More than Rs 18,700 crore of unaccounted wealth has been unearthed across the country after searches were conducted by the Income Tax officials in the last two years, the Central Board of Direct Taxes said on Friday. The body has, however, denied any harassment has been caused to any industrialist or business establishment anywhere in the country due to I-T search and survey operations. "Search and seizure is conducted on the basis...

-PTI Seventy-four per cent Indians feel that the level of corruption in the country has gone up in the last three years and perceive politicians and police to be the most corrupt, according to a survey.  The survey, released by Transparency International, found that 64% Indians bribed police for one reason or the other while 55% felt that the government was ineffective in the fight against corruption.  Majority of Indians opined that politicians...

-The Times of India   Ignoring objections raised by theBoard of Control for Cricket in India (BCCI), the government said there were reasonable grounds for bringing the organisation under the Right to Information Act. In a seven-page written statement submitted before the Central Information Commission, thesports ministry said although there was no direct funding of BCCI, it got "substantial indirect funding" from the government in the form of revenue foregone like "concessions...

-PTI The government has finally accepted the resignation of Team Anna member Arvind Kejriwal from the Indian Revenue Service (IRS), almost six years after he quit the job. The acceptance of resignation came 45 days after Kejriwal deposited over Rs 9 lakh as dues to settle the issue. "The government has finally accepted my resignation from the Income Tax Department. I received the letter today," Kejriwal told PTI. He had quit the IRS...

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,...