Accusing the Congress of putting its interests above the country's, Prime Minister Narendra Modi on Friday tore into the Oppposition, saying unlike earlier when opposition parties stalled Parliament against scams, Congress- led parties are now doing so against government's steps to curb black money and corruption.
The agency said it searched a Mumbai-based operator who was running 700 shell companies with 20 dummy directors and had "converted Rs 46.7 crore for Chaggan Bhujbal", the jailed ex-Maharashtra deputy chief minister.
Persons making disclosure of unaccounted assets will be given time up to November 30 to pay taxes
The Enforcement Directorate (ED) may initiate a money laundering investigation over the framing and execution of the Aam Aadmi Party government's excise policy, official sources said on Friday after the Central Bureau of Investigation raided Delhi Deputy Chief Minister Manish Sisodia and others in the matter.
The raids are underway at three locations, including her residence in Sainik Farm. Misa Bharti and her husband Shailash Kumar are involved in an alleged benami land deals case and were called for questioning by tax officials in June.
The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
The central government, in its typical sledgehammer style, has unleashed the might of its investigative agencies like the Enforcement Directorate against NCP and Shiv Sena leaders.
There is no dearth of political will today to act against corruption and officers should take action against the corrupt, however powerful, without any hesitation, Prime Minister Narendra Modi said on Monday.
The Enforcement Directorate on Monday conducted raids against arrested Delhi minister Satyendar Jain as part of a money-laundering probe linked to an alleged hawala dealings case being conducted against him, officials said.
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
The SIT on black money has widened its probe.
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.
The RJD chief has been asked to appear for questioning at the agency headquarters on September 11.
A day ahead of the nationwide protests planned by the opposition against demonetisation, Prime Minister Narendra Modi defended the move and warned unscrupulous people using the Jan Dhan accounts of the poor to launder their black money of strict action.
Jain, 57, is the minister for health, power, home, PWD, industries, urban development, flood, irrigation and water in the Arvind Kejriwal-led government.
The Enforcement Directorate on Monday arrested Delhi minister Satyendar Jain in connection with a money laundering case, officials said.
CBI sources said the shell companies were allegedly being used by the suspects to divert loan funds meant for specified purposes, creating fake invoices, and 'round-tripping' of funds to evade taxes and generate black money.
The Income Tax Department detected bogus expenditure claims and alleged transfer of share capitals worth crores of rupees through shell companies after it recently raided some entities in Karnataka and Uttar Pradesh, including people linked to the Samajwadi Party.
The ED will probe if there were alleged irregularities in the formulation and execution of the Delhi Excise Policy unveiled in November last year.
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Enforcement agencies will be empowered to confiscate assets
Filing with inadequate disclosure of assets will be liable for prosecution
Aaditya, son of Shiv Sena president and Chief Minister Uddhav Thackeray, dubbed the searches by the I-T department on Kanal as 'invasion by Delhi' ahead of Brihanmumbai Municipal Corporation (BMC) elections.
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
Go cashless. Go clean, say I=T to people.
With a staff crunch, it seems the I-T department would now target only the big fish rather than go after small assessees.
Consensus building is likely to be the biggest casualty.
Limited IT staff may compel them to focus on big fish than small depositors.
'The true fruits of the attack on black money, what Raghuram Rajan did for the banking system, and what technology is doing for us will come in FY19, which, not surprisingly, is the year running up to the next Lok Sabha elections.'
Exchange to reply to FMC's letter soon, CEO says buyers can't be declared defaulters where there is 'market disruption'.
The ED will soon file a complaint under the Prevention of Money Laundering Act (PMLA) to probe criminal proceeds of crime that were allegedly generated by Dubey, his associates and family members and if this money was subsequently used for creation of illegal movable and immovable properties.
Many countries advised the return the high-denomination notes to the central bank for destruction, but these continued to be legal tender. This and the introduction of a new Rs 2,000 note in India are the two major differences between Indian demonetisation and those of other countries.
However, Deloitte, the latter entity, says regulations don't mandate it to go beyond a basic examination of the books of accounts.
Against estimates of black wealth of Rs 300 lakh crore and black money in cash of Rs 3 lakh crore by economist Arun Kumar, the PMGKY numbers fall short by a huge margin.
'On corruption the Yadavs of UP and Bihar will find it very tough to give an answer to the accusations of the BJP and its supporters,' says Aakar Patel.
The session will have 20 working days for now.
'Fear is also a great impetus to push people in the right direction.' 'So, everyone who has touched black money is scared and I'm very happy about it.'
The very design of the GST will bring in revenue buoyancy.
The PFI is alleged to have been continuously involved in anti-government propaganda and spreading the narrative that Muslims were being persecuted in India.
Manish Sabharwal tackles 5 criticisms of demonetisation.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
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