Trading of diamonds especially with a gulf country has come under the lens of intelligence agencies here for suspected terror financing and money laundering.
This could fundamentally transform the industry that had been a major source of employment in countries like India and the Philippines.
Patanjali Foods has been served a show cause notice by the GST intelligence department, asking the company to explain why input tax credit worth Rs 27.46 crore should not be recovered from it. The yoga guru Ramdev-led Patanjali Ayurved Group firm, which is mainly into the edible oil business, has received the notice from the Directorate General of GST Intelligence, Chandigarh Zonal Unit, according to a regulatory filing made by the company on April 26.
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
The Central Economic Intelligence Bureau, lead agency under Finance Ministry to gather and disseminate intelligence related to financial crimes, has traced illegal flow of money through Private Placement Programme, which involves offering of securities to select individuals or groups, upto 50 in numbers, official sources said.
'If you want to have fair elections you should have an officer, who is appointed as per the rules laid down for such appointments, which is based on seniority.'
Irani said the show of strength by the Congress is aimed at putting pressure on the probe agency, and asserted that nobody is above the law "even Rahul Gandhi".
Coal-to-airports conglomerate Adani group is set to make a splash in the tech world. The group is considering the creation of customised artificial intelligence (AI) models for commercial prospects and consolidating digital services on a super app, according to people in the know. The Adani One app, part of its consumer-facing businesses, is reportedly in talks to expand into e-commerce and digital payments, according to a Financial Times report.
'While on the one hand, terrorism continues to be a serious threat to global peace and security, on the other hand, areas such as cyber, maritime and space, are emerging as new theatres of conflict'
The Directorate of Revenue Intelligence, the lead agency to check customs frauds and smuggling, has decided to post officers at India's Mission in New York (US), Singapore, Brussels (Belgium) and in Nepal's Birgunj.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
'It came out of China and it could have been stopped and I wish they had stopped it and so does the whole world wish they had stopped it'
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
CEC Sunil Arora will meet former heads of Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs on Friday to discuss ways to keep a check on black money disbursements in South India, especially Tamil Nadu.
More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
'If a citizen of ours has done anything good or bad, we are ready to look into it. Our commitment is to the rule of law.'
The telecom ministry will set up an intelligence unit and a consumer protection system as part of continuing efforts to tackle the menace of pesky calls as well as to take strict action against financial frauds perpetrated using telecom resources.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
While it's important to work towards saving your marriage, you must also be willing to accept that the outcome may not be what you hope for, says Dr Ashish Sehgal.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
'When I started to step into the West in 2006, I believed India was not going to be the back end.' 'I understood that no film-maker wants to believe that they are outsourcing their creativity to a low-end place.' 'The application of technology in the hands of our Indian artistes is identical to any of our artists in the West.' 'Nobody in the world can say this shot was done in India and that in London.'
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
The construction of a Bailey bridge to connect the landslide-hit areas, where several people are believed to be stranded, alongside the deployment of sniffer dogs and over 1,000 rescuers from Central and state emergency response teams conducting massive search operations, constitutes one of the largest rescue efforts in the Wayanad, devastated by a deadly calamity.
The foreign agency has claimed four accounts held by the Jindals.
'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.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
A special task force which would comprise the Financial Intelligence Wing, enforcement directorate, directorate of Revenue Intelligence and the Income Tax department, has been set up for the purpose.
The quizzing of the 48-year-old daughter-in-law of superstar Amitabh Bachchan and Samajwadi Party MP Jaya Bachchan comes weeks after her husband Abhishek Bachchan was questioned by the agency in another case emerging from the same set of papers linked to the offshore leaks case, they said.
Do not, however, enter expecting quick returns.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
A CBTR pertains to transfer of funds through various channels abroad.
'The jungles of Doda covers about 250 km.' 'Sleeper cells are providing active help to the terrorists.' 'The terrain and situation is such that it is not possible to keep track of every inch.'
To curb the menace of illicit fund flows, the government has set up a high level panel that will look into trade-based money laundering activities which particularly involve manipulation of invoices.
The two-wheeler segment is, however, still far from its H1FY19 peak of 9.7 million units
Municipal corporations penalise late property tax payments. 'Penalties can include attachment of properties, bank accounts, rent and other movable assets," says Anand Moorthy, co-founder, Square Yards.
These entities have facilitated illicit transactions worth thousands of crores of rupees over the past 2-3 years
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