On the first anniversary of demonetisation, economist Prabhat Patnaik speaks about why its stated objectives were not achieved, the role of GST and more.
The Tamil television channel is controlled by jailed AIADMK leader Sasikala’s family.
Juan Manuel Santos was listed in the leaked documents as a board member of insurance company Nova Holding in April and May 2000 and also Global Tuition, an insurance firm focused on education, from April 1999 to May 2001.
While the group has informed Australian authorities that Atulya Resources is the holding firm for the company’s operations, ABC alleges that it is actually a holding firm in the British Virgin Islands controlled by Vinod Adani.
This week’s selection from the world of social science research.
The Swiss People’s Party has said that India and ten other countries are “too corrupt” and that it will get enough support in the country’s parliament to halt the tax information exchange process.
The announcement by the Securities Exchange Board of India (SEBI) late on Monday did not say what illegal activities the companies may have been engaged in.
Officials familiar with the the details of the early morning raids said a team of IT sleuths also reached the resort where D.K. Shivakumar was staying to question him.
A new study has, for the first time, unveiled a complex global web of offshore financial centres that rob the world economy of US$500-650 billion annually, including US$200 billion from developing economies.
Finance Minister Arun Jaitley said that these two reforms combined will “certainly lead to greater compliance, greater digitisation,” adding that “expansion of the tax base of direct and indirect taxes is already visible.”
The two-judge bench said the PAN cards of those people who are not Aadhaar card holders, and who do not comply with the provision of Section 139(2), cannot be “treated as invalid for the time being”.
The Income Tax officials have asked Misa Bharti and her husband Shailesh Kumar to appear before the investigating officer in the first week of June.
By taxing the incomes of the top 4.1% of total agricultural households, as much as Rs. 25,000 crore could be collected as agriculture income tax.
If the government is serious about addressing the black economy, fundamental changes in the structure and organisation of the economy and politics are required.
Proponents of demonetisation say it was required for market correction. However, given the magnitude of government interference involved, it is likely to disrupt markets rather than correct them.
Despite the DRI’s allegations, the government seems strangely reticent about filing a review petition in the Supreme Court that could protect its revenue interests.
Rs 500 crore was deposited in the head office of the ADC Bank, in which the BJP president is a director, within three days of the demonetisation announcement.
Although the BJP says demonetisation will target unaccounted money, it and other national parties have in the past failed to submit their income tax returns and disclose sources of donations.
Despite the hardships being faced by the working class due to the note ban, the rhetoric of fighting corruption and targeting the wealthy means they are bearing the pain in silence.
Elaborate tax frauds are committed by corporate giants in a squeaky clean, cashless financial environment – why isn’t the government going after those?
The recent demonetisation has penalised virtually the entire informal sector, which accounts for about 45% of the GDP and nearly 80% of employment, while doing nothing to curb either corruption or tax evasion.
Stiglitz and Mark Peith have both quit the probe after it became clear that their report will not be made public unless the president of Panama approves.
The British prime minister will try to repair trust in his leadership by speeding legislation to make companies liable for employees who aid tax evasion.
The haste with which the government has proceeded to implement Action 13 is a recipe for compromised security of sensitive commercial information.
While the new equalisation levy comes with good intentions, it could have a negative impact on Indian small and medium businesses.