Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    IDFC FIRST Bank introduces Zero Forex Markup across all its Credit Cards, existing and new.
    India's forex reserves drop by USD 4.924 billion to USD 780.782 billion: RBI data
    Govt eases sugar stockholding limit for bulk users to 30 days ahead of festive season
    25th Meeting of SCO Ministers Responsible for Economic and Foreign Trade Activities Held in Tajikistan
    India–Nepal Inter-Governmental Sub-Committee on Trade, Transit and Cooperation to Control Unauthorised Trade Meets in New Delhi
    OnEMI Technology Solutions Limited’s Board Approves Fundraise of approximately ₹832 Crore through a Preferential Issue of Securities
    CGST Delhi South officers bust firm in fraudulent availment of ITC involving over Rs. 25.22 crore; proprietor arrested
    Net direct tax collection rises 13 pc to Rs 12.12 lakh cr till Sep 17 on higher advance tax mop-up
    Protean launches next-generation KYC Onboarding & Reporting Solution at Global Fintech Fest 2026
    Japan's central bank raises benchmark interest rate to 1.25 pc, highest in 31 years
    Net direct tax collection rises 13 pc to Rs 12.12 lakh cr till Sept 17 on higher advance tax mop-up
    SP Group backs Tata Sons listing, bolstering board's push despite Trusts' opposition
    Shapoor Mistry backs Tata Sons listing, calls it opportunity for greater accountability
    India Welcomes Passage of New Zealand Legislation to Give Effect to India-New Zealand FTA
    CCI approves acquisition of certain additional shareholding in Azure Power Global Limited by OMERS Infrastructure Asia Holdings Pte. Ltd.
    CCI approves acquisition of certain equity share capital of Great White Global Pvt Ltd by ISAF III Onshore Fund, India Special Assets Fund III, Specia...
    CCI approves acquisition of three professional cricket franchises: Rajasthan Royals (India), Paarl Royals (South Africa) and Barbados Royals (Barbados...
    India warns that Washington's Russia sanctions bill holds implications for bilateral ties, energy market
    Tata Sons in open revolt: Board reappoints Chandrasekaran, Trusts call it illegal
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 19, 2026
Show AI Summary
Zero forex markup on credit cards applies automatically to international transactions without conditions while preserving applicable rewards.
Zero Forex Markup applies automatically to international transactions made through all existing and new credit cards, without a new-card application, upgrade, spending threshold or other stated condition. International card spends do not attract forex markup charges. Reward Points or Cashback, where applicable to the relevant card, continue on international transactions. Existing credit cards may be used for overseas and cross-border payments without requiring a separate forex card solely to avoid such charges.
September 18, 2026
Show AI Summary
Foreign exchange reserve valuation reflects currency movements as foreign currency assets and gold holdings decline.
India's foreign exchange reserves declined to USD 780.782 billion for the week ended September 11, driven by reductions in foreign currency assets and gold holdings. Foreign currency assets fell to USD 645.796 billion, with their dollar value reflecting movements in reserve currencies against the US dollar. Gold reserves also declined, while Special Drawing Rights increased to USD 18.845 billion. The reserve position with the IMF stood at USD 4.916 billion.
September 18, 2026
Show AI Summary
Bulk sugar stockholding limits now allow expanded inventories only where additional supplies derive from designated import channels.
Bulk sugar consumers using more than 10 tonnes monthly as a raw material may hold up to 30 days' requirement instead of 15 days. Holdings above 15 days must consist exclusively of sugar imported under the Tariff Rate Quota or Advance Authorisation Scheme; sugar obtained from the open market remains restricted to 15 days' consumption. Bulk consumers must declare and disclose their sugar inventories every Friday through the food ministry's online portal.
September 18, 2026
Show AI Summary
Trade facilitation and digitalisation support regional economic cooperation through simpler customs procedures, paperless exchange, resilient supply chains, and MSME access.
Priority measures included expanded intra-SCO trade, lower trade costs, resilient and diversified supply chains, trusted multimodal connectivity, greater market access, simplified customs processes, paperless trade and electronic document exchange. Digital and cross-border payments and accessible trade finance were identified to enable MSMEs and start-ups to participate in trade and value chains. Ministers agreed an Action Plan for 2026-2030 for further approval and approved regulations for a special working group on creative-economy development.
September 18, 2026
Show AI Summary
Customs cooperation and trade facilitation advance electronic origin verification, pre-arrival information exchange, and safeguards against preferential trade misuse.
Customs cooperation and trade facilitation measures included pre-arrival information exchange, electronic verification of Certificates of Origin, and Customs automation and digitalisation. These measures are directed at facilitating legitimate trade while ensuring compliance with applicable rules and preventing misuse of preferential trade arrangements. Rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure were reviewed to improve infrastructure utilisation and address operational bottlenecks affecting bilateral and transit trade.
