In 2016, there were 580,000 Indians in the US as resident non-immigrant. Of these, 440,000 were temporary workers, which includes those on H-1B visas and 140,000 were students.
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
Modi also reached out to traders, saying their past records will not be checked by the income tax department if they join the formal economy by getting themselves registered under the GST regime.
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
Days after the Supreme Court observed that the 'success rate' in cases taken up by the Central Bureau of Investigation is perceived low, the agency has informed it that it has achieved the conviction rate of about 65-70 per cent, and would try to raise it to 75 per cent by August 2022.
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RBI's forex swap window for oil marketing companies addresses an urgent issue but what happens when the dollars have to be returned?
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
Amid growing concerns of surging COVID-19 cases, the US has announced that it will waive the in-person interview requirement for a range of visa applicants during the entire year in 2022, including for H-1B workers and students, many of whom are from India. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
The accused -- Lemos, his wife Valany and Ryan D'Souza -- were convicted on Sunday by the Dubai Misdemeanours Court in the 515 cases filed against them
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
It is going to be a long-term proposition for India -- which has a decades-old relationship with Moscow -- to reorient its foreign policy away from Russia, the US has said, insisting that re-aligning one's approach is not like flipping a light switch.
The rupee had lost 31 paise to close at one-month low of 61.07 on Wednesday on sustained dollar demand from banks and importers.
Tourist visa on arrival for 40 more countries including the US, the UK, Brazil, Germany, Canada and Australia, would soon be a reality as the Home Ministry is expected to clear the proposal soon.
Over 23,000 Indian students, mostly studying medicine, are reportedly stuck back home due to COVID visa restrictions.
"We share important interests with India. We share important values with India. And we know India has a relationship with Russia that is distinct from the relationship that we have with Russia. Of course, that is okay," Price told reporters at his daily news conference on Friday.
In a rare face off, captains of the auto industry have hit out at the government for not walking the talk. At an industry event in the capital on Wednesday, R C Bhargava, chairman of India's largest carmaker Maruti Suzuki, and Venu Srinivasan, chairman of TVS Motor, questioned the government's intent to support the auto sector. Revenue secretary Tarun Bajaj sat in the audience listening, before his turn came to counter them.
The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs 251, for alleged contravention of FEMA.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
The Indian regulator played key role in uncovering the identity of two Indian men who floated the scheme
CBI officials, who questioned former RBI deputy governor H R Khan on Friday, wanted to understand from him why the gold scheme was rushed through without taking into the account the impact and potential misuse.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Walmart agreed to pay more than $ 144 million to settle US Security and Exchange Commission's charges and approximately $ 138 million to resolve parallel criminal charges by the Department of Justice for a combined total of more than $ 282 million.
China on Thursday played down what appeared to be a tense conversation between President Xi Jinping and Canadian Prime Minister Justin Trudeau on the sidelines of the G20 summit a day earlier, saying the conversation is "candid, normal" and should not be interpreted as criticism or threat.
The claims were made after the Income Tax department had on July 6 raided 36 premises of the Bengaluru-based Micro Labs Ltd. across nine states.
The country's largest insurer LIC on Tuesday listed its shares at a discount of 8.11 per cent at Rs 872 per share on the NSE. On the BSE, the shares got listed at Rs 867.20 apiece, down 8.62 per cent over the issue price of Rs 949 a share. LIC had fixed the issue price of its shares at Rs 949 apiece after a successful initial public offering, which fetched Rs 20,557 crore to the government.
While the black money declarations may go up further once all the online and manual filings of undisclosed assets filed at the end of the four-month window on September 30 are compiled, the government will get this fiscal nearly Rs 14,700 crore or half of the total taxes due.
The average age of those who died was 80.3, and 90 per cent of the fatalities were aged 65 or over, the Hong Kong-based South China Morning Post reported.
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar on Wednesday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks.
External affairs minister S Jaishankar has told his Chinese counterpart Wang Yi that the two sides should work for an early resolution of the remaining issues along the LAC in eastern Ladakh to restore peace and tranquility in the border areas as this has been an essential basis for progress in Sino-India ties.
'By treating Nepali politicians as shabby buffoons to be pampered one day and collared another day, India badly exposed itself.' 'A belief got entrenched in the Nepalese mind that we are a dangerous neighbour,' observes Ambassador M K Bhadrakumar.
In a major relief to thousands of Indian IT professionals, a federal judge in the US on Thursday blocked the enforcement of a temporary visa ban by the Trump administration on a large number of work permits, including the most sought after H-1B visas, ruling that the president exceeded his constitutional authority.
"If the government wishes to target me, they should do so directly, not harass friends of my son who carry on their own businesses and have nothing to do with politics," he said in a statement shortly after reports of IT and ED searches on some premises connected with Karti's friends.
Now, more pieces of information about your transactions and income, such as remittances received from overseas, will be uploaded in Form 26AS by the income-tax (I-T) department. This will help the taxpayer file I-T return (ITR) correctly and assist the department in detecting discrepancies, if any, in the ITR. Besides foreign remittances, these new items are interest on I-T refund, dividend from mutual funds (MFs), and purchase of MFs, among others.
Braverman, 42, resigned from the cabinet of former prime minister Liz Truss last week, having breached the ministerial code by sending secure information from her private email.
The MH-60R helicopter is an all-weather maritime helicopter designed to support multiple missions with state-of-the-art avionics.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
