The government is exploring options to set up a facility to monitor advance income tax filings by companies and high networth individuals, on the lines of dedicated monitoring of returns and tax deducted at source (TDS) categories.

The move is in line with the government’s plan to tighten the tax system and improve monitoring of domestic transactions.
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NEW DELHI: BJP today accused Congress leaders of generating black money in the country while referring to the matter of the alleged tax evasion by its spokesperson Abhishek Singhvi and asked Congress President Sonia Gandhi to clarify on the issue.

"The issue of Singhvi is just a sample as it is only what has come out in the public domain. Ho...Read More

The Sen song of the Saradha Scam has been unveiled, and it makes for some pretty interesting listening. Ponzi Prince and chief architect of the Rs.2,459-crore Saradha scam Sudipta Sen knew well before the whistle finally blew that his game was up.

The high-profile investigation into the investment scam that continues to rock Bengal's political establishment a...Read More

KOLKATA: A total 136 Ponzi companies in West Bengal have so far mobilized around Rs 60,000 crore from the state - almost 1.6 times the amount collected by the Bengal government in taxes last year. And, the list excludes Saradha Group companies and alleged Ponzi schemes run by Rose Valley Group.

An internal report of the Union finance ministry has...Read More

AHMEDABAD: Ashok Jadeja, who is accused in a multi-crore ponzi scam, has been shortlisted by the state jail authorities along with 31 undertrials for release from jail following the Apex court order which says that undertrials who have spent half of the maximum sentence entailed by the crime should be released on conditional bail.

In September 20...Read More

While public attention was much more in Saradha as it turned out to be a high profile one, Rose Valley scam is probably six times bigger with a collection of  deposits worth about Rs15,000 crore

The mobilisation of money from the market is much more in Rose Valley than in the Saradha ponzi companies, according to Enforcement Directorate (ED), which is...Read More

BHUBANESWAR: Banki legislator Pravat Tripathy will be produced before a CBI court here on Thursday after the end of his 14-day remand.

The probe agency is unlikely to seek an extension of remand of the MLA, who was suspended from the BJD after his arrest on October 31 for his alleged links with the Artha Tatwa Group.

Along with T...Read More

BHUBANESWAR: Leader of opposition in assembly Narasingha Mishra here on Tuesday expressed surprise as to how CBI has not yet directed its probe against chief minister Naveen Patnaik in the chit fund scam.

"Minister Damodar Rout has said Ponzi firms prospered due to government patronage. How can the CBI ignore such a claim, which is an admiss...Read More

With ED probing newer dimensions of money laundering, staff shortage is now acutely felt

Forget tackling black money, the 700-strong Enforcement Directorate (ED) is hard put to probe its current workload of 7,000 cases with just 218 investigating officers.

At present, the Directorate is pursuing sensational cases such as the coal block allocation...Read More

New Delhi: The acts of former Coal Secretary H C Gupta and two other government officials overlooking the misrepresentation by Navbharat Power Pvt Ltd (NPPL) for getting coal block prima facie amounts to criminal misconduct, a special court on Wednesday said directing the CBI to further investigate the case.

The court differed from the investigat...Read More