Govt. identifies 2,38,223 Companies as Shell Companies between 2018-2021
There is no definition of the term “Shell Companies” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal
Harsh Punitive Actions to be taken against the deviant Shell Companies, says Finance Ministry
A Task Force set-up under the Co-chairmanship of the Revenue Secretary and Corporate Affairs Secretary with members from various regulatory Ministries and Enforcement Agencies to monitor the actions taken against deviant shell companies by various
Income Tax Evasion through Shell Companies: Tax Dept trains Officers
In a move to detect black money through the shell companies, the income tax department has decided to focus and enhance the skills of Assessing Officers. At the Direct Taxes Regional Training Institutes, AOs have
B.Com Vacancy in Shell
Shell has invited applications for the post of Senior Analyst - TSA NA Products. QUALIFICATIONS Master’s/Bachelor’s degree in Accounting or Finance or related business degree.Strong experience in Accounts Payable or Accounts receivable domain with Minimum
ED arrests Promoter of Supertech Ltd R.K. Arora diverting fund of Rs.440 crores of Homebuyers to Shell Companies
The Directorate of Enforcement (ED) arrested Ram Kishor Arora on June 27, 2023 under the relevant sections of the Prevention of Money Laundering Act, 2002. Arora is the promoter and director of Supertech Limited. The
GST dept unearths Shell Companies in Cotton Trade in Ludhiana
The Goods and Services Tax ( GST ) department has reportedly detected a scam by three shell firms which sold cotton to five firms of Ludhiana. Such firms claimed the input credit tax (ITC) to
GST Fraud: Dept arrests Owners of 11 Shell Companies
The Goods and Services Tax ( GST ) department has arrested the owners of eleven companies in a case relating to tax evasion. The arrest was made on the recommendation of the State Excise and
Income Tax Commissioner arrested for receiving Bribe
The CBI, on Friday arrested a Delhi-based Income Tax Commissioner Shwetabh Suman, for allegedly receiving fifty lakh rupees as bribe for passing favourable orders in tax assessment of a businessman in a shell company matter. The amount
Registered Office & Signatory of Shell Companies are Under Scanner: Govt’s Operation Total Cleanup
In a further drive to smooth up the Indian Corporate Sector after taking up diverse stringent actions in opposition to the shell companies keeping in view the ultimate target of preventing the generation and circulation
Financial Frauds: Govt plans to collect Passport Details of Company-Directors
In order to prevent fraudsters from fleeing the country, the Ministry of Corporate Affairs may consider a proposal to collect passport details of the Directors of Companies, said a report. As per reports, the proposal
Shell Companies: Around 2,25,910 Companies identified for being Struck-off this Year, Says Finance Ministry
The Task Force on Shell Companies has met 8 times since its constitution and has taken pro-active and coordinated steps to check the menace of shell companies. The ‘Task Force’ was set up in February, 2017
Income Tax Department conducts searches in Tamil Nadu
The Income Tax Department conducted searches on a prominent business group located in Chennai on 26.02.2021. Search was conducted at 11 premises and surveys in 9 premises of the group in Tamil Nadu, Gujarat and
Post Note Ban Bank Data reveals 5,800 companies with 13,140 Suspicious Accounts: Govt. orders Investigation
In what is undoubtedly a major breakthrough in its fight against black money and shell companies, vital information has been received by the Government of India from 13 banks regarding the bank account operations and
95% of Appeals in relation to Share Application and Share Premium are filed by Shell Companies: ITAT Kolkata [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has recently observed that the appeals filed in relation to share application and share premium are done by Shell Companies, devoid of any business. A
Govt to Strike Off Names of 1.20 Lakh more Shell Companies
Names of 1.20 Lakh more Shell Companies are soon to be de-registered due to non-compliances, the Government said on Tuesday. It was said that as part of fighting against the black money menace, the Nearly