The Enforcement Directorate conducted raids across Arunachal Pradesh, uncovering a large-scale interstate liquor smuggling and money laundering network.
A special court in Mumbai has denied bail to Pune businessman Amit Thepade in a Rs 117-crore money laundering case, citing the serious threat economic offences pose to the country's financial health. The court highlighted substantial evidence linking Thepade to the crime under the Prevention of Money Laundering Act (PMLA).
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
The Odisha Vigilance Department seized 45.41 lakh in cash from an Odisha Police Housing and Welfare Corporation (OPHWC) deputy manager, who was unable to explain the source of the funds. Raids were conducted on his properties in multiple locations.
The Supreme Court has ordered a 'fair, dispassionate, transparent, and time-bound' investigation by the CBI and ED into the Anil Dhirubhai Ambani Group, addressing concerns over alleged large-scale banking fraud and demanding accountability.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
The prosecution had 'miserably' failed to prove the conspiracy charge against Dileep in the sensational 2017 actress sexual assault case, a local court has observed while citing inconsistencies and lack of sufficient evidence against the Malayalam star.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
Before signing up for a BNPL plan, read the fine print carefully and watch for red flags like unclear repayment terms, vague information on interest or late fees, and marketing that downplays the cost of default.
The Supreme Court of India has ruled that no timelines can be imposed on governors and the president to grant assent to bills passed by state assemblies, clarifying the extent of their powers under Article 200 of the Constitution.
The investigation against Bharadwaj (45), former Delhi health minister, is understood to be linked to an Anti-Corruption Branch case into alleged corruption in health infrastructure projects by the previous AAP government.
Meta on Tuesday argued before appellate tribunal NCLAT that the CCI had provided no reasons for imposing a 5-year ban on the sharing of data between Meta and WhatsApp for advertisement purposes, as its counsel alleged "flawed approach" and "seven misses" by the fair trade regulator in its order.
'Always keep accurate and transparent records of the source of the investment or property's funding: Loan agreements, transfer records of the property, and bank statements of co-owners if available.'
Nearly Rs 3,400 crore (Rs 34 billion) in cash and other items were seized in the elections in 2022-2023, an increase of 835 per cent over 2017-2018.
In her letter to the Sona BLW board, Rani Kapur said documents executed by her at a time of "mental and emotional vulnerability" were being misused.
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
These cases are being reopened under Section 147 of the Income Tax Act, which empowers the department to reassess income if it believes that taxable income has escaped assessment.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion, possibly to rectify double accounting of inbound shipments. According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about $11.7 billion during the first eight months of 2024-25.
The apex court registry refused to accept the application, saying since Kejriwal was given liberty to move the trial court for regular bail, the plea is not maintainable.
Delhi Chief Minister Arvind Kejriwal has sought extension of his interim bail by seven days from the Supreme Court to undergo a host of medical tests, including a PET-CT scan in view of his 'sudden and unexplained weight loss, coupled with high ketone levels', which are indicatives of kidney, serious cardiac ailments and even cancer.
National Conference (NC) president Farooq Abdullah did not appear before the Enforcement Directorate (ED) on Thursday for questioning in a money laundering case, official sources said.
The investigation pertains to a case against Pranav Jewellers, a partnership firm based in Tiruchirapalli, whom the ED raided on November 20 and claimed to have seized "unexplained" cash of Rs 23.70 lakh and some gold jewellery.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
From tennis love to Tudor queens, Sukanya Verma lists everything you can catch on OTT this week.
Have you ever wondered what happened to your socks when you put them into the dryer and then never saw them again?
The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
Cash deposits of up to Rs 2.5 lakh by housewives post demonetisation will not come under I-T scrutiny as the Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee. Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases. The appellant, a housewife Uma Agrawal of Gwalior, had declared total income of Rs 1,30,810 in her income tax return filed for fiscal 2016-17.
The Securities and Exchange Board of India (Sebi) has proposed new regulations to deal with suspicious trading activities-a move that will empower the market watchdog to go after entities making unusual profits without any fundamental basis. The regulator has issued a discussion paper, inviting feedback on the draft of the Sebi (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023, which are aimed at curbing front-running, use of mule accounts, pump and dump schemes, and misuse of social media influencers. Currently, Sebi's Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) and Prohibition of Insider Trading (PIT) Regulations deal with such activities.
'Check every SMS you get. Many people ignore them.' 'Remember if there is an activity in your account, your financial institution will send you an SMS, not a WhatsApp message.'
I-T heat on thousands of firms for unusual cash deposits.
The National Investigation Agency (NIA) on Monday attached 17 properties of Kashmiri businessman Zahoor Ahmed Shah Watali in a terror funding case, the agency said.
It's not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not common.
Nearly three weeks after Prime Minister Narendra Modi announced junking high denomination 500 and 1000 rupee notes, Finance Minister Arun Jaitley introduced a bill to amend the income tax law.
The US health regulator has pulled up drug major Sun Pharma for manufacturing lapses, including failure to follow appropriate written procedures designed to prevent microbiological contamination of drug products, at its Gujarat-based plant. In a warning letter, the US Food and Drug Administration (USFDA) pointed out various lapses at the Halol plant which produces finished pharmaceutical products. "This warning letter summarises significant violations of Current Good Manufacturing Practice (CGMP) regulations for finished pharmaceuticals... Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated," the USFDA stated.
In 2014-2015 the I-T department put up 669 cases for prosecution. The charges stuck in only 34 cases: Just 5%. It was no exceptional year -- the story broadly follows the script every year.
'Alas, in this scheme there is nothing to stop the black money flows of the future.' 'On the contrary Modi has sown the seeds of more, through the issue of Rs 2,000 notes.' 'But have you heard one politician decrying this aspect of the scheme?' 'They must be secretly rejoicing that while Modi is taking away their past, he has not shut the door on their future,' says banker S Muralidharan.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
The FM asserted that nearly Rs 11.85 lakh crore out of the Rs 15.44 lakh crore junked notes were back into the system
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in Parliament shortly.
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