Nirav Modi asset auction fetches Rs 51 crore to ED
On sale were 40 items confiscated by the Enforcement Directorate (ED) from fugitive jeweller Nirav Modi’s Mumbai residence to recover some of the money he’s alleged to have siphoned off. The sale fetched the exchequer Rs 51.4 crore. This number does not include tax or the buyer’s premium that the auction house, Saffronart, said.
CBI searches residence of accused in Rs 1,038 cr black money remittance case
The CBI has booked 51 entities, mostly owned by Chennai resident...
CBI books 51 entities for transferring Rs 1,038 crore black money to Hong Kong in 2014-15
It is alleged that 51 entities, mostly owned by Che...
Yash Birla case to decide status of offshore trusts
The dispute relates to multiple overseas trusts, allegedly holding close to Rs 1,550 crore, where Birla is named as one of the beneficiaries. The HC is hearing a petition filed by Birla challenging a two-year old ruling of the Income Tax Settlement Commission (ITSC) rejecting Birla’s application for settlement on the grounds that he failed to make “true and full” disclosure.
With revenues falling, taxmen rake up three-year-old demonetisation cases
Jewellers have received tax notices asking them to turn over money they made from gold sales during DeMo.
BlackRock to exit black diamond
“With the acceleration of the global energy transition, we do not believe that the long-term economic or investment rationale justifies continued investment in this sector," the world’s largest money manager with $1.8 trillion in assets under management, said in a letter to its clients.
NCR-based real estate group admits Rs 3,000-crore black money after I-T raids
Though the Central Board of Direct Taxes (CBDT) did not identify the firm, officials sources claimed it to be the Oriental India Group.
Raids on Lalit hotels group, promoter led to Rs 1,000-cr black foreign assets: CBDT
"The investigation has successfully lifted the veil, leading to detection of undisclosed foreign assets of more than Rs 1,000 crore, apart from domestic tax evasion of more than Rs 35 crore which may lead to consequences under the Black Money Act, 2015, as also, action under the I-T Act respectively," the Central Board of Direct Taxes (CBDT) said.
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Delhi polls: Income-Tax department sets up control room with toll free number for black money info
The facility will also host a toll-free number- 1800117574 - where people can inform the department about any activity of use of money power, illegal distribution of cash among other such election-related crimes. The control room has been established in the investigation wing of the department here.
Electoral bonds 'successful attempt' to usher in honest money in politics, says BJP; slams Congress for opposing them
"Electoral bonds brought in honest money in electoral politics. People who are making baseless allegations against the Union government about electoral bonds have grown used to black money and believe in its use during elections," senior BJP leader said. He added that in some parties, leaders grew rich while the BJP used political funds for the right purpose only.
Black money probe: Tax haven trusts come under scanner for Swiss bank accounts
Trusts, especially those set up in jurisdictions like Cayman Islands, Panama and British Virgin Islands, have often been seen as routes for evading taxes. In addition, individuals who are suspected to have moved abroad after evading taxes back in India are also being probed and their banking details are in the process of being shared.
Delay in penny stock cases stokes hope of amnesty
He received a cheque (the proceeds from the stock sale) and handed over the cash along with a fee for the ‘service’.
Coronavirus: How it impacts your money
As trade and commerce get disrupted, Indian companies are likely to feel the heat as well.
I-T raids at Bharat Group, undisclosed foreign assets recovered
The Income-Tax Department's searches on the Bharat Hotels group, that runs the chain of Lalit Hotels, has led to the detection of "undisclos...
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