Verification process to be made robust after detection of frauds
Brazilian prosecutors filed a formal complaint against Neymar and his father on Tuesday for tax evasion and providing false information.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
Mallya remains on bail pending his UK High Court appeal, now scheduled for February 2020.
The Centre's revenue from GST registered a decline of 10 per cent in 2017-18 compared to revenue of subsumed taxes in 2016-17.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Barcelona and Brazil striker Neymar has launched an attack on his former club Santos and spoken out in support of his father, insisting he had the right to make millions from the player's transfer last year.
Silvio Berlusconi has approved a deal to sell 48 percent of soccer club AC Milan to a group led by Thai businessman Bee Taechaubol, a historic change for the team which the former Italian prime minister has owned since the 1980s.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
The agency had called him a hostile witness after he made the allegations.
Enforcement Directorate is jointly probing the case.
To improve compliance, govt may introduce lottery reward for filing GST. The Consumer Welfare Fund, where anti-profiteering proceeds are deposited, will be used to reward the lucky winners on monthly and annual bases. The prize money, yet to be fixed, may run into several lakhs of rupees for the annual draw, and about Rs 50,000 for monthly draws.
Former Italian Prime Minister Silvio Berlusconi said on Saturday more time is needed to seal an accord over a sale of a stake in AC Milan with Thai businessman Bee Taechaubol but said he could retain control of the soccer club.
Employers will now need to furnish detailed break-up of exemptions that an employee has claimed.
After the Satyam scam, the role of chartered accountants has come into focus again. This time the Income Tax Department has found that CAs have given false certificates, enabling Non-Resident Indians and foreign nationals to evade taxes in India.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
The French taxman is delighted about the prospect of Brazilian soccer star Neymar joining Paris St Germain, the minister in charge of France's public accounts said on Thursday.
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
Former head of McKinsey & Co,c, is not alone in writing a book on his life after serving a prison term.
A summary of sports events and sports persons, who made news on Tuesday
The five Ahmedabad-based call centres that made calls to people living in the US are Hglobal, Call Mantra, Worldwide Solution, Zoriion Communications and Sharma BPO Services.
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
Income Tax department has sought prosecution powers in the proposed Direct Taxes Code for taking effective action against tax evaders.
CBI sources said the shell companies were allegedly being used by the suspects to divert loan funds meant for specified purposes, creating fake invoices, and 'round-tripping' of funds to evade taxes and generate black money.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
The agency has so far seized diamonds, gold jewellery and other precious stones worth Rs 5,716 crore in the case and summoned Modi and Choksi, the promoter of Gitanjali Gems, to appear before it on February 23 at its Mubai zonal office.
Barcelona forward Neymar, his parents and two of the club's executives should stand trial for alleged corruption, Spain's High Court said on Monday as it wrapped up a fraud investigation into the Brazil international's transfer to the Catalan team. The case stems from a complaint by a Brazilian investment group, DIS, which owned part of Neymar's transfer rights and which alleges it received less money than it was entitled to.
Lionel Messi came off the bench to inspire Barcelona to a 3-1 win over a dogged Leganes side on Sunday, creating one goal and scoring another to keep the Catalans five points clear at the top of La Liga.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
'I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,' Mallya said on Twitter.
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
The Income Tax department on Tuesday issued an advisory asking taxpayers not to share their personal financial details over email or phone.
'It could take at least a couple of years for his case to go through the entire run of the British judiciary.'
