The income-tax department has created various functionalities under its Project Insight, which will provide the 360-degree profile of taxpayers, including new and non-filers to gauge their accountability and tax liability. The tax department had on March 15 put out instructions for tax officials for accessing the insight.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
The supply chain for fast-moving consumer goods (FMCG) companies is seeing congestion due to persistently low demand. This has led to an increase in inventory days, with stocks accumulating at distributors and compelling them to extend higher credit periods to retailers. Distributors, Business Standard spoke to, revealed that demand inventory days have more than doubled in some cases, forcing them to offer credit terms as long as 45 days to retailers, as consumer offtake continues to face pressure.
The case of alleged bribery of Syndicate Bank Chairman-cum-Managing Director S K Jain may come up for discussion in the meeting of Special Investigation Team on black money, as it is a "classic" case of how proceeds of corruption were transferred through hawala channels.
'Whatever ED officers do -- issue summons, conduct searches or arrest a person -- they have to face the courts.'
Organizations operating in multiple geographies, legal environments and cultures face a complex set of challenges and risks as they develop their business.
Hinduja Group's business process management entity, Hinduja Global Solutions Limited (HGS) said on Wednesday that it has entered into definitive agreements to divest its Healthcare Services business to funds affiliated with Baring Private Equity Asia (BPEA), at an enterprise value of $1.2 bilion. The deal is subject to closing adjustments, and is expected to complete within 90 days, subject to shareholder and other regulatory approvals. "The cash that will come in as a result of this transaction will be deployed to growing the business as well as looking at buying some capabilities...where capabilities are important for being able to do a good job of customer experience transformation.
Deveshwar wondered whether the countries FUNDING the anti-smoking NGOs had pictorial warnings.
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.
There is no doubt that competition is increasing the world over, but there are cities that are more competitive than others.
Long accused of being a route for avoiding taxes for foreign investments into India, Mauritius says it has put additional safeguards in place to thwart such wrong perceptions and to boost its image as a preferred global financial centre.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
The plunging global economy is an even bigger threat to the United States' national security than the al Qaeda terrorist network or proliferation of weapons of mass destruction, according to America's new intelligence czar.Traditionally, US intelligence chiefs always preface their opening remarks with either terrorist or nuclear proliferation threats, but DenisBlair's first sentences in his testimony before the US Senate Select Committee on Intelligence was about the economy.
The cards should be issued strictly for use in India and transactions settled in Indian rupee.
As per the worldwide 'cost of living' survey by Economist Intelligence Unit, Mumbai is the second least expensive city globally, while New Delhi is ranked fourth.
Financial planner Gaurav Mashruwala helps a young Get Ahead reader get financially set for the future.
The Income Tax department has sent a detailed questionnaire to about 50 individuals and entities figuring in the list of those allegedly holding offshore assets in tax havens.
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.
Pakistani Taliban's Sindh unit, which had penetrated into various departments of the provincial government, was involved in a foiled terror attack at a Naval dockyard in Karachi in the country's financial capital.
In a full-page coverage inside The Washington Post, the paper notes 'In Prime Minister's address before Congress, Modi puts his focus on growth.'
"We call on Pakistan to stop cleansing their own minorities including Hindus, Christians, Sikhs, Buddhists and others," Bhat said.
India ranks number one among all countries in respect of both the inflow and outflow of expatriate executives, according to a survey of global firms conducted by leading financial journal The Economist.
China and India are Asia's top two targets for merger and acquisitions in the financial services space.
Despite summons, Republic TV's chief financial officer (CFO) did not appear before the Mumbai police on Saturday to record his statement in connection with the TRP manipulation racket, saying the channel has approached the Supreme Court in the case, a senior official said.
What can be the easiest and best way to know a company inside out? Those saying 'befriending the company's Chief Executive Officer' might be in for a shock as a survey has found that most CEOs are in the dark about the health of their companies.
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
The military establishment is in no mood to forgive or forget Imran's anti-military utterances, observes Rana Banerji, who headed the Pakistan desk at RAW, India's external intelligence agency.
Expanding investigation into allegedly wrongful claims of input tax credit by insurance companies, the tax authorities are probing a section of automobile dealers who have supposedly generated fake invoices without providing any service, which is a punishable offence under goods and services tax (GST) law. The authorities are learnt to have questioned the car dealers to explain the services they provided general insurance companies. The investigators suspect car dealers pitched for insurance schemes that give them commissions in excess of those insurance regulations permit.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
Munir was among those in Pakistan who oversaw the 2019 Pulwama terror attack, according to Tilak Devasher, a member of the National Security Advisory Board (NSAB) and who retired as Special Secretary, Cabinet Secretariat.
PAN could be used by the probe agencies.
Jiomart B2B is the latest among organised supply-chain companies to bite the bullet, shutting down its warehouses, and asking its employees to leave. Why are companies finding it difficult to sustain the supply-chain business? Experts point out that gross margins in supplying fast-moving consumer goods (FMCGs) are very low.
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
The most serious recommendations to change the financial year came in the years preceded by deficient rainfall. The Jha committee was formed after droughts in 1979-80 and 1982-83, reports Rishika Pardikar/IndiaSpend.
'The entire idea behind the serial bomb blasts was to strike fear in the minds of Indians.' 'I don't think the blasts were targeted to derail the Indian economy; the idea behind the blasts was retribution.'
Auto Expo 2023 may not trigger a fresh rally in automobile stocks, say analysts, as this year's edition lacks participation from major listed players. It is also owing to the focus on electric vehicles (EVs), a segment where four-wheelers have minuscule market share. "In the passenger vehicles (PV) segment, Maruti Suzuki India and Tata Motors are the only listed players.
Official talks were held between Modi and Seikh Tamim for multi-sectoral partnership and strengthening of Indo-Qatar ties following which the agreements and Memorandums of Understanding were signed on the second day of the Prime Minister's visit.
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.
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 will be held in New Delhi on Monday.
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