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 has been advanced and will now be held on June 2.
In an online chat with readers, Investment Advisor Harsh Roongta answered their queries on the ban on Rs 500 and Rs 1000 notes.
The three promoters - Anil Kumar Sharma, Ajay Kumar and Shiv Priya - had diverted Rs 1,500-1,600 crore through bogus methods like loans and advances between group firms at inflated rates.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
'If the RBI liability is extinguished and they no longer remain legal tender, then those Rs 500 and Rs 1,000 notes are worthless paper.' 'Then why should it be a criminal offence to keep that paper?'
Karnataka Congress president D K Shivakumar on Monday appeared before the Enforcement Directorate in Delhi for a fresh round of questioning in the National Herald money laundering case.
The column marked 'miscellaneous' in statements of accounts of Non-Governmental Organisations who receive foreign funds is turning out to be a headache for the Indian authorities. Vicky Nanjappa tells you why
Karnataka Congress president D K Shivakumar on Wednesday said he has been asked by the Enforcement Directorate to appear before it on February 22, while his daughter has been served notice by the Central Bureau of Investigation.
The company releases documentary showing top executives of dozens of realty firms offering to launder black money.
The taxmen provisionally sent orders to attach their properties in Mumbai, New Delhi, Pune, Goa and also over two dozen land parcels across the state with a combined market value of around Rs 1,400 crore
The finance ministry has asked the tax department to impose hefty penalties on those hospitals found with unaccounted cash, and such entities could be booked under anti-money laundering laws and prosecuted, reports Shrimi Choudhary.
The alleged scam pertains to the period when Lalu Prasad was the railway minister in the UPA-1 government at the Centre.
Tax wing scanning cash deposits between Rs 5-10 lakh
Bihar Chief Minister Nitish Kumar on Monday said Mumbai and Amritsar will witness "fireworks" if BJP loses Bihar assembly polls, alluding to its strains with allies.
The Enforcement Directorate on Friday questioned Karnataka Congress president D K Shivakumar in the National Herald money laundering case, officials said.
The All India Anna Dravida Munnetra Kazhagam veteran's criticism of Haasan comes in the backdrop of the actor invoking the legacy of the ruling party's founder and former chief minister, the late M G Ramachandran, and the MNM chief lashing out at government over corruption.
If the fight against black money seems half hearted, the same is not the case with gau raksha, says Subir Roy.
Finance Minister Arun Jaitley who is in Davos to showcase India as an investment destination at the World Economic Forum (WEF), on Wednesday promised India has a "lot in the pipeline" for global investors even as he plans to take up with Switzerland the issue of black money stashed in banks there.
Taxable assets have been defined to include deposits in banks outside India.
Bharatiya Janata Party president's Amit Shah's road show in Kolkata culminated with violence, arson and a police lathicharge. Parts of the city plunged into a welter of violence as his convoy was attacked with stones by alleged TMC supporters from inside the hostel of Vidyasagar College, triggering a clash between supporters of the two parties, officials said.
In what is being described as the 'biggest ever seizure of cash' by an enforcement agency, unaccounted cash -- one report said more than Rs 177 crore (Rs 1.77 billion), another said Rs 257 crores (Rs 2.57 billion), a third said Rs 194.45 crores (Rs 1.94 billion) -- was unearthed from perfume trader Piyush Jain's home in Kanpur.
The best way to curb gold demand is by reducing black money in circulation.
The minister said any declaration made under the law will be protected
The Reserve Bank of India does not have any estimate of alleged illegal gold transactions going on in the country, according an RTI reply.
BJP chief Amit Shah said that the government has brought the country out of policy paralysis.
The Supreme Court on Tuesday refused to interfere with the Bombay high court order granting bail to former Maharashtra home minister Anil Deshmukh in a money laundering case.
Black money Bill: Govt may widen disclosure window to 3-6 months.
Shivakumar, who is in ED's custody since September 3 in connection with a money laundering case, was earlier taken to the Ram Manohar Lohia hospital on Thursday.
The scheme is yet to take off.
Only cash deposits of over Rs 250,000 in bank accounts will be scrutinised by the tax department and in case of mismatch with I-T returns, tax plus 200 per cent penalty would be levied
In an interview to ANI, Union Home Minister Rajnath Singh spoke on various issues, including the Balakot air strikes to the status of Kashmir to the party's manifesto.
In the first of a three-part series Paranjoy Guha Thakurta details the salient features of the Undisclosed Foreign Income and Assets (Imposition of Tax) Act, 2015.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
The former Karnataka minister said the ED has asked him to appear before it in Delhi on Friday by 1 pm and he was considering all legal options.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
The agency also alleged that Deshmukh exercised undue influence to pass favourable transfers and postings of the police officials.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
The department raided more than 35 premises in Maharashtra's capital city on February 25, and the Central Board of Direct Taxes (CBDT) said in a statement on Thursday that 'preliminary investigation indicates that these contractors have evaded income to the extent of Rs 200 crore on account of...malpractices'.
The raid by the ED, which is probing the money trail of the school jobs scam, was conducted late Thursday evening, an official of the agency said.
