The Supreme Court appointed Special Investigative Team, which is looking into the black money cases, on Thursday said it will go after the offenders "big or small" but also made it clear that the confidentiality of account holders abroad will not be violated.
'The greater the delay, the more the likelihood of crucial evidence being destroyed.'
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
The SIT on black money on Tuesday sought update from multiple probe agencies on the role of Lalit Modi in alleged financial irregularities in the T-20 cricket tournament.
The plea, filed by advocate Manohar Lal Sharma, termed the notification "illegal, unconstitutional and ultra vires to the law".
A BTech and PhD in police, human rights and social justice, Singh joined the federal anti-money laundering investigations agency in 2009 on deputation from Uttar Pradesh where he was serving as a state police service officer.
This, Byju, was the time to apply the business lens, treat your company as a business, run your company as a business. Instead, you splurged, observes Suveen Sinha.
The Director General of Goods and Services Tax Intelligence (DGGI) has slapped its heftiest tax notice of Rs 21,000 crore on Bengaluru-based Gameskraft Technology (GTPL) for allegedly evading GST on the betting amount. Gameskraft has dubbed the notice a "departure from the well-established law of the land". The company is accused of promoting online betting through card, casual and fantasy games like Rummy Culture, Gamezy and Rummy Time.
The Centre has refused to share copies of reports sent to it by the Uttar Pradesh governor and the government on Muzaffarnagar communal violence, saying it would impede probe, apprehension and prosecution of offenders.
The one-member commission of inquiry under former solicitor general Gopal Subramanium will probe the alleged irregularities in DDCA.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
Economic stagnation is the advance payment for polarisation, which extracts a terrible price.
The intelligence wing of Central Board of Excise and Customs has 532 officers and staff, he said, adding, the staff strength of DRI will double when cadre review is completely rolled out.
Kejriwal claimed that the action amounts to 'unjustified interference' as the inquiry is 'perfectly' legal and Union minister Arun Jaitley should cooperate with the inquiry commission and stop 'misusing' the LG office.
market, was today seized from an illegal drug manufacturing unit in Jalgaon district in north Maharashtra and six persons were arrested, Directorate of Revenue Intelligence officials said.
HP has been charged with underpaying customs duties while importing products and spare parts.
The Central Bureau of Investigation (CBI) had told the finance ministry some "well-known" companies in the power, oil, and telecommunications sectors were involved in round-trip trading by indulging in third-party transfers in violation of law.
Bishnoi is alleged to be the kingpin of a global syndicate involved in smuggling of fire arms and wildlife.
Huge margins, high custom duty and increasing demand among youngsters have led to exponential increase in smuggling of foreign cigarettes.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Besides Aryan Khan, the arrested accused are identified as Munmun Dhamecha, Arbaaz Merchant, Ismeet Singh, Mohak Jaswal, Gomit Chopra, Nupur Sarika, and Vikrant Chhokar.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
'Once you are in their system, they finish you with the never-ending processes.' 'Once your family member is arrested, you are just running between lawyers, courts and the jail.' 'The process to prove that you are innocent drains you to such an extent that you are finished.'
The vice chairman said they have asked agencies like the ED, IT to make an assessment of the list and prepare a report in this regard.
In the Anti Money Laundering (AML) Basel Index 2013 India has been ranked 93rd and 70th in 2012 and 2013 respectively out of 140 countries.
The parties, including the Communist Party of India-Marxist, the Samajwadi Party, the Rashtriya Janata Dal and the Trinamool Congress, said they will collectively oppose the Union home ministry's order issued on Thursday.
Of the 23 companies, eight have raised funds after Shark Tank India.
The Ministry of Home Affairs amended its guidelines on October 12 to include the chairman, managing director or chief executive officer of each public sector bank on the list of authorities who can issue requests for opening look-out circulars against whom an FIR is yet to be filed.
In a letter written by Director General of DRI Najeeb Shah, Air India has been asked to sanitise its staff, especially those involved in ground-handling duties, official sources said.
The advent of internet of things, blockchain, data analytics, artificial intelligence, and self-driving cars has also created huge business opportunities for online training platforms such as Udacity and Coursera.
A high power committee comprising heads of various probe agencies and specialised departments has been constituted to monitor the investigation and steps taken to bring back black money stashed in foreign banks, Government told the Supreme Court on Monday.
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
'With the top court's judgment declaring the Right to Privacy a Fundamental Right, the powers under the provision need to be looked afresh.' 'To utilise such sweeping powers in the right manner will also be a challenge.'
The first high-level meeting of the Special Investigation Team on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians has been advanced and will now be held on June 2.
The case goes back to 2014, where the diamond merchant had pleaded guilty, though indirectly, for mis-declaration of exports of diamonds.
'The number of STRs received in 2016-17 is 4,73,006 which is more than four times as compared to 2015-16 and this increase is attributed to demonetisaton exercise...,' the Financial Intelligence Unit's report has said.
Import of jewellery from Hong Kong attracts no duty in India, due to a free trade agreement.
The crime branch has so far arrested 12 persons, including Republic TV's distribution head and owners of two other channels, in connection with the case.
Venture Intelligence data shows that during January to July 2020, investors infused $998 million in 31 deals. The total number of deals reported in 2019 was 42 worth $404 million.
TCS plans to build ignio as a standalone company.
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