He was permanently absorbed into the ED cadre in 2014 and has headed some high-profile investigations into the 2G spectrum allocation case, the 2010 Commonwealth Games, the money laundering cases against former Union finance minister P Chidambaram and his son Karti Chidambaram, Andhra Pradesh chief minister Y S Jagan Mohan Reddy and former Jharkhand chief minister Madhu Koda, the Aircel Maxis and VVIP choppers case.
The Monetary policy committe comprising 6 members voted 6-0 in the favour of the rate cut.
Some radio taxi operators are avoiding service tax payments, forcing the revenue department to take necessary steps, including coercive measures, to recover the dues, Finance Minister Arun Jaitley said.
'We hope this round of meeting, on the basis of previous meetings, can move forward, further enlarge consensus, narrow differences and work for a solution that is acceptable to both parties,' the spokesperson said in updated comments posted on the ministry's website.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
India is upset at a reference to Prime Minister Narendra Modi by a US state department official while defending the immunity it had extended to Saudi Arabian ruler Mohammad bin Sultan, who is facing allegations of killing journalist Jamal Khashoggi.
India will have to show more willingness to import, and since Biden will not encourage sale of oil and gas to bridge the gap, it means there has to be more meaningful duty reduction in other areas even if Delhi baulks at a Free Trade Agreement so soon after walking out of RCEP.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
The Saifee Burhani Upliftment Trust bought Hotel Raunaq Afroz, Shabnam Guest House and six rooms in Damarwala building.
Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts.
The apex court also expressed anguish over the Uttar Pradesh government failure to come out with a vision document to preserve and protect the Taj Mahal.
The approvals would be handled independently by administrative ministries of different sectors.
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
'If the RBI liability is extinguished and they no longer remain legal tender, then those Rs 500 and Rs 1,000 notes are worthless paper.' 'Then why should it be a criminal offence to keep that paper?'
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.
CBI and Enforcement Directorate are probing the huge remittances to Hong Kong from the bank.
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Prime Minister Narendra Modi said on Monday that the partnership between India and Germany could serve as an example of success in a complex world as the two sides inked several agreements focused on sustainable development under which India would receive USD 10.5 billion assistance by 2030 to boost the use of clean energy.
India has been in touch with all parties concerned as part of overall global efforts to bring down the tensions.
The agency had received intelligence inputs that a huge amount of "unaccounted" cash is lying at the groups properties at Delhi and Noida.
'What is forgotten but is actually as important for a society's long run success is morality.' 'Morals and trust are the nuts and bolts of an economy.' 'Without those you can get short run success, but not long-run development.'
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
India and China on Tuesday agreed to hold the next round of the Senior Commanders meeting at an early date to achieve complete disengagement from all friction points in eastern Ladakh to create conditions for the restoration of normalcy in bilateral ties.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The rupee appreciated by 0.27 per cent in June against the dollar.
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Securities and Exchange Board of India (SEBI) has 'drawn a blank' in its probe into alleged violations in money flows from offshore entities into the conglomerate.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
Whether it is Sri Lanka, Maldives, or Nepal, quietly but steadily, India has been reclaiming some of the ground it had lost to China, observes Aditi Phadnis.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
About Rs 8.33 crore cash has been seized from Delhi, Rs 2.5 from Bengaluru and Rs 60 lakh from Mysuru till now, a senior official said.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