September 18, 2026
Show AI Summary
Preferential equity issuance approved to strengthen capital, support digital lending expansion, and fund subsidiary operations subject to required approvals.
OnEMI Technology Solutions Limited has approved a preferential issue of equity shares to identified investors, subject to shareholder and requisite regulatory and statutory approvals. The issuance is proposed under the Companies Act, 2013, the SEBI capital-issue and disclosure framework, other applicable SEBI regulations, and applicable law. Seventy-five per cent of the additional capital raised is proposed for infusion into its wholly owned subsidiary to support lending, technology, digital capabilities and product expansion, while the remaining twenty-five per cent is proposed for general corporate purposes.
September 18, 2026
Show AI Summary
Fraudulent input tax credit claims through bogus invoices prompted arrest over alleged invoicing without actual supply of goods.
Alleged fraudulent availment, utilisation and passing on of inadmissible input tax credit involved invoices from purported suppliers found to be non-existent, non-functional, suspended or cancelled. Input tax credit was allegedly claimed without actual receipt of goods and passed on through invoices unsupported by corresponding supplies. Following investigation and recorded statements, the proprietor of an iron and steel trading firm was arrested under statutory arrest powers, while further investigation remains in progress.
September 18, 2026
Show AI Summary
Direct tax collections: stronger advance tax payments support growth in corporate, non-corporate, and securities transaction tax receipts.
Direct tax collections grew through September 17, supported principally by increased advance tax payments from corporate and non-corporate taxpayers. Gross collections exceeded Rs 14.32 lakh crore, while net collections, after refunds, exceeded Rs 12.12 lakh crore. Corporate tax collections grew more strongly than non-corporate tax collections, and Securities Transactions Tax receipts recorded significant growth. The trend indicated broad-based tax buoyancy, supported by underlying economic activity, taxpayer confidence and business performance.
September 18, 2026
Show AI Summary
Reusable consent-based KYC enables integrated onboarding, reporting, record updates and periodic re-verification for regulated financial institutions.
Central KYC-based onboarding enables regulated financial institutions to reuse a customer's existing verified identity record through the Central KYC Registry with customer consent. The integrated solution supports onboarding, KYC reporting, unsolicited notifications and re-KYC. It retrieves consented KYC records through CKYC APIs, uses facial matching or video-based customer identification for authentication, and applies AI-based duplicate detection. Reporting automates validation, image correction and real-time registry submission, while record updates and simplified periodic re-verification support the currency of institutional KYC information.
September 18, 2026
Show AI Summary
Benchmark interest rate normalisation raises borrowing costs while monetary policy monitors inflation, wage growth, currency risks, and economic recovery.
The Bank of Japan increased the uncollateralised overnight call rate from 1.0 per cent to 1.25 per cent, advancing monetary-policy normalisation after a prolonged period of near-zero or negative rates. The increase was assessed against gradual economic recovery, inflation near its target, wage growth, currency fluctuations, elevated crude oil prices, and external risks. Further tightening remains contingent on stable price increases, wage developments, and monitoring of other risks.
September 18, 2026
Show AI Summary
Direct tax collections reflect stronger advance tax payments, alongside increased corporate tax, securities transaction tax, and refund issuance.
Net direct-tax collections exceeded Rs 12.12 lakh crore through 17 September, reflecting 13 per cent growth following increased advance-tax receipts. Gross direct-tax collections exceeded Rs 14.32 lakh crore, while refunds exceeded Rs 2.20 lakh crore. Corporate-tax and non-corporate tax collections increased, as did Securities Transaction Tax collections. Advance-tax receipts exceeded Rs 5.22 lakh crore, comprising increased corporate advance tax and non-corporate advance tax payments.
September 18, 2026
Show AI Summary
Upper-layer NBFC listing compliance sharpens corporate governance conflict over public accountability, shareholder liquidity, and preservation of private ownership.
Tata Sons' status as an upper-layer non-banking financial company has brought its proposed public listing into focus after the Reserve Bank of India rejected its application to voluntarily surrender core investment company registration. Tata Sons is required to take steps to comply with the enhanced regulatory framework applicable to upper-layer NBFCs, which includes stock-market listing. Classified in 2022, Tata Sons did not meet the original listing deadline and had pursued deregistration after repaying debt.
September 18, 2026
Show AI Summary
