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.
K V Chowdary, who is set to take over as the new Chief Vigilance Commissioner on Tuesday said he has full respect for both Prashant Bhushan and Ram Jethmalani, who have opposed his appointment to the top post in the country's apex anti-corruption watchdog.
With the solar panel scam continuing to turn the heat on Kerala's Congress-led United Democratic Front government, telephone call details gathered by investigators showed that several ministers and political leaders had made calls to the prime accused in the case Saritha Nair, apart from getting frequent calls from her.
FIR says that the officials by virtue of influence exercised over them by Karti, not only ignored the serious illegality on the part of INX Media on both the counts but also deliberately showed undue favours to INX Group.
Google is going ahead with a policy revision mandating 30% charge on in-app purchases across all apps on Play Store. This has left developers' community worried about tighter squeeze on their earnings, says Yuvraj Malik.
Capital markets regulator, I-T department suspect tax evasion and market manipulation
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
Today, the single most popular route of laundering is the stock market platform, notes Debashis Basu.
DFS writes to departments that haven't responded to RBI's request for information.
It has been also revealed that V G Siddhartha had written a letter to the Board of Directors and employees of Coffee Day Enterprises, saying he had 'failed as an entrepreneur'.
Punj Lloyd voluntarily deposited Rs 1.06 crore (Rs 10.6 million) on the spot through challans when excise officials visited them during an investigation in the matter.
Tax department has launched 60 prosecutions.
Change in performance appraisal system will deter corruption and motivate officers to pass correct orders.
B L Agrawal, a principal secretary in the Chhattisgarh government, was arrested for allegedly bribing people to help him wriggle out of corruption cases pending against him, while J P Singh, a former joint director of in Enforcement Directorate, was held for accepting illegal gratification to favour the accused in the Indian Premiere League betting scam.
Kerala's tax authorities are also reviewing other e-commerce companies for similar discrepancies, and might fine more defaulters.
This marked an increase from 2,63,000 at the end of 2013
News of all that's transpired on and off the football field
The Opposition in the Pakistan Punjab assembly on Tuesday staged a walkout to protest against Saeed's detention.
This will add to the woes of the conglomerate that had received a show-cause notice from the Directorate of Revenue Intelligence (DRI) last week for alleged over-valuation of imported machinery by Rs 2,000 crore.
More companies with unconventional business models to get into messy legal hassles in India.
India has joined global efforts to combat global tax evasion.
While posting the matter on April 29, the bench asked the Solicitor General to take proper instruction from the Revenue Secretary and also respond "What prevented them (Centre) to comply with the directions."
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
The SIT was created by Supreme Court and notified by the government last year to curb black money.
One incident should not be used to generalise the health of all cooperative banks, says RBI governor Shaktikanta Das.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
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.
Instead of only government departments and state-owned undertakings, the CAG can now audit private companies, too.
The Supreme Court-appointed SIT on Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.
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There is no doubt that the Modi government has showed greater urgency in unearthing unaccounted money stashed away by some Indians in tax havens and other countries, enjoying the advantages of the latter's banking secrecy laws.
Top management of firms should be summoned for a few specified reasons and after written justification at a senior level.
Nike Inc and some other big international companies face a grilling over their powerful role in Brazilian soccer.
World football body FIFA put Jerome Valcke, its second-ranking official, on leave on Thursday just hours after an ex-footballer raised allegations he was involved in a plan to resell 2014 World Cup tickets for a lucrative profit.
HP has been charged with underpaying customs duties while importing products and spare parts.
The scam, which operated since 2013 through at least half a dozen call centres in Thane, targeted at least 15,000 US-based tax payers, who were allegedly conned by Indian tele-callers.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
With attractive health check-up packages and a growing trend of over-investigation, one needs to be cautious while going for such diagnostic tests.
In an indictment released by the Department of Justice on Wednesday, Hawilla was one of four convicted defendants who helped US investigators build their case against 14 top global soccer officials and sports marketing executives accused of orchestrating more than $150 million in bribes and kickbacks.
The land acquisition, the consolidation process in Kot and a slew of other decisions by the Haryana government to open the hills to privatisation and commercial activity run contrary to court orders, environmentalists' demand, and at times the Union government's measures to protect the Aravalli hills, say Nitin Sethi & Kumar Sambhav Shrivastava.
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra.
