Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore.
'If people show laxity by not wearing masks or wearing it inappropriately or violate social distancing norms, and if law enforcement agencies do not penalise and ensure violations do not increase in quantum, then we are certainly in for a trouble. And, the next wave could be worse than the second wave situation'
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
The total revenue earned by central government and state governments after regular settlement in December was Rs 43,851 crore for CGST and Rs 46,252 crore for SGST.
Aiming to intensify government's drive on black money, the PMO has asked the revenue department to look for ways other than bilateral tax treaties to bring back funds stashed abroad.
The Enforcement Directorate has registered a money laundering case against Karti Chidambaram, son of former finance minister P Chidambaram, and others, taking cognisance of a recent CBI FIR against them.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
Attempts are being made to balance the need for health of the sector, consumer interest while complying with the Supreme Court order on statutory dues.
The I-T dept has issued 87 notices under section 24 of the said Act
Either drivers were blissfully unaware of the requirement or they hadn't bothered to get one installed in their vehicle.
The Panama Paper leaks were originally revealed by the International Consortium of Investigative Journalists on April 4, 2016, following which, the government had set up the MAG to probe the matter.
Perhaps the BJP will win the UP elections, but that will be a political win and will leave the problems on the ground from the economy to national security to disaffected farmers and minorities intact, asserts Aakar Patel.
They said Rajeev Shamsher Bahadur Saxena wanted in the Rs 3,600 crore AgustaWestland VVIP choppers money laundering case and lobbyist Deepak Talwar wanted by the Enforcement Directorate and the Central Bureau of Investigation in a case of misusing over Rs 90 crore taken through the foreign funding route, were brought in a special plane to Delhi around 1:30 am.
They will have to reply within 10 days to avoid any notice from the tax department or further enforcement action.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
In this moment there has to be honest acknowledgement of how so many in our community willingly voted for another four years of Trump, based on the morally flimsiest of reasons, points out Suleman Din.
The taxman carried out a total of 677 search, survey and enquiry operations
Financial secrecy takes place when there is a refusal to share this information with the legitimate authorities, in order to tax wealthy taxpayers appropriately or to enforce its criminal laws.
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
'Harassment' is the objective, not detention.
The ED had summoned Patel, 70, twice for questioning in the case but the Congress Rajya Sabha MP from Gujarat later cited prevailing COVID-19 guidelines that advises senior citizens to stay indoors in order to remain safe from the pandemic.
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
In 2016, almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from just one country, China, which was by far India's largest source of imports in that year
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The I-T Department has provided a list of 67 big tax defaulters on its official web portal
After the case was registered, the CBI carried out searches at four places in the national capital and Bengaluru.
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
The company, which is one of the strategic partners for WEF annual meeting at Davos, hosted one of the first company receptions for this year's meeting on January 22.
The Enforcement Directorate on Monday detected cash deposits totalling over Rs.104 crore in an account belonging to the Bahujan Samaj Party and Rs 1.43 crore in an account belonging to party Supremo Mayawati's brother Anand in a branch of United Bank of India in New Delhi, sources in the Enforcement Directorate said.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
ITC has introduced differentiated cigarettes like Gold Flake Indie Mint, Gold Flake Neo and Classic Rich & Smooth in the premium end. Godfrey, too, introduced flavoured variants like Four Square Clove Crush in the mid-tier segment and has seven variants of the Marlboro brand for India.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
Prime Minister Narendra Modi on Tuesday slammed Chief Minister Mamata Banerjee for seeking en bloc voting by Muslims for the Trinamool Congress and said had his party made a similar appeal to Hindus, it would have been criticised and censured.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion, they said.
Notification, FAQs likely after FM Jaitley returns from the US
While the exact figures of the total number of taxpayers who will be honoured is not known, officials said these numbers would be few lakhs.
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
