NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
According to the government's notification, 10 central probe and snoop agencies are now empowered under the Information Technology Act for computer interception and analysis, ministry of home affairs officials said.
About Rs 1,282 crore has been levied as tax in 159 cases pertaining to concealment of tax due to the government
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
The agency's probe till now found that huge monies were transferred through RTGS transfers to some shell companies including a case where the director of such a firm was a petty labourer
Out of these, no balance has been found in case of 289 accounts
Officials said PFI has been under the radar of security agencies for its alleged role in violent protests in different parts of the country.
Markets regulator Sebi joined hands by banning any fresh futures market position in chana, the only commodity among pulses where such trading was allowed
The Central Economic Intelligence Bureau, lead agency under Finance Ministry to gather and disseminate intelligence related to financial crimes, has traced illegal flow of money through Private Placement Programme, which involves offering of securities to select individuals or groups, upto 50 in numbers, official sources said.
Pawan Kumar, organising secretary of the Bharatiya Mazdoor Sangh (BMS) affiliated to the Rashtriya Swayamsevak Sangh (RSS), tells Aditi Phadnis it will join forces with other trade unions if necessary to oppose the Employees' Provident Fund Organisation (EPFO) provisions in the Union Budget.
The proposed measures aim to bring stricter norms to curb holding of illegal cash and mismanagement of unaccounted cash seized by the probe agencies during investigations.
The Panama Paper leaks were originally revealed by the International Consortium of Investigative Journalists on April 4, 2016, following which, the government had set up the MAG to probe the matter.
Tax wing scanning cash deposits between Rs 5-10 lakh
An estimated Rs 39 crore in cash and over 1.67 lakh litres of illicit liquor has been seized by Election Commission-appointed teams in the Bihar assembly elections till now.
The agency had received intelligence inputs that a huge amount of "unaccounted" cash is lying at the groups properties at Delhi and Noida.
RBI has cited "legal impediments" in sharing the reports.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
The poll-panel called these seizures by its various field and technical enforcement teams a "historic milestone" achieved "for the first time in any assembly electoral process", meaning during simultaneously-held assembly polls.
Attorney General K K Venugopal on Wednesday defended The Tribunals Reforms Act of 2021 in the Supreme Court and said that many times the top court through its judgments had waded "into the policy domain" and it should "keep in mind separation of powers".
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
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.
The plea, filed by advocate Manohar Lal Sharma, termed the notification "illegal, unconstitutional and ultra vires to the law".
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
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The notice also said service tax amounting to Rs 28.08 crore (Rs 280.8 million), in addition to education cess of Rs 56 lakh and secondary and higher education cess of Rs 28 lakh (Rs 2.8 million) for the period between October 2007 and September 2012, should be recovered from Amity under the provision to sub-section 1 of section 73 of the Finance Act.
In fact, the Taliban apparently collects about 10 per cent as cultivation tax from opium farmers and 15 per cent as heroin tax from laboratories and smugglers that smuggle narcotics into Pakistan. This, by itself, is a revenue stream estimated at USD 250-300 million.
The vice chairman said they have asked agencies like the ED, IT to make an assessment of the list and prepare a report in this regard.
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
The Election Commission has a fight on its hand as candidates use ingenious methods to smuggle in money to Voters.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
In an interview to ANI, Union Home Minister Rajnath Singh spoke on various issues, including the Balakot air strikes to the status of Kashmir to the party's manifesto.
The Directorate of Revenue Intelligence (DRI) has slapped a Rs 5,500-crore show-cause notice on Adani group for alleged over-valuation of capital equipment imports.
India does not have a stringent privacy or data protection Act.
Finance Minister Arun Jaitley on Friday said Switzerland has agreed to share information on Indians having illicit money in Swiss banks on independent evidence provided in each case to the Alpine nation.
Jaitley said, "I welcome this investigation. I think it is a healthy step that these kind of exposes are being made. I have been repeatedly saying that the world is now going to increasingly become more transparent, countries are cooperating with each other and slowly all this information is going to come out as a result of various global initiatives which have been launched."
