I-T returns data show 83% of the Congress' and 65% of the BJP's total income was from anonymous benefactors.
Journalist Rana Ayyub rejected allegations on Friday that she "misused" donor funds raised in the wake of the Covid-19 pandemic, saying money-laundering charges levelled against her are "preposterous and wholly mala fide".
More than Rs 8 crore unaccounted cash has been seized in subsequent raids at various locations by Lokayukta. The arrested officer's father is Madal Virupakshappa, the MLA representing Channagiri constituency in Davangere district of the state.
The bill would prohibit unaccounted money from being pumped into the sector and as now 70 per cent of the money has to be deposited in bank accounts through cheques.
The Bombay high court on Tuesday dismissed a public interest litigation seeking a disproportionate assets case against former Maharashtra chief minister Uddhav Thackeray and his family, observing that it sought a "roving enquiry".
The two notices, which have listed virtually similar wordings, say that prima facie the manifestos of the two parties 'have not substantially fulfilled the guidelines of the Commission'.
A bench headed by Justice T S Thakur asked Delhi government to issue notification by August 4 for converting the conference room into jail which can be used by Roy and two jailed directors of Sahara for 10 working days from 06:00 AM to 08:00 PM for holding negotiations with prospective buyers of hotels in New York and London.
Raids are being carried out across the country by the Income Tax department in the wake of the burgeoning fake currency racket post demonetisation, as currencies both new and old have been seized in large amounts from Bengaluru, Panjim and Faridabad besides the national capital.
A government can't just take away public money, and the RBI can't extinguish its liability. 'The RBI has to honour the value any time a person with legal and taxed money lays claim on the value.'
Amid tax treaty uncertainties, India's share of the number of investments made by global companies through Mauritius has almost halved in the past two years even as Africa's share has surged significantly.
Those earning over Rs 50 lakh a year need to disclose all jewellery and cash in their returns, says Tinesh Bhasin.
The Thackerays sought dismissal of the PIL on the ground that it was filed on assumptions and without any factual foundation.
Prime Minister Narendra Modi's announcement about demonetising Rs 1,000 and Rs 500 currency notes was hailed as a "bold step" by President Pranab Mukherjee and the BJP, which called it a "surgical strike" on black money, but his rivals denounced it as a "heartless and ill-conceived" decision that would inconvenience people.
The ED had launched raids on Friday at multiple locations linked to Prasad's family members including that of his son and Bihar Deputy Chief Minister Tejashwi Yadav in Delhi.
The government has seized over Rs 1,764 crore (Rs 17.64 billion) of unaccounted income in the last three financial years, with sectors like real estate, manufacturing and mining generating the most of it, Parliament was informed on Tuesday.
The Lok Sabha will start a discussion on the Budget on Wednesday.
'You are unable to attack creation of black money.' 'You have not stopped that, but are now coming up with such rules.' 'It is so stupid and unbelievable.' 'This ordinance is a very scary way of going about it.'
Those evading taxes could soon find tax officials at their doorstep, with a rather insightful account of their big purchases.
While the Congress alleged that the Vidhana Soudha has become a shopping mall and the BJP stood for 'Broker Janata Party', Chief Minister Basavaraj Bommai reminded the opposition how Rs 25 lakh cash was allegedly seized from the staff of Congress MLA from Chamarajanagar C Puttarangashetty four years ago.
The theory that all banned notes will come back into the system may not be true. Anup Roy finds out.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Budget announcements will come right before five states, with population of around 250 million, go to polls.
Armed with automatic information exchange pact with the US, government on Thursday asked persons holding undisclosed offshore assets to declare them before September 30 as it would be difficult to hide unaccounted assets in future.
Risks are increasing with 55 times increase in such transactions over the past three years, says a Assocham-PwC report
The income tax department on Friday warned against indulging in cash transaction of Rs 2 lakh or more, saying that the receiver of the amount will have to cough up an equal amount as penalty.
Once passed by Parliament, the bill will replace an ordinance promulgated on December 30 last which provides for a fine of 10,000 or five times the cash held, whichever is higher, on holding of more than 10 banned 1,000 and 500 rupee notes.
Sushil Chandra will conduct the UP, Punjab, Goa, Manipur, Uttarakhand elections before he retires in May 2022.
A Ganesh Nadar/Rediff.com speaks to common folk in Tamil Nadu about whether they will invest in Arun Jaitley's gold monetisation scheme. Their reactions will not make the Union finance minister happy.
The party's steady flow of money from industrialists has all but dried up, leaving a cash crunch so serious that it's been forced to crowd-fund for a candidate.
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
As smartphones penetrate through the country, apps are getting more and more localised, democratised.
Some people have tried to secure their unaccounted cash by donating it to temples by taking its management into confidence and making receipt of such donations as anonymous donors
Calling Prime Minister Narendra Modi "Saheb" during a discussion on the government's resolution on good works in the Delhi assembly's special session, Kejriwal said the nation is not with him in his "theatrics".
'Just think of this innocent man who had to suffer so much.' 'Who will compensate for the physical and mental torture Kappan had to go through in the last two years though he has not done any crime?'
The government said that the massive amount of political donations were earlier made in cash by individuals or corporates using 'illicit means of funding'.
Only Rs 16,050 crore out of the Rs 15.44 lakh crore of the old high denomination notes have not returned.
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
The 69-year-old leader, who is in the custody of the Enforcement Directorate, was taken to ESI hospital at Joka on the southern outskirts of Kolkata for a medical-check up during the day.
According to experts, declarations can be made with regard to capital gains or business income, which have escaped assessment
