In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
She left the agency's office in central Delhi just before 7 pm on Tuesday after recording her statement.
Congress leader Rahul Gandhi was questioned for over eight hours by the Enforcement Directorate for the second consecutive day in the National Herald money-laundering probe and was again summoned on Wednesday, even as the opposition party continued its protests and sparred with the BJP, accusing it of conspiring to defame the Gandhi family through the ''false'' case.
'We have not hijacked the party, the NCP and the Congress have hijacked it'
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
The fourth day of questioning was deferred from June 17 to this day after Gandhi requested the agency for postponing the session as he wanted to be with his mother and Congress president Sonia Gandhi in hospital, where she is admitted for post-Covid issues.
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
Resisting the Supreme Court's attempt to revisit the 2016 demonetisation exercise, the government said on Friday the court cannot decide a matter when no tangible relief can be granted by way of "putting the clock back" and "unscrambling a scrambled egg".
While agency sources informed that Gandhi recorded his statement and checked its transcript minutely, Congress leaders said the investigators took multiple breaks during his questioning
The income tax department was committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers' charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant.
While the common man is facing all these issues, those in power at the Centre are not ready to pay attention to these issues
While the Congress party has said that the deal was transparent as payment of Rs 2 crore was received by Vadra from Kapoor through cheque and was reflected in income tax returns, the ED is probing if the painting was owned by her or the AICC.
The Congress alleged that the money-laundering law has been weaponised to target and humiliate people, and urged the Supreme Court to decide soon on the matter concerning the National Herald-Associated Journals Limited case.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
Yadav said all parties have joined hands against the BJP in the Bihar assembly, and added "now this is going to be replicated across the whole country".
It is expected that her statement will be recorded under the Prevention of Money Laundering Act and she would be confronted with documents and statements made by Shivakumar with regard to a trip to Singapore he made with his daughter in 2017.
Non-BJP chief ministers are retaliating. If the Centre can use its agencies to threaten, intimidate and jail its rivals, so can they. The fightback will get more intense, observes Shekhar Gupta.
If you are a budding developer and interested in Web3, chances are that you will be headed to one of India's largest-ever meetings of Web3 developers, being held by Polygon, a Web3 platform. The company's ongoing "Web3: Made in India Tour" is expected to see close to 4,000 developers coming together at the inaugural Polygon Connect event in Bengaluru on December 1. The event highlights the growing dominance of Web3 developers from India, as well as the sector's rising interest to investors, who continue to invest in startups despite a funds crunch.
The Enforcement Directorate on Monday arrested Delhi minister Satyendar Jain in connection with a money laundering case, officials said.
Launching a scathing attack on Harris, the Trump campaign said the Americans will resoundingly reject the absymal failures of Biden and Harris. 'Joe Biden is no moderate, and with Harris as his 'political living will,' he is surrendering control of our nation to the radical mob with promises to raise taxes, cut police funding, kill energy jobs, open our borders, and appease socialist dictators,' Katrina Pierson, Trump 2020 campaign's senior advisor, said in a statement.
The key risks against a fast recovery would include long delays in business travel resumption, delays in commissioning, etc.
They said the 22-year-old management graduate will be questioned and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
Journalist Rana Ayyub rejected allegations on Friday that she "misused" donor funds raised in the wake of the Covid-19 pandemic, saying money-laundering charges levelled against her are "preposterous and wholly mala fide".
Jain, 57, is the minister for health, power, home, PWD, industries, urban development, flood, irrigation and water in the Arvind Kejriwal-led government.
Malik also alleged that Rajput's girlfriend Rhea Chakraborty was implicated in a 'fake case' by the NCB.
Sanjay Bhandari, an accused arms dealer wanted in India on money laundering and tax evasion charges, is pursuing a separate legal battle of his own in France over an alleged unpaid cut from a large Indian defence contract dating back over 10 years, according to a UK media report.
Even today when news organisations and their owners have stooped before the powers that be when they were only asked to bend, Prannoy is still standing tall, asserts Sanjay Ahirwal, , former managing editor, NDTV Worldwide.
Hours after the AAP announced its night-long sit-in against the Lieutenant Governor, BJP MLAs also started an overnight dharna on the assembly premises demanding the sacking of ministers Manish Sisodia and Satyendar Jain over alleged corruption.
Investors continue to back-up equity mutual funds in June as such schemes attracted a net inflow of Rs 15,498 crore on strong flows from systematic investment plans despite volatility in the stock market and relentless selling by Foreign Portfolio Investors (FPIs). This also marked the 16th straight month of positive inflow in equity schemes. Inflows into equity mutual funds in June was lower compared to the net inflow of Rs 18,529 crore seen in May, data from the Association of Mutual Funds in India (AMFI) showed on Friday.
The action follows multiple summons issued by the ED against Raut, the latest being on July 27.
'Gift-giving' - from free dinners and drug samples to promotional merchandise - seems to be driving drugmakers' marketing - a marketing prescription deeply entrenched in the industry. This is a well-oiled racket that sees pharmaceutical (pharma) companies 'gifting' doctors to push their respective drugs under the guise of marketing. But is there a cure in sight to end this unhealthy alliance? The recent controversy following the income-tax raids on Bengaluru-based drugmaker Micro Labs, makers of popular paracetamol brand Dolo-650, has brought this to the fore, again.
'By naming Tejashwi as the next CM candidate, he has put us in a dilemma.' 'Who will lead us in 2025?' 'What will happen to the party after 2025?'
A pan-India 'fraud-to-phone' network has been busted by security agencies, which have also arrested eight people and seized nearly 300 new mobile phones bought with stolen funds, officials said on Tuesday. Moreover, 900 mobile phones, 1,000 bank accounts and hundreds of unified payment interface (UPI) and e-commerce IDs of this gang have been identified and are under investigation. Nearly 100 bank accounts, and debit and credit cards have been frozen by the security agencies so far, officials said.
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 first -- and only -- United States vice presidential debate between Mike Pence and Kamala Harris is over. It was a far more civil affair than last week's debacle between US President Donald Trump and former US Vice President Joe Biden. The tone for much of the 90 minutes was a marked contrast to last week's chaotic and bitter slam-fest between their running mates.
Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.
A photograph of Rashtriya Swayamsevak Sangh chief Mohan Bhagwat sitting with Samajwadi Party patriarch Mulayam Singh Yadav has set tongues wagging in poll-bound Uttar Pradesh, with the Congress taunting that the S in SP means the Sangh.
While the Opposition is making a belated effort to form a joint front against the BJP, Mamata's ambiguous stand has created confusion, observes Virendra Kapoor.
Upset over alleged 'personal' remarks made against her, Samajwadi Party MP Jaya Bachchan on Monday lashed out at the ruling Bharatiya Janata Party in Rajya Sabha with a 'curse' that it will face bad days soon.
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