It also said that PAN card without Aadhaar number would not be treated invalid till the Constitution bench decides the larger issue of Right to Privacy.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
PNB has rich experience in the integration of commercial banks.
About Rs 2,280 crore (Rs 22.80 billion) unaccounted income being allegedly routed through Private Placement Programme (PPP) has been detected by economic intelligence sleuths.
Congress leader Rahul Gandhi was questioned for over eight hours by the Enforcement Directorate for the second consecutive day in the National Herald money-laundering probe and was again summoned on Wednesday, even as the opposition party continued its protests and sparred with the BJP, accusing it of conspiring to defame the Gandhi family through the ''false'' case.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
Do it if you are sure of generating sufficient trading volumes.
This is being done keeping in mind the urgency of these transactions, and it would help the ongoing insolvency cases, including the 12 accounts referred by RBI to banks.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
Use cheques, cards to check black money, says Jaitley.
In the next few days, use credit/debit cards wherever possible or download your bank's mobile banking app or a mobile wallet.
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
The FBI officer met senior officers of Thane Police and exchanged information gathered by both the sides about the scam which was unearthed earlier this month.
The divestment target remaining unchanged, from the 2019-20 interim Budget, this year means the Centre will now have to depend on non-tax revenue sources like dividends from the RBI, PSBs and PSUs, as there are real concerns of a tax revenue shortfall. The fiscal deficit target of 3.4% of GDP for 2019-20 is likely to be retained as well.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
For the second year in a row, India has been recognised as the fifth-best performing nation in reforming the business environment. However, in the two categories that the government was banking on most - "Paying Taxes" and "Resolving Insolvency" - landmark reforms that were expected to yield better results have had the opposite effect. Under the circumstances should the country celebrate already or are there any reasons for worry, wonders Subhayan Chakraborty.
Today, the single most popular route of laundering is the stock market platform, notes Debashis Basu.
Each financial product is governed by a different regulator and the rules for gifting vary, points out Tinesh Bhasin.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
'I was shocked by the kidnapping episode. I could have lost my life.'
'I feel now we have a leader who is non-corruptible.' 'But he needs time as corruption is deep-rooted in our society, and people have no shame about being corrupt.' 'It will take at least 7 years to make some changes.'
The Income Tax department probing alleged irregular transactions in the IPL has got "convincing evidence" of payment of "facilitation fee" to World Sports Group (WSG) by Multi-Screen Media (MSM) for acquiring T20 league's telecast rights, a senior officer said in Mumbai on Thursday.
Congress leader Rahul Gandhi was questioned for over 10 hours by the Enforcement Directorate in a money-laundering probe linked to the National Herald newspaper and was called to depose again on Tuesday, as his party protested across the country, alleging that the Centre was targeting the Opposition by misusing agencies.
The ED case has been booked under the Prevention of Money Laundering Act (PMLA) and the agency will record the statement of the accused. The central agency will investigate if proceeds of crime were generated by the accused by laundering of funds that were earned through the alleged gold smuggling racket.
Sebi found a typical pattern in trading of shares of these companies.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
The very design of the GST will bring in revenue buoyancy.
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
If net forex outflows turn out to be relatively high in the next few years, the rupee could depreciate beyond Rs 80 to a dollar by 2022. The causal reasons could, for example, include unmet expectations of FPI and FDI investors about the performance of the Indian economy, sharp rise in prices of imported oil and decrease in FX remittances. The RBI has to ask itself whether guaranteeing future rupee-dollar exchange rates on FX forward contracts is a reasonable way to use its risk-bearing capacity, says Jaimini Bhagwati.
The money was paid to Mallya in two tranches in his offshore accounts.
'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.'
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
Companies' annual reports can hide as much as they reveal. Investors can get early warning signals of wrongdoing by frequently speaking to other stakeholders.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Not only is your privacy stripped stark naked, says Mitali Saran, the system itself is illegal and vulnerable.