Upper-layer NBFC compliance places Tata Sons on a listing-oriented path emphasising transparency, governance, shareholder visibility, and philanthropic continuity.
Reserve Bank of India rejection of Tata Sons' application to surrender its core investment company registration requires compliance with the upper-layer non-banking financial company regulatory framework. The resulting regulatory path is associated with public listing. Shapoor Mistry supports listing as a means to enhance transparency, shareholder visibility, and corporate governance accountability, while potentially clarifying the holding company's value and supporting a durable flow of value towards charitable activities without compromising Tata's philanthropic mission.
September 18, 2026
Show AI Summary
Duty-free market access will cover all covered exports upon entry into force under the bilateral free trade agreement.
Upon entry into force, the India-New Zealand Free Trade Agreement grants duty-free access in New Zealand for 100 per cent of Indian exports, including textiles and apparel, leather and footwear, engineering goods, pharmaceuticals, agriculture, and processed food products. It also provides enhanced preferential access to the Indian market for specified New Zealand exports. The Agreement further covers services, investment, professional, student and youth mobility, and cooperation in agricultural productivity, pharmaceuticals and medical devices, traditional medicine and AYUSH, technology, and trade facilitation.
September 18, 2026
Show AI Summary
Competition clearance for additional shareholding acquisition facilitates increased investment in Azure Power's renewable energy business by OMERS Infrastructure.
Competition approval has been granted for a proposed combination involving OMERS Infrastructure Asia Holdings Pte. Ltd.'s acquisition of certain additional shareholding in Azure Power Global Limited from CDPQ Infrastructures Asia Pte. Ltd. Azure Power Global Limited is the parent entity of the Azure group, which establishes and operates renewable energy plants and sells solar power in India.
September 18, 2026
Show AI Summary
Competition approval for interconnected acquisitions enables shared equity acquisition in Great White and sole control acquisition in ITVIS.
Competition-law approval covers an interconnected combination involving acquisition of 50% of Great White Global Private Limited's issued and paid-up equity share capital by EAAA Acquiring Entities and the Continuing Promoter group, through inter-connected steps using an acquisition special purpose vehicle that will merge into Great White. The combination also includes Mr. Mehul Shah's acquisition of sole control over ITVIS Innovations Private Limited.
September 18, 2026
Show AI Summary
Competition approval for acquiring three Royals franchises covers cross-border professional cricket franchise ownership interests and related transaction arrangements.
Competition Commission of India granted competition approval for the proposed combination involving Westview Cricket Limited and Poonawalla Sports and Fitness Private Limited acquiring the Rajasthan Royals, Paarl Royals and Barbados Royals professional cricket franchises. The franchises operate respectively in India, South Africa and Barbados, with Rajasthan Royals participating in the Indian Premier League T20 cricket tournament organised by the Board of Control for Cricket in India.
September 17, 2026
Show AI Summary
Sanctions bill permits punitive tariffs on oil and gas trading partners, raising energy-market and bilateral relationship concerns.
United States sanctions bill concerning Russia would authorize the President to impose sanctions on Russia and punitive tariffs of up to 100 per cent on nations importing Russian crude oil. The tariff mechanism may affect oil and gas trading partners, bilateral relations and global energy markets, with concern expressed over its implications for energy trade.
September 17, 2026
Show AI Summary
Secondary sanctions on Russian energy trade could expose major crude importers to punitive tariffs and economic pressure.
Congressional legislation targeting Russia and Iran would authorise sanctions against Russia's leadership, energy sector, and vessels facilitating evasion of oil-delivery restrictions. It would also permit punitive tariffs of up to 100 per cent on leading trading partners continuing to import Russian oil and gas. India has identified possible effects on bilateral economic relations and the international energy market, while maintaining that diversified sourcing is necessary for energy security and that its trade and economic interests will be protected.
September 17, 2026
Show AI Summary
Trust-nominated director consent shapes the contested chairmanship reappointment as regulatory classification renews pressure to consider a stock-market listing.
Validity of the reappointment is therefore contested under the company's internal governance framework despite the majority board vote, and the appointment is expected to be considered for ratification at the annual general meeting. The dispute also concerns the distinction between shareholder influence and directors' decision-making duties. A Trust sought to direct its nominee director to oppose a listing, but the director declined on the basis of independent director duties.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

