The I-T department has also filed 77 prosecution cases.
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
Capital gains tax is no longer exempt even for investors coming via Mauritius, hence FPIs are now classifying it as interest income to save on taxes.
Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed to cap cash transactions at Rs 300,000 with effect from April 1.
Foreign direct investment (FDI) in India has declined by six per cent to $5.47 billion during January-March quarter of the current calender year even as government is making efforts to promote the country as an investment destination.
Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.
Exporters can make payment of fees through debit/credit cards.
A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018. The funds held by Indians through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown. It is now at second-lowest level in 20 years.
Indians at large harbour a notion that their country is cherrypicking out of the American basket of goodies, but the policymakers in Delhi and the political leadership are well aware that it can only be a pipe dream since a military alliance with a superpower is a profound irrevocable commitment, observes Ambassador M K Bhadrakumar.
The new foreign trade policy is considered to be less effective.
Leading brewer Anheuser-Busch InBev will pay USD 6 million (Rs 40.2 crores) to the American authorities for settling charges of making "improper payments" to government officials in India to push sales and production.
Aircraft manufacturer Embraer has agreed to pay over $205 million (over Rs 1,371 crore) as settlement with American and Brazalian authorities for resolving corruption charges in India and three other countries.
The company has pointed at the possibility of fines and financial penalties.
'It's a very tough situation. We're talking to India. We're talking to China. They've got a big problem there'
'Education is disconnected from social reality and does not even attempt to solve the real problems of our country,' observe Peehu Pardeshi and Sandeep Pandey.
The government is also working on Euroclearing, the world's biggest bond settlement system, for Indian debt securities.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
FATCA will facilitate flow of financial information between countries.
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
The chances of the posts opening remain slim, with security agencies recently identifying 10 suspects who smuggled in weapons, narcotics and fake currency.
Two Indian clerics, including the head priest of New Delhi's Nizamuddin Dargah, have gone missing in Pakistan
The 2012 Republican presidential nominee and one of Trump's most vocal Republican Party critics during this year's election campaign, met privately with the President-elect for about an hour.
Does IAS officers' work go unappreciated, asks Ajit Balakrishnan.
The regulations will only apply to the share purchases that have been done after October 1, 2004
CBI has also summoned a senior official of Reliance Industries Limited and a noted chartered accountant.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Should India engage Pakistan's generals directly, bypassing Imran? Ambassador G Parthasarathy, India's former high commissioner to Pakistan, ponders Delhi's diplomatic dilemma.
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Amidst debate over control of Jet Airways post UAE's Etihad buying stake, the RBI on Thursday notified FDI guidelines defining control of a company, saying that a firm will be said to be controlled by non-residents if they have powers to appoint majority of the directors.
A host of companies have been lined up by the disinvestment department as candidates for stake sale.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
Delhi finds itself between the rock and hard place in the coming Sri Lankan election, points out Ambassador M K Bhadrakumar.
Sensex heavyweight Reliance Industries fell 2.76 per cent. In percentage terms, major laggards were Yes Bank, Indusind Bank, RIL, ICICI Bank, HDFC and Axis Bank -- plunging as much as 6.62 per cent.
Embraer cannot escape Indian laws just because it has struck a settlement with American authorities, Parrikar said.
Experts say only three per cent individuals pay taxes.
'The Modi government would chaff at the very idea of holding talks with Pakistan, facilitated by Washington and under close US monitoring, when the 2019 poll is sailing into view.' 'But in politics and diplomacy, there may be moments when drinking from the chalice of poison is necessary,' says Ambassador M K Bhadrakumar.
In the past, several other Indian nationals have been named in such notifications after the Swiss FTA was approached by Indian authorities for information about those people with regard to the pending tax-related probes against them.
China on Monday said Defence Minister A K Antony's visit Beijing has given both countries an opportunity to enhance their "strategic cooperative partnership" and jointly maintain peace and tranquillity in the border areas through increased military-to-military coordination.
'Expectations were being built up about radical moves and the action plan did not disappoint.'
Infosys new chief executive officer and managing director Vishal Sikka took charge of the company in August.
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