It has conducted searches against four bureaucrats based in Uttar Pradesh and Uttarakhand over the last three days.
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
According to the agency, several of the attached properties were registered in the name of shell companies and persons acting as proxies for Chatterjee.
The Enforcement Directorate on Monday seized three offices in a prime location in Mumbai, valued more than Rs 41 crore, as part of a foreign exchange violation probe against a businessman whose name figured in the Panama Papers.
Since the RBI is the 'lender of the last resort', as per terms of arrangement, Yes Bank would have to exhaust immediate liquid assets before accessing this fund.
All India Anna Dravida Munnetra Kazhagam chief J Jayalalithaa could not "satisfactorily account" for immovable properties and pecuniary resources of the value of Rs 53.6 crore when she was the Chief Minister from 1991 to 1996, the Special Court that sentenced her to four years in jail has held.
There is no proposal to modify income tax returns forms, finance ministry sources clarified when asked to comment on news reports that the purported statement of financial transactions expansion would result in the filing of high-value financial transactions in ITR by the taxpayers themselves.
The members include senior lawyer K Parasaran, Jagatguru Shankracharya, Jyothishpeethadheeshwar Swami Vasudevanand Saraswati Ji Maharaj from Allahabad, Jagatguru Madhavacharya Swami Vishwa Prasannatheerth Ji Maharaj, Pejawar Math in Udupi, Yugpurush Paramanand Ji Maharaj from Haridwar, Swami Govinddev Giri Ji Maharaj from Pune and Vimlendra Mohan Pratap Mishra from Ayodhya.
GST necessarily includes service tax, but VAT can only be on goods without including service tax
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
In the first tranche, the department will send out letters in 100,000 cases where the money spent is at least Rs 1 crore (Rs 10 million) each a year.
Since 2014, India has left its moorings as a pluralist, modern, secular State because that is how the BJP wants it to be, notes Aakar Patel.
Kapoor, 62, and the Wadhawans were arrested by the agency in this case early this year and they are in judicial custody at present.
The crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years.
The exhaustive list was uploaded on the official web portal of the department.
The agency's case is based on a National Investigation Agency complaint filed against the accused and Pakistan-based organisation Falah-i-Insaniyat Foundation.
The government is auctioning 42 coal mines among 204 coal blocks.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.
The PMGKY will not allow declarants to use claims made for refunds for advance taxes paid, tax deducted at source and tax collected under the scheme.
The quarrel between Karnataka State Handicrafts Development Corporation Managing Director Roopa, an Indian Police Service officer, and Indian Administrative Service officer Sindhuri, the Muzrai Department Commissioner, reached the office of the Chief Secretary Vandita Sharma, with both submitting petitions seeking action against each other.
Some of the defaulters have not paid up amounts as small as Rs 15,000, while the majority of individual penalties are worth a few lakhs of rupees and a few others amounting to a few crores of rupees.
The finance ministry is seeking to speed up deals with outside investors.
Go cashless. Go clean, say I=T to people.
In the 2015 bypoll in the same RK Nagar seat, she had declared total assets of Rs 117.13 crore.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
The total worth of Assam Chief Minister Sarbananda Sonowal's assets, both movable and immovable, have increased by over 71 per cent since the last assembly polls in 2016, despite not having bought any new immovable assets.
A bench of Justices S C Dharamadhikari and B P Colabawalla summoned Maharashtra home department's additional chief secretary on March 28 to explain the cause of the slow progress made in the case.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
Polling will be held on November 17, 20, 24, 27 and 29 and December 1, 4, 8 and 11 from 8 am to 2 pm.
Proceeds may be used to partly pay off its Rs 46,570-cr debt
Shops and business establishments were closed across the Valley while all kinds of transport remained off the roads due to the strike called.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
Violations of the act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
New ITR form may be simpler, but some changes could stump you.
Giving more freedom to individuals travelling abroad, they may soon be allowed to spend $2 lakh overseas in a year as against the present ceiling of $75,000.
Lalu expressed his resolve to unite the opposition against Bharatiya Janata Party in the next general election.
Recently, Enforcement Directorate (ED) attached assets worth Rs 757.8 crore of Amway India Enterprises in connection with an alleged marketing scam. It claimed that Amway was running a multi-level marketing scam. The ED provisionally attached immovable and movable properties worth Rs 411.83 crore and bank balances of Rs 345.94 crore from 36 different accounts belonging to Amway. Data from the Department of Economic Affairs shows that in 2021-22 (until December 2021), ED had provisionally attached Rs 8,989.3 crore worth of assets.
The ED said AB Exports Pvt Ltd is a "shell" or fake company owned by Prasad's son and Bihar deputy Chief Minister Tejashwi Yadav and Chanda Yadav (another daughter of the RJD chief) and its registered address is the bungalow located in the New Friends Colony area.
Penalties for undisclosed foreign income and assets extend up to 300%.
