-The Hindu Business Line Uses SFT to identify people who made high cash deposits during demonetisation period New Delhi: In hot pursuit of black-money hoarders who may have made high-value cash deposits during the demonetisation window, the Income Tax Department has identified an additional 6.6 lakh people in the second phase of Operation Clean Money. The Central Board of Direct Taxes (CBDT) has harvested information from the Statement of Financial Transactions (SFT) to...

Paytm's founder Vijay Shekhar Sharma was in the news recently for signing a deal to purchase a Rs. 82 crore worth property in Lutyens’ Delhi. He is credited with the growth of Paytm's mobile wallet services, which is currently being used by over 220 million users across the country. Although Paytm was launched in 2010, the popularity of its mobile wallet services and payment gateway among the ordinary citizens grew...

-Business Standard Relatives' accounts, meddling with accounting software and shell cos used to hide unaccounted cash Two major civil contractors of Bengaluru, who undertake state government civil contract works from irrigation and other departments, were alleged to have engaged in massive inflation of expenses and investment of unaccounted income in the purchase of immovable properties. Discreet enquiries by the Income Tax (I-T) department revealed that they were helping in the conversion of unaccounted...

-Business Standard Activists, others question yield and bio-safety data; GM mustard can improve yields by 25-30% After many ifs and buts, the commercial release of genetically modified (GM) mustard seems to have reached a decisive phase after the Genetic Engineering Appraisal Committee (GEAC) recommended on Thursday that it be allowed.   The ministry of environment and forests will now decide on whether this herbicide-tolerant variety can become the first GM food crop to be...

-The Hindu Business Line Farmers seen bringing more area under the fibre crop this year Ahmedabad / Bengaluru: Sowing of cotton has begun on a strong note in the key growing regions of North India such as Punjab and Haryana, and Southern Karnataka, for the 2017-18 season. Buoyed by the high prevailing prices, farmers are seen bringing in a larger area under the fibre crop and the seed industry expects acreages this year...