Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: cpt :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: empanelment :: form 3cd :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: VAT RATES
 
 
ę General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India‚Äôs crazy retrospective tax on foreign funds will tarnish country‚Äôs reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

IT queries RBI on Lalit Modis credit card payment
September, 04th 2010

The taxman has contacted the Reserve Bank of India (RBI), raising queries on certain international credit card payments of former Indian Premier League (IPL) commissioner Lalit Modi reports Media sources.

After a lull in the tax investigation thee is a new twist to IPL probe. It is learnt that as part of the IPL investigation that was conducted against Modi, there were certain credit card payments made by him which came under observation of the investigation wing of the Income Tax department. There are three main reasons which raised suspicions against Modi.

Sources add that these credit cards were linked to foreign banks. Also the credit cards were in the name of certain confidants of Modi. And thirdly the most important reason is that those confidants hold stake in IPL franchisees.

It is learnt that the Central Board of Direct Tax has written to RBI asking about the details of the credit cards. CBDT wants to know the quantum and nature of expenses incurred by the credit cards used by Modi.  Besides the CBDT is seeking details whether payments made by the credit cards were accounted in IPL books or not and if accounted then under which category gifts or loans.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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