A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
The SIT on black money has widened its probe.
The Delhi high court on Monday allowed journalist Rana Ayyub to travel abroad while questioning the Enforcement Directorate over a Look Out Circular (LOC) issued against her barring her from travelling abroad.
National Disaster Management Authority had in 2016 suggested assistance offered as a goodwill gesture 'may' be accepted.
India's foreign exchange reserves are at an all-time high.
Clever wordplay does not change the fact that the government is going pretty easy on some tax offenders, says Arup Roychoudhury.
The approvals would be handled independently by administrative ministries of different sectors.
They were released from police custody on Wednesday after being questioned about their foreign exchange dealings.
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their "financial transactions" such as operating and managing their client firms and trusts, and buying and selling business entities. The Union finance ministry issued a gazette notification on this on Wednesday. Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Charging NGOs like Greenpeace with violating Indian laws, the RSS on Sunday called US as "the global police of democracy" and questioned its defence of the two organisations.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
Andhra Pradesh secondary education minister K Parthasarathy was on Wednesday sentenced to two months' simple imprisonment by a court in Hyderabad in a 13-year-old case of Foreign Exchange Regulation Act violation.
"If the government wishes to target me, they should do so directly, not harass friends of my son who carry on their own businesses and have nothing to do with politics," he said in a statement shortly after reports of IT and ED searches on some premises connected with Karti's friends.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
Bhargavi Zaveri & Radhika Pandey explains how complexities of foreign exchange rules are used by India Inc to dispute contractual obligations.
RBI has cited "legal impediments" in sharing the reports.
The two former partners own about 100 such properties; expansion of Best Price, EasyDay stores only after transactions linked to the split are over.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
Five army personnel were killed and six injured on Monday when terrorists ambushed their vehicle in the remote Machedi area of Jammu and Kashmir's Kathua district, officials said.
The dealers operating in the space have jumped nearly three times over the past two years.
The MHA said all the "glossy statements" about humanitarian work and speaking truth to power are nothing but a "ploy to divert attention" from their activities which were in clear contravention of laid down Indian laws.
The Maoists have warned that if the government does not stop unfairly targeting them and charging false cases against them, what happened in Kochi at the Jehovah's Witnesses convention can be expected during the 'Hamas rally of fake comrades' in the district, an official said.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The amounts were transferred from HDFC Bank to BoB.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
The group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
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.
It is hard enough to make a profit in e-commerce without having to deal with excessive paperwork, legal fees and the constant threat of harassment by revenue officials.
Who invested how much into Flipkart in its latest round of $1 billion funding? Vicky Nanjappa/Rediff.com finds out.
Tax evasion needs to be made a serious 'criminal offence' to force foreign countries to reveal names and account details of Indians stashing illicit wealth abroad, the Special Investigation Team on black money has said.
Underscoring the need to boost the start-up ecosystem, the Reserve Bank on Tuesday said it will simplify rules and regulations which impede their growth and ensure that an entrepreneur does not have to run from "pillar to post" to start a business.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
Here's a closer look at the showcause notices issued to Lalit Modi
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
The issue will now have to be resolved through arbitration.
The new system would be especially beneficial for Qualified Foreign Investors.
