Aditya Birla Management Corporation has received cash from certain group companies through hawala operators in Delhi, say investigators
CBDT feels 30% growth in income-tax not feasible.
The Finance Ministry is likely to exempt assesses from sharing details of company sponsored foreign trips in the revised Income Tax Return (ITR) forms.
FBT was an unpopular tax and withdrawn before the General Elections in 2009
The Central Board of Direct Taxes has said the government has not introduced any new provision regarding the chargeability of tax on jewellery.
What is the wider political strategy behind Mr Modi's concerted attack on black money, asks Subir Roy.
It's a close fight between the Election Commission trying its hardest to prevent Tamil Nadu's electoral malpractice and the political parties out to buy votes at any cost, says B Srikumar.
Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
The finance ministry has issued a note which says that the government and the RBI's move to take out Rs 500 and Rs 1,000 banknotes from circulation will help India towards cash-less economy where most transactions are done electronically and that can be tracked.
"For the next 25 years we need to focus on the five resolves - developed India, removing every trace of bondage from our mind, taking pride in our glorious heritage, unity, and fulfilling our duties," he said.
Lawyer Prashant Bhushan, appearing for the NGO, alleged that the scheme is a means for channelising unaccounted black money in favour of the ruing party.
A newspaper reported that over 500 Indians have association with firms in tax havens.
Investment advisor Harsh Roongta will answer your queries on the ban on Rs 500 and Rs 1000 notes and what you should be doing.
Rs 6,000-cr disclosure just four days before scheme ends
Modi said the two countries should resume their discussions on Comprehensive Economic Partnership Agreement.
Post demonetisation, there has been a hike in collection of personal income tax
Taxpayers might face several issues while filing returns this year.
Police seized 100 fake notes of old Rs 500 denomination from Burhanuddin, who first claimed to be a Mumbai resident.
'...because the party is based on the Constitution.'
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
Financial Intelligence Unit detects over Rs 7,800 cr blackmoney.
The longer it takes for RBI and the government to stabilise monetary conditions in the economy, the more severe and long lasting will be the damage caused to various sectors of the economy, especially to the informal sector, says Rajeswari Sengupta. Rajeswari Sengupta discusses the impact of this move on money supply, output and prices, in the short- and medium-term.
Do not declare them under Income Tax.
The I-T dept has issued 87 notices under section 24 of the said Act
He dismissed as "hollow claim" Prime Minister Narendra "Modi's propaganda" that things have started looking up
Prime Minister Narendra Modi on Sunday warned unscrupulous elements not to play with the lives of the poor by depositing illegal money into their accounts as stringent law against 'benami' transactions were in place to deal with them, as he asked the youth and other sections to move towards a "cashless society".
Trump's victories came in Maryland, Connecticut, Delaware, Pennsylvania and Rhode Island, while Democratic front-runner Hillary Clinton won in Connecticut, Delaware, Maryland and Pennsylvania
Authorities on Saturday continued to dig up currency to the tune of lakhs of rupees, including in new notes, across the country.
CBDT has sought explanation from B R Balakrishnan, former director-general of I-T (investigation wing) and former principal chief commissioner of I-T for Karnataka and Goa, who had ordered attachment of CCD's shares when he was in charge of the Bengaluru region. He retired last month.
PMO asked income-tax department to submit report on action taken against identified benami owners
'When corporates have a stake in the government through contributions to political parties, democracy, which is supposed to work for the common man, doesn't.'
Rashid was arrested on August 9 last year, since he was unable to give any convincing answers to the questions, the NIA said.
The Association for Democratic Reforms slams the Budget proposals on political funding, says they lack teeth and show the "lack of political will" in proposing real reforms.
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
The agency had received intelligence inputs that a huge amount of "unaccounted" cash is lying at the groups properties at Delhi and Noida.
'Ultimately if your aim is that you need to be able to deal with a security situation, you need to deal with a black money situation, you need to deal with a counterfeiting situation then, to that extent, I think everyone will need to able to tolerate a little bit of inconvenience.'
US presidential aspirants Hillary Clinton and Bernie Sanders on Friday tried to woo minority Latino and African American voters as they sparred over issues like race and their records on immigration during a Democratic debate.
I went to the NIA office on my own and was arrested, the police officer said, adding he had not confessed to anything.
'You may show at the end of December how much money has come into the system, but none would be the wiser because most of see only what we want to see and believe.' 'Some of us will see through it and you will make your proxies call us enemies of the State.' 'I was somewhat with you till here. But we diverge from here on until you can do something which will veer through my cynicism brought about by your policy,' says Harsh N Gokhale.
Amid concerns of bullion trade being used for routing of black money, Switzerland's gold exports to India have risen further and is fast approaching Rs 1-trillion mark for the entire 2014.