PMLA / Black Money

National Herald case: ED chargesheets Congress leaders Sonia, Rahul Gandhi; Cong says “vendetta politics”

April 15, 2025

Contents
Summary
Note

Note

-

Bookmark

Print

Print

New Delhi, Apr 15 (PTI) The Enforcement Directorate has filed a chargesheet against Congress leaders Sonia Gandhi and Rahul Gandhi and others before a special court here in the National Herald case accusing them of allegedly laundering Rs 988 crore.

The prosecution complaint filed on April 9 under various sections of the Prevention of Money Laundering Act (PMLA) named Sonia Gandhi, a former Congress president, as the accused no 1, and her son and MP Rahul Gandhi, who is also the Leader of Opposition in the Lok Sabha, as the accused no 2.

The Congress on Tuesday alleged the action by the Enforcement Directorate(ED) against Sonia and Rahul Gandhi was "vendetta politics" and that seizing of assets in the case was a "state-sponsored crime masquerading as the rule of law".

As the ED move triggered a political slugfest, the BJP said the proceedings in the case began with the order of the court.

“Do they mean the court was taking vindictive action against them?” asked BJP national spokesperson Shehzad Poonwalla.

A "criminal conspiracy" was carried out by Congress leaders to "usurp" properties worth Rs 2,000 crore of its public company Associated Journals Limited(AJL) by transferring 99 per cent shares to their private company named Young Indian for just Rs 50 lakh, a firm where Sonia and Rahul Gandhi are the majority shareholders, the ED is learnt to have said in its chargesheet. AJL is the publisher of the Congress-controlled National Herald news platform (newspaper and web portal) and it is owned by Young Indian Private Limited.

Sources told PTI that the ED has pegged the "proceeds of crime" in the money laundering case at Rs 988 crore and the current market value of the linked assets at Rs 5,000 crore.

Special judge Vishal Gogne examined the chargesheet on the point of cognisance and posted the matter for further proceedings on April 25.

The other accused named are Congress party associates Suman Dubey, Sam Pitroda, two companies Young Indian and Dotex Merchandise Pvt Ltd and Sunil Bhandari (of Dotex Merchandise).

"The present prosecution complaint shall next be taken up for consideration on the aspect of cognisance before this court on April 25, 2025 when the special counsel for the ED and IO shall also ensure the production of the case diaries for perusal by the court," the judge said.

