The Central Board of Direct Taxes (CBDT) has released a 198-page guidance note to assist crypto-asset service providers in complying with reporting obligations under the Income-tax Act, 2025, aligning India with the OECD's Crypto-Asset Reporting Framework (Carf) for automatic exchange of tax information.
Onestruction Inc and DataKaveri Systems have signed an MoU to establish a framework for strategic and technical collaboration in urban and built environment data exchange.
Legendary Brazilian captain Cafu has urged India to shed its "tiny status" mindset in football and believe in its potential for growth, offering Brazil's cooperation. He responded to Bhaichung Bhutia's concerns about an India-Brazil friendly, emphasising the importance of grassroots development and international collaboration, drawing parallels with Japan and China's success. Cafu also shared his personal journey of overcoming doubts to become a football legend.
Indian crypto exchanges and companies have expressed strong support for the Central Board of Direct Taxes' (CBDT) new Crypto Asset Reporting Framework (CARF), which mandates reporting and due-diligence obligations for crypto service providers on all transactions starting 2026.
The IndiaAI Mission, under MeitY, has selected 10 Indian AI startups for its Global Acceleration Programme, aimed at fostering international growth and innovation.
The Enforcement Directorate has launched a foreign exchange violation investigation against Vedanta Group, conducting searches at its premises in multiple locations.
Fintech unicorn Razorpay has confidentially filed draft documents with SEBI for an Initial Public Offering, with market sources estimating the issue size between Rs 5,000-6,000 crore. This move comes as a rival firm, PhonePe, has paused its IPO plans.
TEXMiN Foundation, IIT (ISM) Dhanbad has signed an agreement with the University of Pretoria, South Africa, for research collaboration in critical minerals, rare earth element processing, recycling, extraction technologies and advanced mining innovation.
The Gujarat CID Crime has dismantled an international cryptocurrency network worth Rs 226 crore, revealing links to a front organisation of the terror group Hamas. Nine individuals have been arrested in connection with the syndicate, which is implicated in cyber fraud, narcotics, and terror funding.
The International Testing Agency (ITA) has voiced concerns regarding the high rate of doping cases in India and the alleged practice of athletes receiving advance notice before testing, potentially jeopardising the nation's bid to host the 2036 Olympic Games.
The Enforcement Directorate (ED) reports a decline in traditional financial crimes due to sustained investigative actions and government initiatives, while highlighting emerging challenges like cryptocurrency fraud and terror financing.
Coal and Mines Minister G Kishan Reddy announced that seven coal gasification projects will be established in Maharashtra, Odisha, and West Bengal with a Rs 64,000 crore investment, aiming to reduce India's reliance on energy imports.
Switzerland has been perceived for long as a safe haven for alleged illicit funds or black money
In a major development in the fight against black money, multilateral grouping OECD today unveiled a 'single global standard' for automatic exchange of financial account information by various countries including India and Switzerland.
Wipro has announced the launch of a dedicated AI-Native Business and Platforms unit, leading to a leadership shuffle with Nagendra Bandaru appointed as CEO and Kanwar Singh joining as President and Managing Partner of Technology Services GBL.
Researchers at CSIR-NCL have developed a technology for producing dimethyl ether (DME) as an alternative to liquefied petroleum gas (LPG), potentially reducing India's reliance on imports and enhancing energy security.
Pakistani Prime Minister Shehbaz Sharif has briefed Saudi Crown Prince Mohammad bin Salman on Pakistan's diplomatic efforts to de-escalate the situation in West Asia. This follows Pakistan's offer to host talks between the US and Iran to resolve the ongoing conflict.
The Swiss Finance Ministry spokesperson recently confirmed that a meeting is expected in the coming weeks, but did not disclose any further details.
The Enforcement Directorate has filed a chargesheet against former Reliance Communications president Punit Garg and another individual in connection with a money laundering probe linked to an alleged Rs 40,000 crore bank loan fraud.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
The intriguing bit is that Trump is likely to attend the talks in Islamabad this weekend -- if he does, it will be the clearest signal yet that the US is ready to exit the war with some sort of win to show, since he cannot afford to go for the talks and return empty-handed, notes Prem Panicker in his must read blog on the Iran War
There have been concerns in India about limited flow of tax information from Switzerland about Indian citizens, who have allegedly stashed away unaccounted money in Swiss banks.
'Uncertainty level A in the morning, uncertainty level B in the afternoon. If I answer about tariff rates now, I'll be outdated by the evening.'
The details that have been shared include identification, account and financial information, including name, address, country of residence and tax identification number, as well as information concerning the reporting financial institution, account balance and capital income.
The issue of black money has been a matter of great debate in India and Switzerland has been long perceived as one of the safest havens for the illicit wealth
The CBDT is investigating Jane Street for possibly misusing the India-Singapore tax treaty.
In September last year, India received financial information from over 108 countries regarding foreign accounts and income in the form of interest and dividend earned outside India.
'Visualise those 15 to 18 seconds: Fully loaded aircraft, pilot manually controlling with both hands (no autopilot immediately after takeoff), looking forward while switches are behind.'
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
G20 summit noticeably lacked in responses to illicit financial flows, one of the largest drags on development worldwide
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
'Could the impending new crisis, vibe coding, similarly create not a disaster like what befell Indian handlooms during the Industrial Revolution but another opportunity like what the Y2K crisis created?' asks Ajit Balakrishnan.
China became the 56th signatory to the agreement by signing the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. With this all the G20 nations, including India, have become official partners to combat the menace of tax crimes and evasion across international borders.
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
India and a large number of other countries, including Switzerland, have adopted a global declaration for automatic exchange of tax information under auspices of OECD.
Experts of both the countries will meet by mid-September 2016 to further discuss the modalities for the reciprocal bilateral implementation of AEOI between India and Switzerland with a view to reaching an agreement at the earliest, possibly by the end of the year
Occasionally, a whistle-blower releases sensitive financial data.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
India and Singapore had in 2013 amended the DTAA to help exchange banking and tax-related information more effectively.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
