Tamil Nadu Governor RV Arlekar announced that the TVK regime, led by Chief Minister C Joseph Vijay, will take steps to ensure fair financial devolution from the Centre, including pursuing the matter in the Supreme Court. The government also plans to conduct a 'Social Justice Survey' and address the state's severe financial deterioration.
Raising the issue of black money stashed away in foreign banks, BJP's Prime Ministerial candidate L K Advani on Wednesday said that if the money is routed back to the country it could be used for development work.
Death may be a tragic affair, but cinema has often found humour lurking even within the morbid.
The Supreme Court-appointed SIT on Friday called for effective norms to curb betting in cricket and a stronger set of norms for P-Notes, while also making a case for bringing donations to educational and religious bodies under tax net.
Political funding of elections has led to the rise in black money in the economy.
The agreement, convention on mutual administrative assistance in tax matters, is a multilateral agreement of 31 other nations.
If one has to compare the tenures of the two prime ministers one must credit Nehru with laying the foundations on which Modi is building a grand edifice, asserts Colonel Anil A Athale (retd).
As part of efforts to tackle the menace of black money, the government has commissioned studies to estimate the amount of unaccounted income and wealth.
If you enjoy dark comedies, have even a passing understanding of the film industry, or simply recognise the absurdities of the world around you, then Mollywood Times emerges as one of the sharpest and most compelling love-hate letters written to Malayalam cinema, applauds Sreeju Sudhakaran.
FinMin working to ensure all govt transactions are done electronically, says official
Revenue department would come out with more clarifications through FAQs on the Undisclosed Foreign Income and Assets Act.
Deputy Chairman of the Supreme Court-appointed Special Investigative Team on black money, Justice Arijit Pasayat, said Rs 70,000 crore of black money has been unearthed so far and the sixth report on it will be submitted to the apex court in April.
.jpg)
There is no doubt that the Modi government has showed greater urgency in unearthing unaccounted money stashed away by some Indians in tax havens and other countries, enjoying the advantages of the latter's banking secrecy laws.
The Enforcement Directorate (ED) has arrested self-styled godman Ashok Kharat, accusing him of systematic extortion and money laundering through a network of bank accounts. Kharat allegedly rotated over Rs 47 crore of ill-gotten money through 60 bank accounts, deceiving devotees by claiming divine powers.
'While higher prices may create some financial burden for patients and caregivers in the short term, uninterrupted access to treatment remains the greater priority.'
Replying to an RTI query, the PMO said a Special Investigation Team (SIT) has already been formed and its investigation is underway.
Bharatiya Janata Party state president Shamsher Singh Manhas said the menace of corruption has also gripped Jammu and Kashmir.
Bharatiya Janata Party leader L K Advani on Saturday questioned the silence of Congress President Sonia Gandhi on black money, corruption and inflation and asked her to speak on these issues.
The government notified the compliance window under the Act.
On Wednesday, the Modi sarkar placed a list of names of 627 Indian account holders in HSBC bank, Geneva in the black money case before the Supreme Court. While on the campaign trail, bringing back black money stashed away in foreign banks was one of the biggest election promises made by Narendra Modi. Rediff.com takes a look at some of the prime minister's tall assurances.
India and OECD -- grouping of mostly industrialised nations -- have agreed to strengthen cooperation in cross border taxation issues, the finance ministry said on Wednesday.
Aiming to intensify government's drive on black money, the PMO has asked the revenue department to look for ways other than bilateral tax treaties to bring back funds stashed abroad.
The Income Tax Department has not recommended 'amnesty scheme' to deal with the issue of black money, the government said on Wednesday.
Aiming to "awaken people about corruption and black money", Yoga guru Baba Ramdev on Tuesday started the 1,00,000-km-long Bharat Swambiman Yatra from Jhansi. "My yatra, 2012 Mahasangram, will awaken people in the entire country on the issue of black money and corruption. The Mahasangram, which started from the land of Veerangana Rani Lakshmi Bai, will reach Parliament one day," he said on the first day of the yatra.
Uttam Ghosh on Narendra Modi's pre-election promise to get back black money stashed in tax havens abroad.
The government's committee on unaccounted ('black') money met on Friday to discuss changes in existing legislation to address the issue.
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
Finance ministry maintains that all KYC requirements will be followed.
This concession will be available only to those who had not received any intimation.
The 97-page document tabled by Finance Minister Pranab Mukherjee made a strong case for setting up Lokpal and Lokayuktas. Though, there was no was mention of government's estimate of black money within and outside the country, it pitched for courts to expeditiously deal with the offence.
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
The Central Board for Direct Taxes on Friday said a black money declarant under the PMGKY scheme will be allowed to file declarations under the stipulated Form 1 by April 10, if tax and penalty is paid by the deadline that ends on March 31 (Friday).
It suggested reforms in the real estate sector.
'Alas, in this scheme there is nothing to stop the black money flows of the future.' 'On the contrary Modi has sown the seeds of more, through the issue of Rs 2,000 notes.' 'But have you heard one politician decrying this aspect of the scheme?' 'They must be secretly rejoicing that while Modi is taking away their past, he has not shut the door on their future,' says banker S Muralidharan.
As real estate is about a tenth of the Indian economy, the extent of black money floating around in the sector is huge.
New CII President B Muthuraman on Wednesday said an amnesty scheme for unearthing black money is feasible provided the government gives a strong message that those not declaring this type of funds will go to jail.
Following the disclosure of eight names in the black money case by the Centre, senior Janata Dal-United leader and former chief minister of Bihar Nitish Kumar questioned the Bharatiya Janata Party-led government's action on Monday and launched a scathing attack on the government.
The President, while addressing the concluding ceremony of celebrations for 150 years of the Income Tax Department, also made a strong case for tightening laws to book tax evaders.
Claiming that black money to the tune of Rs 500 lakh crore (Rs 500 trillion) was stashed by Indians in foreign banks, yoga guru Baba Ramdev has advocated for bringing that money back home.
In a rather candid disclosure, a top Income Tax official has admitted that the diamond trade has one of the highest prevalence of black money, with investigations revealing that books in the sector are "completely manufactured".
