There are enough provisions in the Income Tax Act to scrutinise the accounts of political parties even though their income is tax exempt, the government said Saturday.
CBI has arrested two employees of cash department of Reserve Bank of India in Bengaluru in connection with alleged conversion of Rs 1.99 crore of demonetised currency with specified bank notes of Rs 2,000 and Rs 100.
Urjit Patel was appointed as the new Governor of the Central Bank. He succeeded Raghuram Rajan. Patel, the 24th RBI Governor, will serve a three-year term with effect from September 4.
A money laundering case has been registered by the Enforcement Directorate (ED) in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida.
Hinting that not all of the Rs 15.44 lakh crore worth of currency scrapped will be remonetised, Finance Minister Arun Jaitley said that the digital currency will fill the gap.
Finance Minister Arun Jaitley on Saturday said that GST is a transactional levy that unlike income tax can be implemented anytime during the year.
The police recovered unaccounted cash worth Rs 4.4 lakh in new currency notes of Rs 2,000 from Krishna district of Andhra Pradesh.
Finance Minister Arun Jaitley on Saturday hinted that not all of the Rs 15.44 lakh crore worth of currency junked will be remonetised through issuance of new notes as he said digital currency will fill the gap.
Given below is the city-wise price list of petrol and diesel post the hike by Indian Oil Corporation.
Petrol price was on Friday hiked by Rs 2.21 per litre and diesel by Rs 1.79 a litre in line with global trends.
Know the fare structure of Humsafar Express which will have AC - 3 Tier.
Know the salient features of the new black money disclosure scheme Pradhan Mantri Garib Kalyan Yojana (PMGKY), which kicks-in from December 17.
According to the Humsafar fare structure, 50% of the tickets will be made available for passengers on 1.15% higher base fare and thereafter 10% increase on every 10% tickets sold on subsequent bookings.
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, the government warned.
There is no official estimation of black money either before or after November 8 -- the day government announced scrapping of old Rs 500 and Rs 1,000 notes, Finance Minister Arun Jaitley said Friday.
According to global financial services major Deutsche Bank, demonetisation is an immediate catalyst for the digital payments revolution.
Passengers have to shell out 1.15% more as base fare than the normal Mail/Express AC-3 rate since the train is equipped with coffee/tea/soup vending machine, hot and refrigerated pantry and other facilities in each cabin.
Pinning hopes on a slew of FDI reforms unveiled by the government in 2016, the government expects that the momentum of high FDI inflows will continue in the new year.
The Supreme Court on Thursday refused to extend the use of demonetised Rs 500 and Rs 1,000 notes in government utility centres like hospitals, railway tickets etc.