The ED has filed the chargesheet under sections 44 and 45 of the PMLA for "commission of offence of money laundering" as defined under section 3 of the Act along with section 70 (offences by companies) seeking to establish "vicarious liability" of the office bearers and executives of the firm. It has sought punishment against the accused under section 4 of PMLA where punishment can extend up to seven years.

"Let the complaint be checked and registered. The Ahlmad (court staff) shall ensure that the entire file/documents are properly paginated. The ED is directed to file a soft copy of the complaint and documents in readable/OCR format by the next date," Judge Gogne said.

Judge Gogne, who deals with cases relating to lawmakers, noted the submission of the ED, which would be moving an application before the district judge for the transfer of the case related to the predicate offence for alleged cheating, criminal conspiracy and other offence from another court to his court. The ED had started its investigation in the present matter based on the case related to the predicate offence.

The predicate offence is required to be tried by the same court which takes cognisance of the offence under Section 3 PMLA, the judge said, and Sonia Gandhi and Rahul Gandhi were members of the Rajya Sabha and Lok Sabha respectively.

"Essentially, the two offences viz the predicate offence and the PMLA offence are required to be tried by the same court." Since the allegations in the present complaint were arising from the predicate offence, the file in the predicate offence were required to be called for perusal, the court added.

"However, the power of assignment or transfer of a matter is not vested with this court and is rather the prerogative of the Principal District & Sessions Judge, Rouse Avenue Courts Complex, New Delhi." The ED on Saturday said it has served notices to take possession of immovable assets worth Rs 661 crore that it had attached as part of a money laundering probe linked to National Herald newspaper and the AJL.

The ED investigation began in 2021 after a metropolitan magistrate in Patiala House courts in Delhi took cognisance of a private complaint filed by BJP leader Subramanian Swamy on June 26, 2014.

The complaint, the ED said, highlighted a "criminal conspiracy" by several prominent political figures, including the first family of the Congress party led by Sonia, Rahul, late Congress leaders Motilal Vora and Oscar Fernandes aside from Dubey, Pitroda and a private company Young Indian for their alleged involvement in money laundering in relation to the fraudulent takeover of properties valued over Rs 2,000 crore belonging to the AJL.

"The legal proceedings against the accused have faced challenges but have been upheld by both the Delhi High Court and the Supreme Court of India, allowing the investigation to proceed," the ED said.

Sonia and Rahul Gandhi are majority shareholders of Young Indian with 38 per cent shares held by each one of them. They were questioned for hours by the ED in this case a few years ago.

The ED claimed its investigation has "conclusively" found that Young Indian, a private company "beneficially owned" by Sonia and Rahul, "acquired" AJL properties worth Rs 2,000 crore for a mere Rs 50 lakh, significantly undervaluing its worth.

"Young Indian and AJL properties were used for generation of further proceeds of crime in the form of bogus donations to the tune of Rs 18 crore, bogus advance rent to the tune of Rs 38 crore and bogus advertisements of Rs 29 crore," it alleged.

Congress general secretary in-charge communications Jairam Ramesh asserted that the Congress and its leadership would not be silenced and that the truth shall prevail.

"Filing chargesheets against Sonia Gandhi, Rahul Gandhi, and some others is nothing but politics of vendetta and intimidation by the prime minister and the home minister gone completely berserk," Ramesh said in a post on X.

"Seizing the assets of the National Herald is a state-sponsored crime masquerading as the rule of law.” Congress leader Abhishek Singhvi termed the case as "fake" and said by indulging in such action, the government is exposing itself and its vendetta politics.

"As stated years ago when this was initiated, the National Herald case is a one-trick wonder where this government has started a money laundering investigation without there being any movement of money, any movement of property, any activity which caused a transfer," he said in a video statement. PTI UK NES AMK SKC PK GSN GSN GSN

Topics

Acts Income Tax