In a notification, the home ministry also said if the amount exceeds, the individuals will now have 90 days to inform the government instead of 30 days earlier.
In what can be good news for hundreds of Indian IT professionals seeking the H-1B work visa, the US' immigration agency has decided to conduct a rare second lottery for the most sought-after visas to decide on the successful applicants who could not make it in the first random selection. The US Citizenship and Immigration Services (USCIS) said on Thursday that a decision was taken after determining that the computerised draw of lots for H-1B visas conducted early this year did not give them enough numbers of the Congressional mandated H-1B visas. The H-1B visa, the most sought-after among Indian IT professionals, is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
The federal agency filed its prosecution complaint against Ayyub before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad (Uttar Pradesh) on October 12.
'It will begin with 16 specified countries. It will be extended later to 70 countries,' says Minister for NRI Affairs Jagdish Tytler.
The Missionaries of Charity is a Catholic religious congregation established in 1950 by Nobel laureate Mother Teresa to help the poor and destitute,
The money-laundering case was filed by the ED after taking cognisance of a CBI FIR against the accused, whom the latter agency had booked for alleged violations of the Foreign Contribution (Regulation) Act (FCRA), 2010 and under section 120B (criminal conspiracy) of the Indian Penal Code.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
The government has cancelled the FCRA registration of nearly 1,900 NGOs for violating various provisions of the law in the last five years. There were 22,762 FCRA-registered organisations till December-end 2021.
His recent research examines contemporary transformation of South Indian Muslims with field-work in Kozhikode and in a number of Gulf countries.
Market regulator Sebi on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms. The announcement comes after the tax haven was put on the "grey list" of Financial Action Task Force (FATF) -- an inter-governmental policy making body that sets anti-money laundering standards.
To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
The case is likely to be handed over to the NIA for probe after registration of a case under the stringent anti-terror law Unlawful Activities Prevention Act.
The CBI had sought the sanction of the government to prosecute the international human rights organisation because of mandatory clause of Section 40 of the FCRA.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The Securities and Exchange Board of India (Sebi) has proposed stricter disclosure norms for certain foreign portfolio investors (FPIs) to bring in more transparency and trust against the backdrop of the Adani-Hindenburg Research saga. Under the new norms, FPIs with an exposure of more than 50 per cent to a single group or with assets of over Rs 25,000 crore will be tagged as 'high risk' and will be required to provide additional information such as full identification of their ownership, economic interests, and control rights. A failure to provide these disclosures will lead to invalidation of the FPI registration.
Under the programme, Pakistanis and some other nationals are required to register with the INS. This has caused anger in Pakistan.
The US has received enough petitions needed to reach the Congressionally-mandated 65,000 H-1B visa cap for the fiscal year 2021 and successful candidates for the most sought-after work visa among foreign professionals, including Indians, would be decided by a computerised draw of lots. The H-1B visa is a non-immigrant visa that allows the US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
The Securities and Exchange Board of India (Sebi) is considering a proposal to allow funds, which are not managed by foreign institutional investors (FIIs) to get themselves registered as FIIs' sub-accounts with the Indian regulator.
Grover had said a summons was issued by the special court in Ghaziabad against Ayyub for January 27 and therefore the matter be listed urgently.
The Delhi high court on Wednesday sought responses from the Aam Aadmi Party and its founding members, including Chief Minister Arvind Kejriwal, on a plea for registration of a criminal case on the ground that the newly formed party allegedly received foreign funding in violation of various laws.
The Supreme Court on Tuesday agreed to hear the petition of journalist Rana Ayyub challenging the summons issued to her by a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in a money laundering case lodged against her by the Enforcement Directorate (ED).
In a bid to pitch India as an uplinking hub, the government on Tuesday announced relaxation in guidelines for compliance for television channels and also made a 30-minute daily public interest broadcast mandatory, mainly for entertainment channels.
Prime Minister Narendra Modi on Friday went from Delhi to Dhaka on a new custom-made VVIP aircraft, using it for the first time on a foreign journey.
A key accused in the infamous PMC bank scam of Maharashtra was caught in Bihar while trying to sneak into Nepal, an immigration official said here on Thursday.
The top court noted many recipients of foreign contributions had not utilised the same for the purposes for which they were registered or granted prior permission under the Act.
The group, headed by former RBI deputy governor H R Khan, has also pitched for liberalised investment cap, review of prohibited sectors for foreign investment for FPIs, permitting FPIs for off-market transactions and review of restriction on sovereign wealth funds for investment in corporate debt securities.
At present, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, covers only resident Indians. The Finance Bill has expanded the definition of assessees to include NRIs.
This non-refundable fee will support the new electronic registration system to make the H-1B cap selection process more efficient for both petitioners and the federal agency, USCIS said.
Mark Scialla had interviewed several people on December 28 and 29 on alleged health issues faced by them due to the now closed Sterlite copper plant. Rambha said the visa clearly stated that the American national should not embark on any work except tourist activities.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
The Union home ministry said it has cancelled registration of 11,319 organisations that had not applied for renewal of registration under the Foreign Contribution Regulations Act by the June 30 deadline this year.
The Supreme Court on Wednesday asked a special court in Ghaziabad, which has summoned journalist Rana Ayyub in a money laundering case lodged by the Enforcement Directorate (ED), to adjourn the proceedings scheduled for January 27 to a date after January 31.
In his statement on the situation in the war-torn country, he said that 22,500 Indian citizens have returned safely from Ukraine.
In his second term in office, UP Chief Minister Yogi Adityanath has retained 34 portfolios.
Last year, in a reply to a question in Lok Sabha, the government informed Parliament that as of 2021, an estimated 13.5 million Indian nationals resided in various countries outside of India. Of these, 8.8 million were in the Gulf countries. Given the pandemic, there hasn't been a significant change in the number of Indians settling abroad, but data between 2015 and 2018 shows that the number of Non-Resident Indians (NRIs) increased 18 per cent in these three years. In 2015, India had 11.4 million Indians settled abroad, which increased to 13.4 million in 2018.
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
The Delhi High Court Tuesday directed the Centre to respond to a plea by LGBTQ couples who are seeking live streaming of proceedings on a batch of petitions to recognise same-sex marriages under the special, Hindu and foreign marriage laws on the ground that the matter is of great national and Constitutional importance.
The bench also sought a report about an inquiry made on the issue.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
The registration was cancelled as Infosys Foundation allegedly did not file income and expenditure statement on foreign funding for the past few years, officials said.
