MoF :: GoI sets-up tax administration reform commission under Dr. Parthasarathy Shome
In his Budget Speech 2013-14 in the Parliament on 28.02.2013, the Finance Minister had announced as under: An emerging economy must have a tax system that reflects best global practices. I propose to set-up a Tax Administration Reform Commission to review the application of tax policies and tax laws and submit periodic reports that can… Read More
Tags: Administration Reform Commission, Central Board of Excise & Customs, Central Economic Intelligence Bureau, Directorate General of Economic Enforcement, Financial Intelligence, National Security, Tax, Taxation in India
MoF Clarification on Online Monitoring of Evasion of Taxes
Under the provisions of the Prevention of Money Laundering Act, 2002 and the rules framed there under, it is the responsibility of the banks and other financial institutions to detect suspicious transactions and report such transactions to the Financial Intelligence Unit-India (FIU-IND) under the Ministry of Finance. FIU-IND is responsible for receiving and analysing such… Read More
Tags: Financial Intelligence, FIU, Florida International University, India, Indirect tax, Law enforcement agency, Lok Sabha, ministry of finance
Detection of Corporate Frauds
The Serious Fraud Investigation Office (SFIO) of the Ministry of Corporate Affairs has signed two Memorandums of Understanding (MoUs) on 18-03-2013 with: (i) the National Institute of Electronics and Information Technology (NIELIT), an autonomous scientific society of the Department of Information Technology, Government of India for setting up a Forensic Lab within SFIO premises in… Read More
Tags: Corporate Affairs Ministry, Financial Intelligence, India, Memorandum of understanding, New Delhi, Rajya Sabha, Sachin Pilot, Serious Fraud Investigation Office, SFIO
MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds
Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and… Read More
Tags: Corporate Affairs Ministry, Financial Intelligence, FIU, Memorandum of understanding, SFIO
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