New Delhi: Market regulator Securities and Exchange Board of India (Sebi) has asked bourses to take immediate action against entities involved in misuse of stock exchange system for tax evasion, Parliament was told Friday. Preliminary enquiries conducted by the regulator in the recent past, inter alia, indicate that certain persons/companies… – Continue reading
Global giant Standard Chartered Bank has been allowed by regulator Sebi to offer advisory services on regulated offshore products like stocks, bonds and mutual funds in markets outside India. “… SCB can advise on regulated offshore securities and investment products, which are in the nature of marketable securities issued by… – Continue reading
Earlier, SEBI also beefed up norms for defaulters trying to raise fresh money. The Reserve Bank of India (RBI) has clarified that only nominee and independent directors who are not whole-time board members of a firm deemed as a ‘wilful defaulter’ would be excluded from being labelled as a party… – Continue reading
The government on Wednesday assured over 1,000 foreign institutional investors (FIIs) across the United States, Hong Kong and Singapore they can avail of treaty benefits to ward off tax demands on capital gains booked over the years till March 31, reports the Financial Express. The development is significant given the… – Continue reading
With regard to the First Financial case, the debarred entities include this company itself, its seven promoters and directors, 80 ‘preferential allottees’, 57 First Financial Group entities, as also seven others suspected to be related entities. Sebi has allowed First Financial, which has been barred from the capital market for… – Continue reading
The United States of America (USA) has toppled Mauritius to become the top jurisdiction from where India is receiving the highest amount of foreign portfolio investment (FPI) into the equity markets. Mauritius lost out due to the uncertainty over the double tax avoidance treaty (DTAA) between India and Mauritius and… – Continue reading
Mumbai: The United States of America (USA) has toppled Mauritius to become the top jurisdiction from where India is receiving the highest amount of foreign portfolio investment (FPI) into the equity markets.Mauritius lost out due to the uncertainty over the double tax avoidance treaty (DTAA) between India and Mauritius and… – Continue reading
MUMBAI: In a fresh crackdown on suspected tax evasion and laundering of black money through stock markets, regulator Sebi today barred Mishka Finance and TradingBSE -1.93 % Ltd and 128 other entities from the securities market. While the total amount involved could not be ascertained, these entities are estimated to… – Continue reading
An agreement was signed between GIFT SEZ and NCDEX on Thursday at Gandhinagar, according to a joint media statement Ahmedabad: National Commodity & Derivatives Exchange Ltd (NCDEX), India’s leading online commodity exchange, said it will set up an international commodity and derivatives exchange in the special economic zone (SEZ) area… – Continue reading
Bank of India, Bank of Baroda, Corporation Bank, Punjab & Sind Bank, HDFC Bank and many others have signed up for space in Gujarat’s International Finance Tec-City (also known as Gift City). In fact, banks are expected to be the first to kick off operations in 2016/17, when the International… – Continue reading
New Delhi, April 10: The finance ministry is mulling a new tax regime for financial SEZs of the kind inaugurated today in Gujarat so that the taxes paid by financial institutions working out of them are on a par with Dubai and Singapore. The country’s first International Financial Services Centre… – Continue reading
Nearly every second listed state-owned company is yet to comply with the regulatory requirement of appointing a woman director on its board, well after the March 31 deadline announced by market regulator Sebi has passed. Those in violation of the norm are bluechip public sector firms that include ONGC, NTPC… – Continue reading
Till March 31, close to 100 FIIs got notices from the Tax Department for a controversial Minimum Alternate Tax (MAT) of 20 per cent, while they are now being followed up with Assessment Orders. In the biggest-ever tax demand slapped on them, nearly 100 foreign funds have been asked to… – Continue reading
New regime notified but experts say it might not get going without this incentive; however, both Sebi and tax authorities apprehend use for money laundering The liberalised regime for Global Depository Receipts (GDR) and American Depository Receipts (ADR) might not take off as long as the income tax (I-T) department… – Continue reading
NEW DELHI: Bank of America, Citi Bank and HSBC are interested in setting up their offshore branches in the country’s first international financial services centre (IFC) in Gujarat, said AK Jha, CEO of GIFT City to ET Now. “All Indian banks that have offshore branches are willing to set up… – Continue reading
The government may be going all out to promote Gujarat International Finance Tec-city (GIFT) as a financial services hub on the lines of Singapore, Hong Kong, Dubai and London, but an immediate migration of business — initially estimated to be $50 billion annually — away from these established centres would… – Continue reading
Mumbai: As a probe continues into the misuse of stock markets for evading taxes and laundering black money, 4-5 cartels of market operators have been identified for making illicit gains or showing fictional losses of several thousands of crores of rupees over last 2-3 years. According to sources, both ‘bull’… – Continue reading
New Delhi: As a probe continues into misuse of stock markets for routing black money and tax evasion, the regulatory and other agencies suspect that GDR route is being used for bringing back suspected illicit funds stashed abroad. The modus-operandi, in cases currently under scanner, involves an intricate web of… – Continue reading
