There will be higher charges for bank account-holders.
Rejecting the Election Commission's suggestions on transparency and accountability in poll funding, the Congress party has expressed its inability to issue receipts to all persons or companies making donations to it for elections as it "neither practical nor possible".
Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
Sanjeev Nayar offers some ideas on how Indians can help in improving the lives of those living in border areas and in the process help the Indian Army.
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
