Thu, Aug 17, 2017 | updated 11:48 AM IST

Amending DTAAs buried black money route into India, says FM

Updated: Dec 30, 2016 18:27 IST      
Amending DTAAs buried black money route into India, says FM

New Delhi [India], Dec 30 (ANI): Finance Minister Arun Jaitley on Friday said that India has signed the Double Taxation Avoidance Agreement (DTAA) amendments with Singapore.

Addressing a press conference here he said, "The amending DTAAs have buried route of black money into India, and there have been apprehensions that old provisions were being used for round-tripping and revisiting DTAAs was important to tackle black money."

He further said that the government had earlier amended DTAA's with Mauritius and Cyprus, and with effect from 2019, Switzerland will also start giving the real time info on investments by India or Indian entities in Switzerland in 2018.

"Must say that 2016 has been historic because three double taxation avoidance agreements, which provided routes to evade taxations have been blocked," added the minister.

Adding to this, Arun Jaitley said that 2019 will see the entire capital gains tax flowing back to India.

He said that the Reserve Bank of India (RBI) is adding high denomination notes every day, and from tomorrow all currency in recirculation will augment existing currency stock.

"Demonetisation data is yet to be tabulated but the situation has normalized to quite an extent, crowds at banks have reduced significantly," added the minister. (ANI)

New Delhi [India], August 17 (ANI): HDFC Bank on Thursday announced a revision in its savings bank interest rate, effective August 19.

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New Delhi [India], August 17 (ANI): India's national air carrier Air India launched its first non-stop flight, the Dreamliner B-787, to Stockholm, Sweden, from Delhi on Wednesday. With an all-female crew on board,the cockpit was under the control of Capt.Nivedita Bhasin.

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New Delhi [India], August 17 (ANI-BusinessWire India): Travel technology start-up TRAVELSPICE on Thursday announced an increased use of data analytics, machine learning, BOT services and the scalable infrastructure offered by Microsoft Azure to support India's only and rapidly growing e-commerce hotel booking platform.

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New Delhi [India], Aug 16 (ANI-Newsvoir): Kwality Ltd., amongst largest and fastest growing private dairy companies in India, today announced that the Board has considered and approved appointment of MSKA and Associates ('MSKA') as its new statutory auditors for the period FY 2017-18 to FY 2021-22, subject to approval from shareholders in Annual General Meeting proposed to be held in Sep' 2017.

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New Delhi [India], Aug 16 (ANI-NewsVoir): Alliances Galore - The largest offers based Merchant Acquirer in the country and globally has recently completed a milestone of 1,000,000 alliances for its clients.

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Home buyers left in lurch: Insolvency and Bankruptcy Code favours financial creditors

Updated: Aug 16, 2017 17:51 IST      By: Gaurav Gaur

New Delhi [India], Aug.16 (ANI): Insolvency and Bankruptcy Code 2016(IBC 2016), has been enacted to reorganise and provide insolvency resolution for corporate entities and partnerships in a time bound manner. The nub of the code is to bring back defaulting companies on road to recovery, to promote entrepreneurship, availability of credit and balance of interests of all stakeholders.

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New Delhi [India], Aug 16 (ANI-BusinessWireIndia): PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced PerkinElmer India's opening of a Centre of Excellence at Indian Institute of Science Education and Research (IISER), Pune.

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New Delhi [India], Aug 16 (ANI-BusinessWireIndia): The International Career and College Counseling (IC3) platform invites participation of schools, colleges and universities from India and across the globe. The two-day conference is scheduled for August 30 and 31 at the JW Marriott, Aerocity, New Delhi.

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New Delhi [India], Aug 16 (ANI-NewsVoir): Successful meditation depends completely on the mental state of the meditator. Incense facilitates meditation as it creates a positive visual impact; certain fragrances in the incense impart positive impulses to the brain.

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IRCTC launches international tours for Lanka, Russia

Updated: Aug 16, 2017 16:15 IST     

New Delhi [India], Aug.16 (ANI): The Indian Railway Catering and Tourism Corporation Ltd. (A Govt. of India Enterprise) under Ministry of Railways is one of the biggest e-commerce website across Asia.

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TAB Capital surpasses Rs.101 cr worth loan disbursement

Updated: Aug 16, 2017 13:24 IST     

New Delhi [India], August 16 (ANI): Pune-based Non Banking Financial Company (NBFC) TAB Capital on Wednesday announced crossing an assets under management (AUM) to the extent of Rs. 101 crores, as of July 31, with an aim to reach at a worth of Rs. 500 crores in the next two years.

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New Delhi [India], August 16 (ANI-NewsVoir): The seventh edition of the Harvard Model United Nations India hosted by the Harvard IRC and Worldview Education kicked off with its opening ceremony on the August 12, 2017. With over 1500 delegates attending this year, the biggest conference yet, the delegates have debated on prominent issues such as funding "Sustainable growth in Africa", "Mental health awareness and treatment" and many other issues as well with solutions in the form of a resolution at the closing committee sessions on August 15.

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New Delhi [India], Aug 15 (ANI): Ministry of Electronics and Information Technology, taking a strict measure against the deadly online game, Blue whale Challenge, has asked the social media giants like Google, Facebook, WhatsApp, Instagram, Microsoft and Yahoo to immediately remove all the links relating to the game, on Tuesday.

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New Delhi [India], Aug 14 (ANI): The Consumer Price Index (CPI) on Monday came in at 2.36 percent for the month of July, as against a market estimate of around two percent.

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Tata Motors hires P B Balaji as Chief Financial Officer

Updated: Aug 14, 2017 18:28 IST     

New Delhi [India], Aug 14 (ANI): Tata Motors on Monday announced the appointment of P B Balaji as the new Chief Financial Officer, Tata Motors Group from November 2017, to drive financial performance and bring greater rigor to operations and investment decisions across the different entities.

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New Delhi [India], Aug 14 (ANI-BusinessWireIndia): HCL Technologies (HCL) continues to pioneer best-in-class A.I-powered solutions to transform entire IT services landscapes as well as business processes and application engineering processes. HCL has recently launched 'Cognitive Orchestrated Process Autonomics (COPA)' Platform for enterprise-wide process revamp and 'Transformation through Autonomics and Orchestration (TAO)', bringing top-end consulting services to enterprises, looking to rebuild their business and IT systems on the foundation of A.I.

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New Delhi [India], August 14 (ANI-BusinessWire India): Ruchi Soya on Monday welcomed the hike in import duty on edible oils announced by the government late last week, accompanied by an increase in the duty differential.

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WPI up by 1.1 percent from June, inflation at 1.88 percent

Updated: Aug 14, 2017 15:21 IST     

New Delhi [India], August 14 (ANI): The Wholesale Price Index (WPI) for all commodities for the month of July 2017 registered a 1.1 percent surge from June, and was recorded at 113.9 (provisional) from 112.7 (provisional) for the previous month.

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