Tightening the norms, Income Tax (I-T) Department has introduced a new column seeking details of foreign assets in the Income Tax Return (ITR) forms for the 2012-13 assessment year.
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.
The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
It is not often that you find a mechanical engineer leading the private banking business of a foreign bank in India.
Yoga guru Ramdev on Thursday launched his second round of indefinite protest in New Delhi demanding bringing back of black money stashed away abroad.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
The BCCI and its officials did not open a separate bank account in South Africa
Despite the rash of reform steps announced over the weekend, Standard Chartered India on Monday sharply lowered its GDP growth forecast to 5.4 per cent for FY'13 from 6.2 per cent earlier, citing slowing consumer demand, an anaemic industry and a weak services sector.
The court had earlier allowed Burman twice to go abroad, including a trip to London to attend his ailing brother there.
Yoga guru Ramdev on Thursday called Prime Minister Manmohan Singh a 'feeble' prime minister and asked his followers in Punjab to participate in his protest against the United Progressive Alliance to be held in Delhi on August 9.
RBI said from data it had compiled as of March 31, 2013, four to six domestic banks would qualify under the D-SIB category.
Accusing the government of large scale corruption, Opposition parties in the Lok Sabha on Thursday asked it to disclose the names of those who have stashed unaccounted money in foreign banks.
It claimed doctors were being paid 'for referring medical tests'.
Reliance to M&M and Bharti and Vedanta, talent migration picks up at all corporate giants
The domestic currency has fallen past the 56-level against the dollar after June 29.
Janata Party President Subramanian Swamy on Monday met Central Bureau of Investigation director and demanded registration of cases against Indians who have allegedly stashed away money in foreign banks.
'I felt that the idea about putting money into bank accounts of the poor was a right one if implemented with sincerity'
Slammed the Centre for trying to shield black money holders, the Apex court has said that the list must be revealed by Wednesday.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Yoga guru Ramdev on Friday asked the people to "teach Congress a lesson" by not voting for its candidates in the upcoming Uttar Pradesh assembly polls because of the party's "failure" in bringing back black money stashed away abroad.
A high power committee comprising heads of various probe agencies and specialised departments has been constituted to monitor the investigation and steps taken to bring back black money stashed in foreign banks, Government told the Supreme Court on Monday.
There is much more that the government can do to track money hidden abroad.
Demand on rise as companies look to expand in Asian, European markets
Despite fears of slow economic growth, the health of their unsecured assets are not so likely to be stressed.
Be aware of the new charges being introduced and transact online to save on costs
Alleging that the Congress government at the Centre was cheating Anna Hazare on the Lokpal Bill issue, Baba Ramdev on Tuesday said that he would campaign against the parties opposing to bring back the black money stashed away in foreign banks.
'Reservation for the private sector is a bad idea.'
Tax Information Exchange Agreements between countries are one way to prevent, or at least curb, the flow of illicit funds.
The Rashtriya Swayamsevak Sangh on Monday lashed at the Centre for its midnight crackdown on protesters, including women and children, at Ramlila Maidan in Delhi, while admitting that it "extended" support to yoga guru Baba Ramdev's agitation.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The integrity committee of the Pakistan Cricket Board has exonerated former captain Shoaib Malik of "any questionable source or activity" vis-a-vis his earnings, paving the way for his inclusion in the national team.
Senior Bharatiya Janata Party leader L K Advani on Thursday reiterated the demand for a white paper from the United Progressive Alliance government on the action it had taken so far the bring back the black money stashed away in foreign banks by India citizens.
The Internal Revenue Service announced on February 8 a special voluntary disclosure initiative designed to bring offshore money back into the US tax system and help people with undisclosed income from hidden offshore accounts.
The issue of black money dominated in Lok Sabha on Wednesday with the Opposition asking the government to bring back an estimated Rs 25 lakh crore stashed away illegally in foreign banks and reveal the identity of depositors.
"Was the government sleeping all these years on the issue of blackmoney," the Supreme Court on Thursday said while criticising Centre's probe restricting to an individual and being evasive about the idea of an investigation by the Special Investigating Team.
In keeping with an announcement made by party leader L K Advani, Bharatiya Janata Party MPs from both Houses of Parliament on Friday submitted declarations to their respective presiding officers stating that they do not have any illegal money stashed in foreign bank accounts.
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