Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TDS :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: due date for vat payment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: VAT RATES :: form 3cd
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

Money laundering Act to cover casinos, credit cards
June, 06th 2008

The government has decided to bring casinos, credit cards and money changers under the ambit of the money laundering law.

The Union Cabinet on Wednesday gave its approval for introduction of Prevention of Money Laundering (Amendment) Bill, 2008 in Parliament.

According to this amendment, it will be mandatory for financial intermediaries to report all suspected transactions involving international transfers to the financial intelligence unit (FIU).

At present, only banks and other financial institutions have to report suspicious transactions on a regular basis to the FIU under the finance ministry.

This bill will arm the government with more powers to prevent the flow of foreign currency coming into the country via illegitimate channels and making its way to terror organisations.

It will enable the Centre to meet certain domestic needs and international obligations. The finance ministry had favoured the changes as Reserve Bank of India has control only over banks, while money transfer service providers are in operation without any control, sources said.

"The bill will give more teeth to the legislation with provisions for punitive action for money laundering. The amendments to PMLA are being made in line with the recommendations by the Financial Action Task Force, an inter-governmental body founded by G7 countries to develop policies to combat money laundering and terrorist financing," information and broadcasting minister Priyaranjan Das Munshi told reporters after the meeting.

The Prevention of Money Laundering Act, 2002 (PML Act) was enforced in 2005 to prevent money laundering and provide for attachment, seizure and confiscation of proceeds of crime obtained, directly or indirectly from such activities.

The Cabinet also approved the implementation of the east-west Metro Corridor project in Kolkata, covering a length of 13.77 km at a cost of Rs 4,676 crore.

Separately, the Cabinet committee on economic affairs approved the revised draft agreement between the US and India for financing education exchange programmes.

According to the draft, the name of Fulbright Scholarship has been changed to Fulbright-Jawaharlal Nehru Scholarships.

The deepening of the channel and basin of Tuticorin Port to cater to bigger vessels at an estimated cost of Rs 538 crore, was also approved.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions