PARADISE PAPERS NEWS

Paradise Papers: Cox & Kings used offshore route to cut tax in Germany, UK September 13, 2020 10:04 am On June 8, the Enforcement Directorate (ED) searched the office of Cox & Kings, the residences of its promoter Ajay Ajit Peter Kerkar and other senior executives under the Prevention of Money Laundering Act in connection with a Rs 3,642 crore fraud at Yes Bank Ltd.

New offshore records reveal several Indian firms tapped Mauritius route to save on taxes September 13, 2020 9:55 am The Double Taxation Avoidance Agreement (DTAA) was signed between India and Mauritius in 1982. Under this, any entity could apply for tax residency and pay zero capital gains tax. This became the principal reason why Mauritius emerged as a top channel for investments being routed into India.

Lucknow, Mumbai and Chennai: First prosecutions filed in Paradise Papers September 13, 2020 9:55 am After the release of the Paradise Papers, the Finance Ministry announced that details of offshore holdings of 714 Indians named would be investigated by the Multi Agency Group which was set up after publication of the Panama Papers in April 2016.

Express-OCCRP report: Indians who have ties to tax havens are linked to prime real estate in Dubai June 14, 2018 6:54 am According to Indian laws, it is not illegal for Indians to own property in Dubai. As per the Foreign Exchange Management Act of 1999, resident and non-resident Indians are allowed to own immovable properties abroad.

Indians probed by govt agencies are linked to high-end real estate in Dubai June 14, 2018 5:08 am Of the 129,000 entries in the Dubai database from 181 countries, those of Indians form a sizeable chunk with 5,800 linked to properties in top sites such as the Palm Jumeirah, The World, Motor City, Emirates Living, Dubai Marina, Burj Dubai, Old Town Island.

Paradise Papers: I-T sleuths raid Jalandhar businessman’s properties December 29, 2017 1:08 am The raids, led by additional director of I-T in Ludhiana Ritesh Parmar, began Wednesday night and continued on Thursday. Around 15 teams of income tax department carried out the raids at different places in Jalandhar and Ludhiana.

Paradise Papers: First set of Income Tax summons go out December 13, 2017 7:17 am Officials said the first set of summons with specific questions for each were sent in end-November.

Facebook can't regulate self, ensure data privacy: Ex-employee November 21, 2017 2:46 pm A former Facebook employee believes that the social media giant should not be asked to regulate its own data privacy, as it would not be able to do so.

Paradise Papers: Kundra family trust silent on source of money invested in India via Bahamas-Mauritius November 12, 2017 7:04 am Ripu Sudan Kundra alias Raj Kundra and his parents used a layered offshore trust-company structure to channel EUR 2 million to pick up direct and indirect interests in two companies each in India and UK