Chances of a single answer to two opposing questions on the RTI Act means there is something to it which the rule-books don’t tell you about—but you can bowl googlies to them, too, when the system expects you to hold a straight bat to their bouncers Here is a single answer to two diametrically opposite questions—“Yes, you can file an application under the Right to Information Act of India 2005 (RTI...
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Black money trail: Govt may move against HSBC, Rs 80 cr mopped up by Ritu Sarin
The Government is contemplating legal action against HSBC Bank for what is being described as the “active’’ role of their executives in persuading Indian account-holders to open accounts to park undeclared money in their branch in Geneva. The Central Board of Direct Taxes (CBDT) has sought the opinion of the Law Ministry for this and underlined that a similar course of action has been taken by other countries who, like India,...
More »Arrested with arms dealer, I-T officer back at work, promoted by Ajmer Singh
Three years after he was arrested by CBI from a Mumbai hotel along with an arms dealer, Indian Revenue Service officer Ashutosh Verma was reinstated by the Income Tax Department. Last month, he was promoted as Joint Commissioner, Income Tax. In March 2008, Verma was arrested together with arms dealer Suresh Nanda, his son Sanjeev and Nanda’s chartered accountant Bipin Shah. The arrests were made after a surveillance unit of the CBI...
More »‘9,900 pieces of information on black money obtained'
-The Hindu Revised pact with Switzerland will allow India to obtain banking information in specific cases: Finance Minister Having impressed upon the G-20 nations the need to adopt automatic sharing of banking and tax-related information at the Paris Ministerial meeting last weekend, Union Finance Minister Pranab Mukherjee on Wednesday sought to highlight the “noteworthy” achievements and the progress made back home in unearthing unaccounted income. In his inaugural address at the ‘Economic Editors'...
More »CBDT cell to track poll expenditure
-The Economic Times The Central Board of Direct Taxes (CBDT) will soon have a dedicated cell to monitor election-related expenditure by political parties and donations made to them. "A special cell is being created under CBDT to look at election funding," said a finance ministry official. The new cell will be headed by a commissioner rank officer of the I-T department and will monitor election-related expenditure and political funding and enforce...
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