The first high-level meeting of the Special Investigation Team on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held in New Delhi on Monday.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
The finance minister also hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap.
The income tax probe against the Congress leaders has arisen from the investigation into the private criminal complaint filed by Bharatiya Janata Party leader Subramanian Swamy before a trial court in connection with the National Herald case, in which the trio are out on bail.
Nokia may now not sell its Chennai unit.
Protests marked by stray incidents of stone pelting erupted during a bandh in Kolar district of Karnataka over the death of an IAS officer who allegedly committed suicide, even as police said they were probing his death from "every angle".
A fundraising boom in the domestic market and tightening of the regulatory framework for overseas issues are responsible for this trend.
If the fear of ED could drive the powerful people of today to be honest or at least be minimally corrupt, will it not be a great thing for our nation?, asks Sudhir Bisht.
Slammed the Centre for trying to shield black money holders, the Apex court has said that the list must be revealed by Wednesday.
This marked an increase from 2,63,000 at the end of 2013
The SIT was created by Supreme Court and notified by the government last year to curb black money.
Swiss police in February searched HSBC offices in Geneva as part of its probe.
Reacting to the development, Naidu said such crises were not new to the party.
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
Finance minister attempts a clean-up job, keeps projected expenditure growth low.
As Deveshwar announces his decision to step down, he has a rich legacy to leave behind.
No mention of cab aggregators in GST bills
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28 per cent plus cess.
GST revenue remained above Rs 1 lakh crore for the second straight month in August at over Rs 1.12 lakh crore, 30 per cent higher than the collection in the year-ago period, the finance ministry said on Wednesday. "The gross GST revenue collected in the month of August 2021 is Rs 1,12,020 crore of which Central GST is Rs 20,522 crore, State GST is Rs 26,605 crore, Integrated GST is Rs 56,247 crore (including Rs 26,884 crore collected on import of goods) and Cess is Rs 8,646 crore (including Rs 646 crore collected on import of goods)," the finance ministry said in a statement. The mop up in August is, however, lower than Rs 1.16 lakh crore collected in July 2021.
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Companies were consulting law firms and consultants to understand the Bill.
While people have paid the price for the disruption it caused, now is the time to reap its benefits, says T N Ninan.
Harry Redknapp resigned as manager of struggling Queens Park Rangers.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
A proposal for creation of seven Customs Overseas Intelligence Network units is pending with the Ministry of External Affairs.
IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
Its officers would wear black bands on Monday, which is also Martyrs day, the IRS Association (Customs and Central Excise) has said.
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
GST rates would depend upon whether the commodity is used by a rich person or a common man
Terming Prime Minister Narendra Modi's decision to demonetise high value currency notes as "startling and bold", Chinese official media has said it is "far from enough" and India may "look at ideas" from China's crackdown against corruption which has shown "efficiency".
The broad trends of GST collections will make you wonder if indeed the biggest indirect tax reform in the country has led to a real improvement in revenues, notes A K Bhattacharya.
There are still bumps in the road ahead for Swiss banks.
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