guidance and support of respected minds.'
Facebook and Twitter now restrict users below the age of 13 from signing up on their platforms. LinkedIn doesn't provide its services to children below the age of 16.
The Democratic convention to anoint Hillary Clinton as the presidential nominee and make her the first woman flagbearer of any major American political party began on Monday.
Software giant Microsoft is expected to provide a technical preview of its new Windows 9 operating system at an event in San Francisco later this month.
Sellers downloading their monthly financial reports were served with those of other vendors, leading to a breach of competitive businesses data.
While noting there needed to be a balance between the two fundamental rights, the Srikrishna panel stated there was an inherent conflict. "However, disclosure of information from public authorities may lead to private harms being caused. It is thus important to recognise that, in this context, there is a conflict of fundamental rights, between transparency and privacy," the report stated.
Even as the government considers a new Bill to make the Indian Institutes of Management answerable to the Parliament, it appears the IIMs - considered home to some of the best brains in the country - have shifted from being seats of learning to seats
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
'This government puts poor people behind bars, demonises women after their death, puts out the call records of deceased raped victims and robs her of her dignity.'
The war between hackers and banks over ATM security will be dynamically redefined, notes Atanu Biswas.
Asserting that the government has launched a "crusade" against corruption and black money by demonetisation, Prime Minister Narendra Modi on Tuesday sought opposition's cooperation while his rivals called the decision ill-prepared and hasty, causing "economic chaos".
'The striking down of the use of Aadhaar by private companies implicitly calls for the deletion or erasure of all personal data vested in the servers of the private service providers.'
From Dwight D Eisenhower to Bill Clinton, many American presidents have made sure they're photographed against the backdrop of the Taj. And, now the monument is ready to impress Trump for that family frame. Well, almost ready, reports Shreya Jai.
The 3-0 series win against the West Indies could be called a precursor and the real battle begins now against Quinton de Kock's Proteas who are also in the midst of a tough transition.
On Mark Zuckerberg's Pinterest, the new title was "Hacked by OurMine Team."
India does not have a stringent privacy or data protection Act.
Both protesters and the authorities in Hong Kong are using complex combinations of technology, reports Devangshu Datta.
Rescuers on Friday pulled out another body from the rubble of two flattened Manhattan apartment buildings in New York city as the death toll rose to eight.
Sikhs across the UK will no longer face the prospect of disciplinary action for wearing turbans in workplaces after new rules come into force on Thursday.
On all key issues, Congress is MIA, sighs Shekhar Gupta.
On a roll after five wins on the trot, table toppers Mumbai Indians will look to continue their domination when they clash with struggling Delhi Daredevils in an Indian Premier League game, in Mumbai, on Saturday.
'There must be thousands if not lakhs of people the government is illegally spying on.' 'Why should we enable this criminal activity by volunteering our details?'
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