It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
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.
Enforcement Directorate is jointly probing the case.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs 251, for alleged contravention of FEMA.
Five army personnel were killed and six injured on Monday when terrorists ambushed their vehicle in the remote Machedi area of Jammu and Kashmir's Kathua district, officials said.
The dealers operating in the space have jumped nearly three times over the past two years.
PAN could be used by the probe agencies.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
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.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their "financial transactions" such as operating and managing their client firms and trusts, and buying and selling business entities. The Union finance ministry issued a gazette notification on this on Wednesday. Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
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.
Food chain rejects Bakshi's offer of Rs 1,800-cr for stake; CLB gives it till Nov 25 to make a counter-offer.
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
The Maoists have warned that if the government does not stop unfairly targeting them and charging false cases against them, what happened in Kochi at the Jehovah's Witnesses convention can be expected during the 'Hamas rally of fake comrades' in the district, an official said.
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.
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
The Delhi high court on Monday allowed journalist Rana Ayyub to travel abroad while questioning the Enforcement Directorate over a Look Out Circular (LOC) issued against her barring her from travelling abroad.
The Enforcement Directorate moved a special court in Mumbai on Monday seeking issuance of a non-bailable warrant (NBW) against former Indian Premier League chief Lalit Modi in alleged money laundering case registered against him.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
Such service providers were given time until the end of October to follow the law of the land.
The government notified the compliance window under the Act.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Notification, FAQs likely after FM Jaitley returns from the US
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
The company releases documentary showing top executives of dozens of realty firms offering to launder black money.
National Disaster Management Authority had in 2016 suggested assistance offered as a goodwill gesture 'may' be accepted.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
The SIT on black money has widened its probe.
India's foreign exchange reserves are at an all-time high.
The approvals would be handled independently by administrative ministries of different sectors.
Clever wordplay does not change the fact that the government is going pretty easy on some tax offenders, says Arup Roychoudhury.
They were released from police custody on Wednesday after being questioned about their foreign exchange dealings.
Andhra Pradesh secondary education minister K Parthasarathy was on Wednesday sentenced to two months' simple imprisonment by a court in Hyderabad in a 13-year-old case of Foreign Exchange Regulation Act violation.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
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