Third parties can be used to launder the proceeds of fraud schemes by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
Complaints were received by the Commission on possibilities of inducement of electors by distributing cash and gifts in innovative forms like tokens, prepaid phone recharge coupons, newspaper subscription, milk tokens.
The Rs 5,600-crore (Rs 56 billion) NSEL scam could have been averted had its top management and other functionaries "performed their duties and exercised due diligence" to check the dubious activities of defaulting firms which have been alleged to have cheated numerous investors, investigation by Enforcement Directorate (ED) has revealed.
A combative Rao, who claimed the I-T search warrant did not have his name, repeatedly invoked the legacy of former chief minister, the late J Jayalalithaa, and asked if raids would have occurred at his office had she been alive.
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.
The Himachal Pradesh High Court on Thursday restrained the Central Bureau of Investigation from arresting Chief Minister Virbhadra Singh and his wife Pratibha Singh in connection with the disproportionate assets case but allowed the enquiry in the matter to proceed.
Beleaguered businessman Vijay Mallya on Thursday told the Supreme Court that banks have no right over the information of his overseas movable and immovable assets as he was an NRI since 1988.
Congress charged the entire BJP and the government with "aiding and abetting" Lalit Modi, a fugitive.
Based on the holding period, the profit you make is liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.
'Votes-for-notes no longer only means cash and goodies for fence-sitting voters,' points out Sunil Sethi.
Earlier this month, the CBI registered a Preliminary Enquiry against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded FTIL and MCX, among others.
NRIs could run into difficulties if they possess discontinued currency notes amounting to a high value.
The Budget has changed the rules for Indian citizens and persons of Indian origin visiting India. Instead of 182 days, the number of days has been reduced to 120. You will be treated as a resident of India for tax purposes if you stay in the country for more than 120 days in a financial year and 365 days in the past four years. One consequence of the change will be that people of Indian origin who reside outside India will be able to spend a smaller number of days in the country if they wish to keep their non-resident status intact, points out Sanjay Kumar Singh.
TTV Dinakaran could be in more trouble as I-T officials have found a connection between him and Jaya TV and other Jayalalithaa companies, reports Aditi Phadnis.
This would be a practical way of bringing a huge sum of money.
Accusing the government of spreading misinformation in the National Herald case, the Congress said it was proud to be associated with the newspaper that stood up in pre-independence times against the British for throttling free speech, similar to the present day climate.
The government has ruled out amending the RTI Act to give immunity to political parties from providing information after the recent CIC's landmark order brought them under the ambit of the transparency law.
A bench headed by Chief Justice H L Dattu agreed to hear the CBI's two petitions on reopening of the court after the Dussehra break.
CBDT to reopen cases, conduct detailed inquiry of taxpayers who invested in such shares
The amount saved in a PPF account is actually saving for a rainy day.
God forbid, if bad days fall upon someone and debts pile up. A fascinating excerpt from Anil Lamba's Financial Affairs Of The Common Man: Master The Art Of Personal Finance Management.
The I-T department had said Vodafone India under-priced shares in a rights issue to its parent. The tax demand was for the two financial years ended March 2011.
Let start-ups be start-ups until they become grown-ups, let young entrepreneurs be experimental and bold, let VCs do their job, but for God's sake, the nation must prime the real grown-ups to solve the imminent issues., says R Gopalakrishnan.
BJP alleged that it was an attempt by a "grand alliance of most corrupt parties" to ensure that its "corruption" was not exposed.
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
Fraudulent emails exhorting people to deposit cash for reward are on the rise.
Will the AIADMK acknowledge the role of CAA and the anti-CAA protests, both inside the state and outside, as among the causes for the current electoral reversal, as many in the party now want? It is unlikely to be so, but then the pressure will increase on the leadership to reassess the BJP alliance at one level and the 'blind support' for Prime Minister Narendra Modi's controversial policies on the other, says N Sathiya Moorthy.
The Income Tax department is likely to initiate prosecution against close to 300 people whose names have been submitted to the Supreme Court in connection with the probe into alleged black money accounts in HSBC Bank in Geneva.
While critics and protestors have multifarious arguments to offer, the defence of CAA has been uni-dimensional and uni-focussed as has been the case with most policies of the Modi government and the political positions of his party. But to be drawn into an issue that has assumed more than local and national dimensions, Rajini has knowingly or otherwise, taken the plunge and in favour of the BJP -- or, so it has come to be seen, says N Sathiya Moorthy.
Such schemes try to exploit an anomaly in taxation, but aren't in violation of laws, experts say.
The Public Provident Fund is one of the safest and convenient modes of investment.
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
E-auaction cannot totally end corruption in the system.
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in Parliament shortly.
In more trouble for Finnish mobile firm Nokia, whose immovable assets were attached in an alleged tax evasion case recently, the Income Tax department is set to issue fresh demand notices for payment of taxes to the tune of Rs 1,000 crore (Rs 10 billion).
The new penalty regime could create a fresh set of complications for tax payers.
Avoid getting into a debt trap by using your credit judiciously. Anil Rego explains how
The ban on liquor advertising is an example of policy hypocrisy at play.
Govt depts, banks prone to information leakage.
Jaitley said, "I welcome this investigation. I think it is a healthy step that these kind of exposes are being made. I have been repeatedly saying that the world is now going to increasingly become more transparent, countries are cooperating with each other and slowly all this information is going to come out as a result of various global initiatives which have been launched."
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
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