WhiteWolf Posted January 19, 2011 Report Share Posted January 19, 2011 New Delhi: The Supreme Court has criticized the government for its handling of black money planted by industrialists and others in foreign bank accounts. "It is a pure and simple theft of the national money. We are talking about mind-boggling crime...it's not about treaties," said the court. The case is based on a petition filed by former Law Minister Ram Jethmalani and others to retrieve black money being held in foreign banks. The government has submitted to the Supreme Court a list of 26 Indians who have accounts in tax haven Liechtenstein's LGT Bank but has said these names should not be made public because it would violate an agreement between India and Germany. The case will next be heard on the 27th of this month when the government will have to explain to the court why the names of the account-holders should not be made public. (With PTI Inputs) http://www.ndtv.com/article/india/black-money-is-mind-boggling-crime-supreme-court-80279?trendingnow Link to comment Share on other sites More sharing options...
Mel81x Posted January 19, 2011 Report Share Posted January 19, 2011 what do they plan to do when they get all this money back? Link to comment Share on other sites More sharing options...
DevilsOwn Posted January 19, 2011 Report Share Posted January 19, 2011 what do they plan to do when they get all this money back? distribute money to the needy .... you know who Link to comment Share on other sites More sharing options...
kunallkw Posted January 19, 2011 Report Share Posted January 19, 2011 what do they plan to do when they get all this money back? Cloning of corrupt people Link to comment Share on other sites More sharing options...
Buzz Posted January 19, 2011 Report Share Posted January 19, 2011 distribute money to the needy .... you know who That is not possible in our country, or in any country for that matter Link to comment Share on other sites More sharing options...
Pushy Posted January 19, 2011 Report Share Posted January 19, 2011 so that they may get their share? wtfisdisheet! f**k them all...f**k the govt. f**k the industrialists....RRAAAAGGGEEEEEEEE Link to comment Share on other sites More sharing options...
abhi90 Posted January 19, 2011 Report Share Posted January 19, 2011 getting back black money for dubious uses Link to comment Share on other sites More sharing options...
Django_3101 Posted January 20, 2011 Report Share Posted January 20, 2011 Change the currency sab black money dhari ki dhari reh jaeygi Link to comment Share on other sites More sharing options...
Paapi Posted January 20, 2011 Report Share Posted January 20, 2011 I was watching a talk show some time back and done remember exactly about it but some speaker suggested something really good. The black money economy is way to big in India then the white money economy. Major of this money is with businessmans and is in real estate. How the black money is generated is when you pay for a transaction which is not taxable. This can be simply avoided by revamping the real state tax structure, cutting down on different taxes and eliminating the income tax. Also, instead of having 10 types of different taxes, implement one universal tax from source. Once this is done, not only you will get black money economy stopped to a certain level, the tax revenue will also go higher because people will no longer need to hide the transactions to avoid tax deductions. Its a pity that we Indian pay tax two times for every rupee we earn. Link to comment Share on other sites More sharing options...
megzworld Posted January 20, 2011 Report Share Posted January 20, 2011 I want my TAX MONEY back.. Link to comment Share on other sites More sharing options...
Paapi Posted January 20, 2011 Report Share Posted January 20, 2011 http://news.in.msn.com/national/article.aspx?cp-documentid=4814287 Proud to be IAS Link to comment Share on other sites More sharing options...
shekdown Posted January 20, 2011 Report Share Posted January 20, 2011 I was watching a talk show some time back and done remember exactly about it but some speaker suggested something really good. The black money economy is way to big in India then the white money economy. Major of this money is with businessmans and is in real estate. How the black money is generated is when you pay for a transaction which is not taxable. This can be simply avoided by revamping the real state tax structure, cutting down on different taxes and eliminating the income tax. Also, instead of having 10 types of different taxes, implement one universal tax from source. Once this is done, not only you will get black money economy stopped to a certain level, the tax revenue will also go higher because people will no longer need to hide the transactions to avoid tax deductions. Its a pity that we Indian pay tax two times for every rupee we earn. Did you even think before posting this or are you plainly going by whatever that talk show suggested? Having a single tax law would be the dangerous thing the revenue authorities could do. The whole reason they have many tax laws is to help protect the revenue and avoid it. I love the way people blame the govt or tax authorities for charging high tax rates, when they are the ones who dont disclose their full income and pay full taxes. If the tax rate is reduced to 8%, do you think people would start paying all their taxes? Nope. Im pretty damn certain they'd look at cutting down that 8% too. I personally came up with a plan where, how, tax can be augmented and implemented very smoothly. This is a plan that I came up way back when I just started working, I havent really put too much thought into it, but it seemed quite sensible, I think ill start a thread with this idea to find out what the people think Link to comment Share on other sites More sharing options...
