For 2011-12, there were 7,56,741 foreign remittances made from India with money worth Rs 3,56,461 crore (Rs 3,564.61 billion) going out of India
In 2008, Josephine Bhasin's bank accounts at HSBC India were valued at $8.3 million.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
I-T sleuths are raiding 130 premises of the business houses in the cities of Chennai, Hyderabad, Thrissur and other locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, I-T sources said.
The SIT will ask the RBI for transaction details over 15 years
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
Once again, tax demands on foreign investors cause worry.
The Enforcement Directorate (ED) on Tuesday conducted searches against Tamil Nadu Electricity Minister V Senthil Balaji and some others as part of a money laundering investigation and held multi-city searches, official sources said.
Life Insurance Corporation of India has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.
Mayawati recently appointed her brother Kumar as national vice president of the Bahujan Samaj Party.
The Congress on Wednesday questioned the Election Commission's move to get a post on electoral bonds scheme deleted from social media platform X and said that the issue raised in the post makes the government 'extremely uncomfortable'.
In 2015-16, more than 94 per cent of income tax returns were filed online and 4.14 crore returns were processed by the Central Processing Centre.
The Enforcement Directorate has begun a "preliminary enquiry" into the financial transactions that took place in connection with the Antrix-Devas deal.
NewsClick said that none of these investigations led to any chargesheets or complaints over the last three years."
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
The income tax department has sent notices to the two NGOs run by Team Anna member Kiran Bedi to find out whether they are engaged in commercial activities.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
Supreme Court Chief Justice SH Kapadia has ruled on Friday that the tax deparment has no jurisdiction over Vodafone's purchase of mobile assets in India.
The Supreme Court on Monday sought reply from PricewaterhouseCoopers as to why the non-resident company should not pay advance tax on fee charged by it for providing services in India.
Demand on capital gains on Idea share sale by Mauritius subsidiary; Fema and telecom regulation violations also alleged
In the Budget 2012-13, the government had pegged 2012-13 gross domestic product growth at 7.6 per cent (plus, minus 0.25 per cent).
The warning came after Nokia Chairman and interim chief executive officer Risto Siilasmaa met Commerce Minister Anand Sharma and tax authorities in a bid to resolve the Rs 21,153-crore (Rs 211.53 billion) liability it faces.
The Department refused to allow transfer of the plant till the dues claimed by the department are not remitted by the company.
Raj Kundra's stake in the franchise is legally questionable. The Income Tax department and Enforcement Directorate the two agencies investigating the Indian Premier League franchisees -- have come across a web of transactions that violated FIPB and RBI guidelines.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
In continued post-demonetisation crackdown on black money, stashes of new notes continue to be seized in several states, including Rs 1.05 crore from a tea seller-turned-financier in Gujarat and nearly Rs 90 lakh in Andhra Pradesh.
The government is open to 'some tinkering' in the varied rates and holding period for computation of capital gains tax on shares, debt and immovable property, in a bid to make it simple, revenue secretary Tarun Bajaj said on Wednesday. Under the Income Tax Act, gains from sale of capital assets, both movable and immovable, are subject to 'capital gains tax'. The Act, however, excludes movable personal assets such as cars, apparels, furniture from this tax.
Regulator finds broker trading through conduits; 26 entities barred from market.
In more trouble for Finnish mobile firm Nokia, whose immovable assets were attached in an alleged tax evasion case recently, the Income Tax department is set to issue fresh demand notices for payment of taxes to the tune of Rs 1,000 crore (Rs 10 billion).
The Income Tax department and the Unique Identification Authority of India have agreed "in-principle" to come together for rolling out PAN cards with unique 16 digit Aadhaar number.
The OTP will be sent on the registered mobile number and email of the individual
With the income tax department alleging former Chief Justice of India K G Balakrishnan's kin possess black money, ex-CJI J S Verma on Sunday demanded that Balakrishnan should quit as National Human Rights Commission chief and if he does not, President Pratibha Patil should intervene to get him removed from the post.
Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore.
A total of 728 applications have been received till July 18, 2016 for Start Up recognition.
Many salaried taxpayers hold the misconception that they don't need to disclose any other income since TDS is deducted from their salary.
