It is a great job. if these black money accumulators chose to declare their earnings the the revenue would have been only 35% i.e.Rs.10,500 crores only. Since the department allowed these people to accumulate black money and the Govt. not announcing another Voluntary Disclosure of Income Scheme which also would have made these people to pay the tax and keep the rest of the declared wealth to themselves, the department could get so much black money seized. So it is a bless in disguise to the Govt. If the black money stashed in other countries could be seized like this then the Govt. can consider reducing the taxes and use the seized money for development after enhancing the salaries and perks of the law makers to their satisfaction.
Money is the medium of of all evils.If it is earned by legal manner it is white,if it is earned by illegal procedure or unaccounted,it is Black. We must be sincere and honest to reveal the black money which can be used for the beneficial works of the people.
This must be just the tip of the iceberg. Go after the big politicians, including the congi bigwigs who made money in CWG (Sonia and Rahul) and 2G (MK, Kani and even PC) and I am sure this 30,000 crores would become 90,000 crores within no time.
Re: Taxmen recover Rs 30,000-crore black money
by aparna bhardwaj on May 19, 2011 12:13 PM
No, much more than 90kCr. If Taxmen serious they must start a permanent list on the web listing all the names of such, serial wise, as per name , address ,year ,amount fined & recovered, company ,city. From 10 lakhs upwards. So the aam aadmi can be made aware.
Re: Cash crunch
by sisir majumder on May 19, 2011 12:04 PM
Its a good attitude to reveal the concealed black money.The search of unaccounted money or black money is a praise worthy venture.
In all real estate deals there is almost 30-70% black money involved. Go after real estate deals and you will find the ocean of black money.
Start with asking people to complain against builder who is asking for partial payment in cash instead of checks, that will solve 2 issues: 1. It will curb the corrupt practice of hiding money from those deals i.e. more taxes for government 2. It will curb the black money transactions.
IT people are punishing patriots who keep their money within the country. They are not bothered about those who keep money in the swiss banks. always "PHOREN" is great. Amnesty scheme for swiss bank clients is on the cards.
If kanimozhi being daughter of CM and a MP for just 2 years amassed 214 crores,
how much money did Indira, daughter of Prime Minister Nehru made? how much money did Rajiv Gandhi, Son of Prime Minister Indira made? how much money did Sanjay Gandhi, Son of Prime Minister Indira made? how much money did Rahul Gandhi, Son of Prime Minister Rajiv made? how much money did Priyanka Gandhi, daughter of Prime Minister Rajiv made?
