The company contented before the tribunal that the amount was paid outside India.
Modi said there was a need to make transactions 'transparent' in India.
The domestic currency hovered in a range of 60.59-60.85 per dollar during the late morning deals.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Thanks to rupee depreciation, India has a chance to fundamentally rework its stifled manufacturing sector.
'The sooner Pakistan and India face these geopolitical realities, the better it will be for their own security and prosperity,' observes Ambassador M K Bhadrakumar.
Tracking a recovery in local shares, the Indian rupee on Friday snapped a two-day declining trend and bounced back by 39 paise to end at 61.44 against the Greenback on fresh dollar selling by exporters and some banks.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
The home ministry said exercising the powers conferred under Foreign Contribution (Regulation) Act, the registration of Sabrang Trust has been suspended for a period of 180 days with effect from September 10, 2015.
World Bank's Doing Business Indicators ranks India (out of 189) at 132 for trading across borders.
Depending on your liquidity requirement, invest in the right debt instruments.
Overseas funds have also become strong buyers of debt, with net purchases of $5.6 billion so far this year.
'If I had to highlight one area that will do well, it is the financial assets -- that is the private sector banks, insurance and mutual funds.'
The finance ministry and the RBI have performed many somersaults in these last 42 days.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
An interplay of Modi government's outreach in Bihar and the sequence of events in Chirag Paswan's life could make Bihar a game of musical chairs when the results are out.
The Central Board of Direct Taxes is set to rationalise I-T rules.
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
The nullifying of the NJAC Act has put the spotlight on the Judiciary. Concepts like transparency, being open to change, leading from front, management of perceptions that were reserved for the Executive earlier are now relevant for the Judiciary as well, says Sanjeev Nayyar.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
'The mindset of people needs to change.' 'We still believe in accepting cash when we can do business with digital money as well.'
Industry says though most pending issues have been deliberated upon by Tourism ministry, they are yet to be implemented
The 30-share Sensex and the 50-share Nifty ended flat at the mark of 29,008 and 8,767 respectively.
City police, metros, airports, even power utilities are using pop culture and social media to reach the young and encourage public ownership of public services. Amritha Pillay reports.
If borrowers don't have access to a bank's credit facility, it could make sense to use peer-to-peer systems.
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
Harsh Roongta, Mahesh Padmanabhan, Anil Rego answer the most sought after questions on Budget Day.
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Compared to their Indian peers, MNCs have higher return ratios.
Converting what was supposed to be an interim budget or a vote on account into an almost full-fledged budget announcement in the Lok Sabha, Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
He said the bearer bonds can be purchased by corporate donors and donated to political parties without revealing their identity.
Within the next two years, verification and scrutiny of returns will happen electronically through anonymised back offices manned by tax experts and officials. It will function without any personal interface between taxpayers and tax officers. Both the taxpayer and the tax officer will not know each other -- who is scrutinising whose return, and at which place, points out Kuldip Kumar, partner and leader personal tax, PwC.
The Public Provident Fund is one of the safest and convenient modes of investment.
Gandhiji inspired the nation to believe in their dream. He continues to be an inspiration to each one of us by making us believe in our dreams. Make that home loan work for you and don't give up till you sign on the dotted line for owning your dream home.
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