The Union home ministry has cancelled the Foreign Contribution Regulation Act (FCRA) registration of the Centre for Policy Research (CPR) for alleged violation of laws, a move the public think-tank termed "incomprehensible and disproportionate" and vowed to seek legal recourse against.
I-T dept launches Tatkal system for those who desire to help the victims of the earthquake in Nepal.
At a meeting held in Mumbai, Satish Loomba, custodian, handed over Rs 1,995.6 crore (Rs 19.95 billion) and Rs 199.25 crore (Rs 1.99 billion) to senior revenue and bank officials, respectively.
The Financial Intelligence Unit (FIU), the federal economic snoop agency under the Union finance ministry, sent 289 legal requests to its counterparts across the globe during 2018-19 as compared to 177 in 2017-18 and 138 in 2016-17.
The department has calculated and arrived at the figure and may raise two separate demands.
The central government's clarification on the 2 per cent equalisation levy on foreign digital operators in the Budget, which considerably expands the scope of the levy, might be challenged in court, with several companies contemplating filing a writ petition in the coming few weeks. The writs might be filed on the grounds of the levy's alleged extra-territorial overreach, as it aims to cover those entities that do not have a physical presence in India, going against international taxation rules.
ED sought his custody for seven days, claiming it had knowledge of unidentified assets which value more than Rs 500 crore and his custodial interrogation was required.
The Income Tax Department and Tamil Nadu Directorate of Vigilance and Anti-Corruption officials raided houses and business establishments of former Chief Minister Pannerselvam and a former Minister Anitha Radhakrishnan.
If you are an individual, you will get your refunds quicker.
India's second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
Mumbai, which adds 37 per cent to the total direct tax mop-up, has reported tax collection of Rs 4.93 trillion so far, against the full-year target of Rs 5.35 trillion.
She dubbed the I-T raids as "anti-democratic, deliberately planned and tested".
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
The government has become used to accounting for TDS as its income even though it knows a significant portion needs to be returned as refund
The former Congress president alleged that PM Modi had a "monopoly over corruption".
Clarity on the roadmap necessary to assess its likely impact on near-term fiscal health and investment.
To resolve the so-called 'angel tax' issue, the start-ups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums, she said.
I-T heat on thousands of firms for unusual cash deposits.
Multinational drug companies with research interests in India may soon find the market more lucrative. The government plans to revive, and may extend to foreign companies, the income-tax exemptions enjoyed by Indian research and development pharma companies till 2007.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
The court had earlier allowed Burman twice to go abroad, including a trip to London to attend his ailing brother there.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
With wages rapidly rising in China, all is still not lost. Wage costs in India are significantly lower and this fact could still help us turn the tide in our favour.
Banks in talks with temple trusts to push gold scheme
The EC has asked all departments to deploy round-the-clock flying squads, quick-response teams, and high-tech machinery to check money inflow. They are also to examine vehicles passing though check-posts, reports Shrimi Choudhary.
Modi also reached out to traders, saying their past records will not be checked by the income tax department if they join the formal economy by getting themselves registered under the GST regime.
Justice Handyala Lakshminarayanaswamy Dattu was appointed as the next Chief Justice of India on Friday and will have a tenure of 14 months. The President is pleased to appoint Justice Dattu as the CJI with effect from September 28, 2014, the law ministry announced in New Delhi.
In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. 'It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report.
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HC restrains Nokia from selling, transferring ownership rights in India.
Former Chief Justice of India Justice Handyala Lakshminarayanaswamy Dattu was on Tuesday selected as the next Chairperson of the National Human Rights Commission.
India Inc reacted cautiously to allegations on Swiss a/cs.
The Securities and Exchange Board of India (Sebi) has proposed new regulations to deal with suspicious trading activities-a move that will empower the market watchdog to go after entities making unusual profits without any fundamental basis. The regulator has issued a discussion paper, inviting feedback on the draft of the Sebi (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023, which are aimed at curbing front-running, use of mule accounts, pump and dump schemes, and misuse of social media influencers. Currently, Sebi's Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) and Prohibition of Insider Trading (PIT) Regulations deal with such activities.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
The government managed to raise revenues by sending notices to high net individuals to did not file I-T returns last year.
Roopa had alleged that Rs 2 crore had exchanged hands to provide special facilities to Sasikala.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
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