A Bill proposing to prosecute those stashing illicit wealth abroad with 10 year rigorous imprisonment is on cards.
Earlier this month, the CBI registered a Preliminary Enquiry against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded FTIL and MCX, among others.
'Till today, we don't know how many people died of Covid in India.' 'How many migrated from cities to villages during the Covid pandemic?' 'How many corporates contributed to PM Cares?'
When the subscriber reaches superannuation or the age of 60, 60 per cent of the total corpus accumulated in NPS can be withdrawn as a lump sum.
The Union finance ministry has asked field officers of the income tax department to not be adversarial to assessees, and to not send high-pitched demands without a proper basis.
Banks asked to maintain record of cash being ferried in these vehicles all the time
The government has sacked these officers ranging from the ranks of principal commissioner to assistant commissioner, some of whom were already under suspension.
The CBDT asks ministry of corporate affairs not to oppose its application to restore the companies struck off by the Registrar of Companies, as it would prevent the board from launching tax recovery proceedings against them.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
Taxpayers filing their I-T returns this year will now have to share their email-id and mobile phone number with the tax department.
Authorities on Saturday continued to dig up currency to the tune of lakhs of rupees, including in new notes, across the country.
It was a unique celebration; there is no other instance where Harijans were feted to celebrate India's Independence, says Prakash Bhandari.
A bench headed by Justice S H Kapadia asked the company to challenge the ruling before an appropriate high court. The apex court also stayed both the AAR order and the assessment till the company moves a high court. On May 9, the AAR said that income of Foster's Australia Ltd from the transfer of its right, title and interest in trademarks and Foster's brand intellectual property is taxable in India.
This provision is a very smart rule against fraudster and would not affect any genuine business entities or Ease of Doing Business in any manner, said a source.
"You cannot play hide and seek with the court," Justice Suresh Kait said.
Income from renting of properties is taxed at a flat rate of 10%.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
Finance Minister Arun Jaitley said political parties will be entitled to receive donations by cheque or digital mode from their donors.
Opposition parties on Sunday lashed out at the Bharatiya Janata Party after Nationalist Congress Party leader Ajit Pawar and eight others were inducted into the Eknath Shinde-led Maharashtra government, saying the ruling party's 'washing machine' has resumed its operation to clean tainted leaders and it was an 'ED-facilitated power grab'.
APAs are part of govt's aim to move to a non-adversarial tax regime.
Jaitley said note ban has compelled people to deposit money into bank accounts.
Filing with inadequate disclosure of assets will be liable for prosecution
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.
Any judgement on whether the March numbers reflect sustainable growth in GST collection should ideally await the numbers that will be out in May, points out A K Bhattacharya.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
Lalu expressed his resolve to unite the opposition against Bharatiya Janata Party in the next general election.
There may be those who could want to go slow, citing the large pendency of follow-up action and court cases that they would have to process and/or proceed with, before raiding more politicians, observes N Sathiya Moorthy.
Congress charged the entire BJP and the government with "aiding and abetting" Lalit Modi, a fugitive.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Third parties can be used to launder the proceeds of fraud schemes by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
