Given the international practice, it is inexplicable why the government is going with anonymous electoral bonds.
The total balance in 255 million Jan Dhan accounts now stands at Rs 66,637 crore against Rs 45,637 crore on November 9.
The International Weightlifting Federation (IWF) was plagued by decades of corruption orchestrated by autocratic former president Tamas Ajan, said Richard McLaren after he led an independent investigation into the governing body. McLaren, the Canadian law professor whose findings in July 2016 led to Russia being banned from all international athletic competitions, including the Rio Olympics, told reporters on Thursday that the IWF was rife with corruption. This included vote buying, doping cover-ups and $10.4 million in cash that cannot be accounted for.
CAs not sure if individuals declaring unaccounted money will get immunity from reassessment as these provisions are not covered in the Bill.
The government could carry out the demonetisation exercise over periodic intervals along with its surprise element, says Soumya Kanti Ghosh.
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
EC's special teams have also made a huge haul of 98,312 litres of liquor while 1,563 illegal weapons were also seized during the recent drive.
Voting will be held in 55 seats on Sunday in the penultimate phase of Bihar election, with stakes high for the Bharatiya Janata Party as it had along with its then ally Janata Dal-United bagged majority of seats in last assembly polls.
He said the bearer bonds can be purchased by corporate donors and donated to political parties without revealing their identity.
Sushil Chandra will conduct the UP, Punjab, Goa, Manipur, Uttarakhand elections before he retires in May 2022.
'It is unlikely that foreign portfolio investors (FPIs) might increase their India allocation, given the overweight status for most FPIs.' 'Given the commentary from the Republican Party, an anti-imports approach means money will not flow out of the US.'
Shivakumar, arrested on September 3 by the ED, was produced before the court on the expiry of his 9-day custodial interrogation by the agency.
On the face of it, there could be a bump up in tax filings, but its impact on tax collections is not that straightforward
Crores of new currency notes continue to tumble out of lockers and hidden locations as authorities conduct raids and searches across the country.
The biggest-ever seizure of cash in new currency grew to over Rs 5 crore on Friday even as the Income Tax department said it detected unaccounted income worth Rs 152 crore after it conducted searches in a dozen premises in Bengaluru and other locations.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
As part of Budget 2013-14 proposals, it is considering widening the scope of source-based taxation to more areas to improve reporting mechanism for transactions.
"I have been in this business (banking) for two decades. While doing business nothing wrong has been done. However, irregularities may happen. If irregularities have happened, there is punishment for it. I am ready to face punishment," state Cooperatives Minister Subhash Deshmukh said.
What was recovered from Bhajiawala family: Rs 1.45 crore cash, of which about Rs 1.05 crore was in new currency notes, bullion worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore.
Shivakumar's lawyers Abhishek Manu Singhvi and Dayan Krishnan opposed the ED's plea for custodial interrogation saying that he had joined the probe and never absconded.
The raid was carried out by the Crime Branch at the office of T&T Law Firm on Saturday night, the officer said.
Tax collection at source on purchase, in cash, of bullion or jewellery in excess of Rs 2 lakh is one step announced.
'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
Despite a strong anti-corruption mood, where election costs are seen as the driver for graft, politicians don't change their spots. Unsurprisingly, this trend of unleashing cash can be expected to continue in this Lok Sabha elections too, says Mahesh Vijapurkar.
Sources said the government was keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30.
Lead players in the poll-bound state are understood to be re-working their strategies on how to manage the campaign with less money with Rs 500 and Rs 1,000 notes becoming illegal tender in one stroke.
The Supreme Court on Monday directed the Central Bureau of Investigation to file remaining five of the six charge sheets by March 28 in the coal block allocation scam, declining to grant more time sought by the agency for this purpose.
As per a notification issued on Wednesday, banks, co-operative banks and post offices will have to report to the tax department cash deposits exceeding Rs 50,000 in a single day or aggregating to more than Rs 2.5 lakh during the period November 9, to December 30, 2016.
"The response (to the PMGKY) has not been so good...about Rs 5,000 crore of income was declared in PMGKY," Revenue Secretary Hasmukh Adhia said.
More than 5.79 crore voters will seal the fate of 3,740 aspirants including arch rivals Chief Minister Jayalalithaa and Dravida Munnetra Kazagham president M Karunanidhi, as the stage is set for polling in 233 assembly seats in Tamil Nadu under tight vigil on Monday.
Use cheques, cards to check black money, says Jaitley.
Former Tamil Nadu Chief Secretary P Rama Mohana Rao, whose house and office were searched by Income Tax officials in connection with a tax evasion probe post demonetisation, was on Saturday admitted to a private hospital here after he complained of chest pain.
Realtors split on possibility of price fall, gold may replace cash in secondary deals.
In the second half of April, the discount on gold came down to $3 an ounce.
DRS to be used in IPL this year: Rajeev Shukla
In continued post-demonetisation crackdown on black money, stashes of new notes continue to be seized in several states, including Rs 1.05 crore from a tea seller-turned-financier in Gujarat and nearly Rs 90 lakh in Andhra Pradesh.
According to experts, declarations can be made with regard to capital gains or business income, which have escaped assessment
Since the note ban was announced auction houses, galleries and art fairs are witnessing lukewarm sales -- even with masters like Souza, Raza and Padamsee. Ritika Kochhar reports.
The PMGKY will not allow declarants to use claims made for refunds for advance taxes paid, tax deducted at source and tax collected under the scheme.
Tax wing scanning cash deposits between Rs 5-10 lakh
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