Nemo Posted January 20, 2011 Report Share Posted January 20, 2011 @ paapi how about thousands of others civil servants who have been working tirelessly for years, making the govt machinery work ? you know that statement of yours is highly irresponsible. there are bad influences everywhere and here they are rightfully caught. R. Raju was caught scamming, the OP mentions about big industrialists having black money, do you see anyone maligning the indian entrepreneurial class ? Link to comment Share on other sites More sharing options...
nasty2857068 Posted January 20, 2011 Report Share Posted January 20, 2011 how about thousands of others civil servants who have been sleeping for years, making the govt machinery cappier than it already is Fixed it Reservation FTW !!! Link to comment Share on other sites More sharing options...
Nemo Posted January 20, 2011 Report Share Posted January 20, 2011 ^^ yes there are corrupt officials but there are more than able number of honest bureaucrats. you just have to open them googly eyes and look beyond the "zomg ias = andha paisa and sloth" routine. Link to comment Share on other sites More sharing options...
praveer Posted January 20, 2011 Report Share Posted January 20, 2011 Almost everyone does corruption on some level or other, directly or indirectly.....the system demands it actually. On a lower/mid level its simply because the income is too low to sustain a good life for the person and his family in this day and age, and on a higher level its cause of, well....greed. As for Tax rates/duties, we all know that they are imposed in a ridiculous manner, avoiding it means dodging the law...but that doesn't means paying whatever they ask for is fine. In a country like ours, one can never eliminate corruption. Link to comment Share on other sites More sharing options...
Paapi Posted January 20, 2011 Report Share Posted January 20, 2011 ^^ I need to find those officials who are working tirelessly and SELFLESSLY.... so far in any govt department I go,.. I see corruption, so if they are doing some thing sincerely then it is not visible or may be these selfless and tireless IAS are in so minority that it doesnt shows. In any case I am paying tax and for that reason I stand by my statement because thats my money. Also the majority is always counted and not exceptions... Link to comment Share on other sites More sharing options...
praveer Posted January 20, 2011 Report Share Posted January 20, 2011 There are people lots of people who do work sincerely, but still do corruption. You know about these Anti Corruption bureaucrats right ? Well how would you react if I tell you that these people are just as corrupt as anyone else ? Here's what they do..they'll carry out a raid at someone's place and once they estimate the total worth of the property they'll demand a percentage in order to keep their mouth shut....yes its blackmailing but the person in question has no other choice other than to lose his job, so he'll always comply with the demands of the Anti Corruption bureaucrats. Link to comment Share on other sites More sharing options...
Paapi Posted January 20, 2011 Report Share Posted January 20, 2011 ^ ^ yaa its like good taliban, bad taliban and moderate taliban... Link to comment Share on other sites More sharing options...
playstation Posted January 20, 2011 Report Share Posted January 20, 2011 Almost everyone does corruption on some level or other, directly or indirectly.....the system demands it actually. On a lower/mid level its simply because the income is too low to sustain a good life for the person and his family in this day and age, and on a higher level its cause of, well....greed. As for Tax rates/duties, we all know that they are imposed in a ridiculous manner, avoiding it means dodging the law...but that doesn't means paying whatever they ask for is fine. In a country like ours, one can never eliminate corruption. +1. respect bro. but whatever it is lower/mid level income wala can hardly live if they dont take bribes and all....income level is so low here.....it is sad true.....we cannot blame them much ....they also have to see their kids,family......it is people like these ias officers,Kalamadi and co..... that this country coz there money is not even being utilized In india but put in foreign banks which are enjoying the benefit of our money . Link to comment Share on other sites More sharing options...
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