New Delhi, Aug 18: The Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances. The exercise follows data analysis and ground intelligence indicating significant overseas remittances by entities with little or no reported business activity.

An official said that based on ground intelligence and analysis of data on outward foreign remittances, the Income Tax Department has identified several suspicious entities that remitted large amounts of foreign exchange over the last three years. He said a nationwide network of entities engaged in remitting funds abroad was uncovered during a search operation conducted on a group of fictitious charitable trusts involved in providing accommodation entries against bogus donations/contributions.

Preliminary ground verification revealed that the entities making these remittances were either non-filers or were filling income-tax returns showing very small turnovers. The turnovers had no apparent correlation with the large amounts of money being remitted abroad. They also did not appear to match the stated purpose of the remittances, such as payment for freight, import of software, or import of consulting services. Further ground-level intelligence revealed that these entities were not actually operating from the addresses declared by them, the official said.

They said the further analysis of the data also revealed that a large number of Form 15CB certificates were issued by a relatively small group of professionals. The remitted funds were also received by a clustered group of entities. Form 15CB, read with Rule 37BB of the Income-tax Rules, 1962 (corresponding to Form 146 read with Rule 220 of the Income- tax Rules, 2026), requires the Accountant certifying a foreign remittance to verify its taxability with reference to the books of account and other relevant documents. However, the findings raise concerns about whether adequate due diligence was carried out by the Accountants before issuing these certificates.

On 18.08.2026, the Department launched a nationwide detailed verification exercise to verify these foreign remittances, focussing on shell entities, the persons behind them, and the professionals who have issued Form 15CB certificates. Entities located in districts along the country’s land borders and remitting significant amounts of money abroad have also been covered in the exercise. The exercise has covered approximately 394 entities (including 117 entities located in land-border States), and 36 professionals.

The Department emphasised that Accountants issuing certificates in Form 15CB/Form 146 are expected to exercise due care, diligence and professional judgment. They should properly examine the underlying transactions and relevant facts before certifying the remittances, as these certifications play an important role in maintaining trust in the system.

Further investigations are currently underway, the official added.

New Delhi, Aug 18: Gold price climbed Rs 2,000 to Rs 1.58 lakh per 10 grams in the national capital on Tuesday, extending gains for a second straight session as retailers and stockists stepped up buying.

The yellow metal of 99.9 per cent purity appreciated by Rs 2,000 to Rs 1,58,800 per 10 grams (inclusive of all taxes) from Monday’s closing level of Rs 1,56,800 per 10 grams.

Silver also advanced Rs 730 to Rs 2,40,730 per kilogram(inclusive of all taxes), after remaining flat at Rs 2,40,000 per kg for two sessions, according to the All India Sarafa Association.

Globally, spot gold traded 0.5 per cent lower to USD 4,394.57 per ounce, and silver dropped a little over 1 per cent to USD 65.08 per ounce.

Gold was hovering around USD 4,392 per ounce as crude oil rebounded on supply concerns emanating from West Asia, Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, said.

Oil prices gained after the 60-day US-Iran ceasefire expired on Monday. While the period can be extended, neither side is willing to do so, he said.

US President Donald Trump said Washington had an edge over Tehran as the naval blockade continued, while Iran had asked its military to remain steady.

The global investment story, however, continues to provide a cushion. Total known gold-backed exchange-traded fund holdings rose again on Monday to 97.39 million ounces, Singh added.

Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said spot silver eased towards USD 65 per ounce, weighed down by a firm US Treasury yields and some profit-taking.

Despite the pullback, Chainwala said the broader backdrop remained constructive for bullion, supported by softer Fed rate expectations, sustained central bank buying led by China and steady investment demand.

The focus shifts to the minutes of the Federal Open Market Committee’s July meeting for fresh insights on the US monetary policy outlook.

“With the Fed’s policy path yet to be clarified at Jackson Hole Symposium, gold and silver may see continued two-way volatility in the near term,” Chainwala added.

New Delhi, Aug 18: Delhi High Court on Tuesday refused to grant default bail to Jasir Bilal Wani alias Danish, one of the accused in the 2025 Red Fort car bomb blast case.

A bench of Justices Prathiba M Singh and Vikas Mahajan dismissed Wani’s appeal challenging a March 30 trial court order rejecting his plea seeking default bail.

