The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
'Given the past record, no one will be prosecuted, especially since the beneficiaries comprise the most powerful people in the country. They will pay a fine and be let off.'
Chouhan's son Kartikey accused the Congress leader of intentionally making a false allegation about his name being in Panama Papers of alleged tax evaders.
Uttam Ghosh/Rediff.com offers his unique perspective on several issues of the day.
Promoters, who have a higher degree of accountability and public responsibility, should share more details about themselves.
He said the air conditioners were run non-stop at a very low temperature, and they were given thin blankets, which were even thinner than silver foil paper and one could see through them.
United States President-elect Donald Trump on Tuesday said that he understands the Russian feeling with NATO (North Atlantic Treaty Organisation) being on their doorstep.
Under pressure to come clean, David Cameron has finally admitted that he profited from shares in a Panama-based offshore firm set up by his late father but sold his stake months before he became Britain's prime minister in 2010.
He also invited all politicians accusing him and his family to present evidence of any financial wrongdoing before the judicial commission.
The leaked list contains the name of Union minister Jayant Sinha, who responded by saying that the transactions were not done for any 'personal purpose'.
The note guides taxman to avoid seeking voluminous details.
Sharif lashed out at "some unseen elements" for hatching conspiracies against his democratically-elected government.
A row erupted on Wednesday over Amitabh Bachchan's participation in the second anniversary celebrations of the National Democratic Alliance government in New Delhi on May 28.
Cricketer-turned-politician Imran Khan-led Pakistan Tehreek-i-Insaf's petition seeking Pakistan Prime Minister Nawaz Sharif's disqualification in connection with the 'Panama Papers' leaks has been sent to the Election Commission, the National Assembly Speaker said on Saturday.
Indians having undisclosed income in the United States (US) may face proceedings under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, this financial year. Also, those named in global leaks may be searched, show-caused, and prosecuted, according to the FY23 internal action plan of the Central Board of Direct Taxes (CBDT). The CBDT has rolled out an aggressive target and timeline to investigate tax evasion matters, especially those involving undisclosed foreign assets.
Defensive injury concerns for veteran squad leader Vincent Kompany and Barcelona's Thomas Vermaelen have eased and coach Roberto Martinez has sent standby defender Laurent Ciman home.
Pakistan's former prime minister Nawaz Sharif is set to arrive in Islamabad on Saturday after a four-year self-imposed exile in the United Kingdom, months ahead of general elections.
RBI itself is part of the multi-agency group announced by the Indian government to monitor such holdings and take appropriate action.
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."
The SC also ordered the National Accountability Court to start a corruption case against Sharif, his sons -- Hussain and Hassan -- and daughter Maryam.
The first week of the resumed Budget session of Parliament is likely to remain disrupted with Congress determined to vociferously raise the dismissal of the Uttarakhand government
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
Clearly, her father hopes that a successful tenure in Lahore will give Maryam the ballast to be prime minister after the next general election.
According to jail officials, Nawaz, Maryam and Safdar will be released on Wednesday if the order is received prior to the expiration of lock-up time.
Senior Congress leader Jairam Ramesh also asked the RBI to make public details of FDI inflows from Cayman islands since demonetisation.
The admission came in the midst of his virulent campaign against Prime Minister Nawaz Sharif to resign after his two sons and a daughter were named in Panama Paper leaks as having offshore companies.
The two were convicted on July 6 in the Avenfield properties case linked to the Sharif family's ownership of four luxury flats in London.
Bilawal has said the reality is that his party does not have a mandate to form a federal government.
When Bastian Obermayer and Frederik Obermaier shone a light on the Pandora's Box that became famous as the Panama Papers, even they didn't know how it would shake up the murky world of finance, indeed the world itself.
Shahbaz was allegedly involved in the corruption of Rs14 billion Ashiana Housing project and Rs 4 billion Punjab Saaf Pani Company scams.
Occasionally, a whistle-blower releases sensitive financial data.
Three cases -- Avenfield properties case, Flagship Investment case and Al-Azizia steel mills case -- were launched by the National Accountability Bureau on September 8, 2017 following a judgment by the apex court that disqualified Sharif.
Congress general secretary in-charge communications Jairam Ramesh said that in the 'Hum Adani ke Hain Kaun (HAHK)' series under which the Congress posed questions to Prime Minister Narendra Modi, the party had asked him about his "favourite business group's links with the Chinese citizen Chang Chung-Ling (aka Lingo Chang) who has been a director in several Adani Group companies along with Vinod Adani and also made an appearance in the Panama Papers".
Former information minister and senior leader of the Pakistan Tehreek-e-Insaf Party Fawad Chaudhry said that the premier made the decision after approval from the party's core committee.
Over the last two years, despite an amnesty scheme, only about Rs 2,500 crore of taxes have been recovered.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
About Rs 1,282 crore has been levied as tax in 159 cases pertaining to concealment of tax due to the government
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
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