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The Enforcement Directorate (ED) is learnt to have offered the option of closing a FEMA violation case against e-commerce major Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said.
The Union government has moved a curative petition urging the Supreme Court to reconsider its July 2024 judgment that granted states the legislative authority to impose taxes on minerals and mineral-bearing land, in addition to the royalty collected by the Centre.
The Employees’ Provident Fund Organisation (EPFO) has asked its regional and zonal offices to process part payments in some cases, including non-remittance of employer contribution for certain periods, during the final provident fund (PF) settlement, and not reject the whole claim.
The Employees’ Provident Fund Organisation (EPFO) has rolled out a new facility called ‘Passbook Lite’ on its member portal. With this feature, subscribers can now view a simplified version of their EPF passbook directly within the portal, without needing to log in separately to the passbook website.
Indian tax authorities carried out nationwide raids this week on Mirza International, one of the country’s most prominent footwear and leather companies, intensifying scrutiny of an industry long dogged by allegations of financial opacity.
The Madurai Bench of the Madras High Court, on September 2, set aside an Employees’ Provident Fund Organisation (EPFO) circular dated January 18, which disallowed firms managing their own PF trusts to amend their rules retrospectively in order to avail higher pension for their members, in line with a Supreme Court judgment that enabled workers to get a higher pension in November 2022.
An ED investigation into a gold-smuggling racket being operated across the India-China LAC has found that more than 1,000 kg of the yellow metal worth Rs 800 crore was illegally brought to India with the alleged involvement of a Chinese, some Tibetans and locals in 2023 and 2024.
The US-India technology corridor, long seen as a mutually beneficial partnership, is facing fresh turbulence. A new piece of legislation introduced in the US Congress, the “Halting International Relocation of Employment Act” or HIRE Act, has the potential to upend the foundational model of India’s thriving IT services industry and emerging Global Capability Centres (GCCs).
The UAE has introduced two new ministerial decisions aimed at clarifying how corporate tax rules apply to Free Zone businesses, providing much-needed precision on qualifying activities and acceptable pricing benchmarks.
Probing a massive racket that involved laundering black money out of the country, ED Saturday arrested Amit Agarwal, who has been allegedly found to have used shelf entities to send Rs. 697 crore to Hong Kong and Singapore under the guise of import of goods and services, which were neve received.