The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
Indian companies having their management in the country would be taxed in India as per Indo-Mauritius Double Taxation Avoidance Convention Agreement even if they are incorporated in Mauritius
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Despite average performances from Bobby Deol and Mugdha Godse, much of the credit goes to the production team.
Interestingly, the shares sold by Citigroup Global Mauritius in the open market through the block deal counter of the Bombay Stock Exchange have been bought by another private fund house Credit Suisse (Singapore) at the same price.
India and the US are among the countries excluded from the list of nearly 60 low-risk countries.
'Although he was bed ridden most of the time he was in the vessel and unable to move on the upper deck, his condition is stable.'
The Indian Football team have now broken all records having won eight games on the trot since the AFC Asian Cup Qualifiers Playoff Round 1 match against Laos on June 2, 2016.
The government is planning to comprehensively revise tax treaties with as many as 25 nations, including Switzerland and Mauritius, and re-negotiate with 51 others, to trace black money.
'The international community is moving away from harmful tax practices.'
'India is a pharma dada. We can manufacture enough for our people and for the world.'
Goldman Sachs wanted the govt to give it a blanket approval for any further investment in non-banking financial activities in India.
The Enforcement Directorate has stepped up its probe into a foreign exchange violation case against former Indian Premier League boss Lalit Modi.
The Foreign Investment Promotion Board has pulled up the department of revenue for rejecting all foreign direct investment proposals in which funds are routed through Mauritius and said it has taken a conscious policy decision to overrule such objections.
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
Social media posts from your favourite celebs
Private fund house Citigroup Global Markets (Mauritius) has hiked its stake in India Infoline, a stock brokerage firm, to 8.42 per cent after buying shares totaling Rs 1,424.17 crore through an open market transaction.
Real estate development on Mumbai airport land and the work on Navi Mumbai airport have been inordinately delayed, which have prompted rating downgrades and raised questions on its financial capabilities. It is also trying to stave off Adani group's entry as a shareholder in the Mumbai airport project.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
The turmoil in financial markets seems to be affecting the global expansion plans of Financial Technologies, promoter of top domestic commodity bourse MCX, and trading at its overseas exchange ventures in Singapore, Mauritius and Bahrain may get delayed by about a year.
Here are the world's most courteous, friendly, helpful and efficient airline crews from each continent.
Don't settle for an ordinary babymoon. Get inspired by these six celeb-inspired destinations to visit before your due date.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
They were chargesheeted for alleged offences punishable under section 120-B (criminal conspiracy) of IPC and under relevant provisions of the Prevention of Corruption Act.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
The court extended the interim protection granted to Chidambaram and his son, Karti, till December 18.
Three suspected associates of Karti --Bhaskar Raman, Ravi Vishwanathan and Mohanan Rakesh -- are also being questioned
His father, P Chidambaram, said he will return after a few days.
Eminent Indian-origin academician Srikant Datar has been named as Dean of Harvard Business School, succeeding Nitin Nohria and becoming the second consecutive dean hailing from India to lead the prestigious 112-year-old institution. Datar, an alumnus of University of Bombay and Indian Institute of Management, Ahmedabad, is the Arthur Lowes Dickinson Professor of Business Administration and the senior associate dean for University Affairs at Harvard Business School (HBS). He will assume charge as the school's next dean on January 1, president Larry Bacow said.
Enjoying the snow away from the Mumbai summer!
The South Asian nations could script a new history of cooperation and prosperity that could serve as an example for other nations, notes Dr Rahul Mishra.
Prime Minister Narendra Modi on Friday flew into Colombo in the early hours for a historic visit during which he is expected to hold talks with the country's top leadership.
P V Sindhu and K Srikanth have been given the top billing in the respective women's and men's singles badminton competitions of the Commonwealth Games
Take a dip in water with Bollywood!
Introduced in 2012, the General Anti-Avoidance Rules, were aimed at companies routing money through tax havens such as Mauritius, but implementation was delayed after an uproar from investors who feared harassment from tax authorities.
Mumbai-based Pratibha Shipping Company, which owns six tanker vessels, has secured a contract from Mangalore Refinery & Petrochemicals, a subsidiary of ONGC, for transporting fuel to Mauritius for three years.
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