The counsel for the Centre said the proposal has been sent to the economic affairs department for further approvals, which would also be processed and the petitioner can apply for requisite visa permits.
New foreign trade policy to stress manufacturing exports.
The guidance is certain to cause severe anxiety and uncertainty for the hundreds of thousands of international students who are studying in the country and for those who were preparing to arrive in the US to begin their education when the new academic session begins in September.
'Vijay Gokhale's appointment as foreign secretary can be regarded as a certain 'adjustment' that could make a difference to the poor climate of India-China relations,' says Ambassdor M K Bhadrakumar.
Court cases, investigations, dwindling sales and fall in market capitalisation could make recovery a tough challenge.
Worried over excessive outflow of foreign exchange as royalty and fees for technology transfer and use of brand names, Commerce and Industry Minister Anand Sharma wrote to Finance Minister P Chidambram on the matter.
The government on Wednesday extended the tenure of Enforcement Directorate Director Sanjay Kumar Mishra by a year till November 18, 2022, days after the Centre brought ordinances to allow ED and Central Bureau of Investigation directors to occupy the office for up to five years.
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
The Central Board of Direct Taxes has advised its field formations to scrutinise all cases in which companies have amortised foreign exchange losses under the one-time discretion allowed by the government through an amendment to Accounting Standard 11 (AS-11).
The Working Mechanism for Consultation and Coordination on India-China Border Affairs (WMCC) was established in 2012 as an institutional mechanism for consultation and coordination for the maintenance of peace and tranquillity in the border areas.
The Enforcement Directorate has begun a "preliminary enquiry" into the financial transactions that took place in connection with the Antrix-Devas deal.
Forex dealers said besides continued demand for the American currency from importers, increased capital outflows by foreign funds kept pressure on the rupee.
To spur war among lenders to grab existing loans
ED has initiated action against these account holders in Mumbai, Delhi and other cities.
Close on the heels of the alleged money laundering by farm owner Hasan Ali Khan through Switzerland-based bank UBS, Europe's biggest bank by assets, another Swiss bank, Credit Suisse, has come under scrutiny of the Enforcement Directorate (ED), which investigates foreign exchange violations.
While the rupee depreciation in 2012 persuaded many companies in taking hedges against their foreign currency loans, industry analysts feel it might not be sufficient to counter the swift slide in the value of the local currency.
Despite the government's hectic efforts to avoid voting on the no-confidence motion against Khan, the joint Opposition succeeded in its month-long efforts to oust Khan from the prime minister's office as 174 members of the 342-member National Assembly voted against him in the wee hours of Sunday after a day of high drama.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.
Do not declare them under Income Tax.
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.
They agreed to continue technical exchanges to help end the epidemic worldwide as soon as possible, it said.
To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
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Gold prices on Tuesday rose by Rs 227 to Rs 28,418 per 10 gm in futures trade, largely on speculative positions created by participants amid a firming trend at the spot market.
China sits on a mountain of United States treasury debt, reinforcing its position as the world's number one holder of US treasury securities with a total of $895.2 billion. China's foreign exchange reserves too stood at a mammoth $2.45 trillion at the end of March 2010.
With a sole mandate of inflation targeting, RBI wears many hats.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
Sitharaman also said different departments of the government are working to provide relief to industry, which could be severely impacted by the fast-spreading virus.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
With little clarity on the list of companies that have mark-to-market losses on derivatives transactions, banks are now asking their corporate banking departments to scan the books of borrowers and also seek details of their foreign exchange exposure. Within this pie, banks are segregating companies with turnover of Rs 30-40 crore (Rs 300-400 million) to Rs 100 crore (Rs 1 billion) and those which are above this threshold.
As the lower house took up the motion moved by Gogoi, there were heated exchanges between the opposition and treasury benches after Parliamentary Affairs Minister Pralhad Joshi wondered why Rahul Gandhi's name as lead speaker was withdrawn at the last minute.
The income tax authorities have put banks and companies disclosing losses in their foreign exchange derivative structures under the scanner. Banks and companies have been called to explain the extent of losses and structures initiated in both Indian and overseas markets through their branches and subsidiaries. The income tax department will then ascertain whether banks and companies entered into transactions to hedge their portfolio or for purely speculative purposes.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
The event will aim at drawing foreign investment in startups and push local partnerships.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Each dept could handle a designated area.
The defence ministry on Wednesday announced a fresh list of 351 sub-systems and components that will not be allowed to be imported under a staggered timeline beginning December next year.
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