“It is held that the accused is not entitled after 90 days. The appeal is liable to be dismissed,” the bench said.

An accused becomes entitled to default bail if the investigating agency fails to file a chargesheet within the stipulated time.

The NIA arrested Wani, a Kashmiri accused of being an “active co-conspirator”, in November 2025.

The agency has alleged that Jasir provided technical support for carrying out terror attacks by modifying drones and attempting to make rockets.

It has claimed that he worked closely with suicide bomber Umar un Nabi in planning the Red Fort blast.

A Hyundai i20 car exploded near the Red Fort at 6.52 pm on November 10, 2025, killing 15 people and injuring several others.

Nabi was identified as the suicide bomber behind the fatal explosion.

Srinagar, Aug 18: The Unique Identification Authority of India (UIDAI) has achieved a significant milestone in its nationwide mission-mode drive for Mandatory Biometric Updates (MBU), completing over 20 million (over 2 crore) MBUs for school children across the country.

The initiative was enabled by UIDAI’s technological integration with the Unified District Information System for Education Plus (UDISE+), which provides visibility of the MBU status of children at schools.

The special drive, initiated in September 2025, has by now covered over 1.56 lakh schools, enabling school children to complete their Aadhaar biometric updates conveniently through dedicated school-level camps and coordinated outreach by UIDAI and State/UT education departments. This has helped MBU service to reach children directly at their schools, making the process more accessible and convenient for crores of students.

Aadhaar enrolment for children below five years captures demographic information and photograph, while fingerprints and iris biometrics are not captured at that age as these biometrics are still developing. MBU helps ensure that the child’s Aadhaar continues to have updated biometric information.

MBU is required when a child attains the age of 5 years and again at 15 years. Timely completion helps ensure a smoother Aadhaar authentication experience as children progress through school and higher education and access various services and benefits where Aadhaar authentication may be required.

To encourage timely completion and make the service more accessible, UIDAI had waived the charges for MBU for children in the 7–15 years age group from 1 October 2025 for a period of one year. MBU for children in the 5–7 years and 15–17 years age groups continue to be free of charge. So, technically MBU is now free between the ages of 5-17 years till 30 Sept 2026.

Lack of MBU in Aadhaar may lead to difficulties while carrying out authentication for receiving benefits under various Government schemes, registering in competitive and university examinations like NEET, JEE, CUET etc. UIDAI has been urging parents and guardians to complete the MBU in Aadhaar for their children.

New Delhi, Aug 18: The Supreme Court on Tuesday said it would constitute a high-powered committee comprising retired judges, a former DGP, an ex-CBI director and others to examine allegations of police excesses against student protesters in Delhi.

A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V Mohana said an order for constituting the committee would be released on Wednesday after it receives suggestions from different parties on other members to be included in the panel.

The top court further said that it would direct the handing over of video footage and CCTV recordings of the violence during the July 20 Parliament march in Delhi to the high-powered committee for examination.

The panel would also examine complaints and allegations made by female protesters who were reportedly targeted during the protest march in Delhi and other areas.

The bench asked Solicitor General Tushar Mehta to furnish details of FIRs implicating the student protesters, which are to be quashed, indicating that the court may exercise its plenary powers under Article 142 of the Constitution.

“It is the life of students, which is at stake. We have to consider this. They have a future ahead. They have the right to protest under Article 19,” the bench told a counsel, opposing quashing of cases against student protesters without them tendering an apology.

Mehta said police had identified more than 2,800 “anti-social elements”, who had been involved in heinous offences in the past, as responsible for the violence during the July 20 protest.

On August 3, the top court clarified that the expression “criminal antecedents” in its order on releasing student protesters referred only to those involved in grave and heinous offences, and said states could close or withdraw FIRs against the remaining students in accordance with law.

The clarification came after the Centre submitted that it was “serious” about not pursuing FIRs against students who participated in the NEET examination paper leak protests, including the July 20 Parliament march in Delhi, provided they did not have criminal antecedents.

The apex court had earlier observed that police excesses or a ‘lathi charge’ cannot be justified merely because there is an agitation and underlined that the right to peaceful protest was “absolutely guaranteed”.

The Cockroach Janta Party (CJP)-led march on July 20 in Delhi saw clashes between protesters and security personnel, who used lathis and teargas shells to disperse crowds attempting to move towards Parliament.