The Chairman of the SIT should be directly answerable to and report to the PM and submit its interim reports every three months and final report in less than one year.
There e an equal number of indians living abroad who have indian assets, monetary and other types. Most of them do not declare these in their tax returns. India can make a good faith disclosure of these assets while expecting the same from other foreign banks. My 2 cents.
even if the moneys are not brought back the NDA govt should publish the list of people who have such accounts in Germany/Switzerland,. will Modi it, immediately? V Ramanathan village rengasamudram tamilnadu
There was a news spread by media that Sonia went to do surgery to a undisclosed location in US. That is the time when she went to transfer her money from Swiss bank to other location probable (Rome) or even Pakistan
Re: Sonia surgery
by vramanathan ramanathan on Jun 01, 2014 05:51 PM
It is an open secret she transferred all her ill gotten wealth to safe havens then. V Ramanathan village rengasamudram tamilnadu
Rather than beating everyone with a stick straight away and getting them to brush it deeper under the carpet, govt should first offer amnesty and a concessional tax on black money of 20% or something to make it white money. This period should last for 3 months.
After this time, any money recovered will be completely taken away and no money will be left with the owners.
Govt can also offer new infrastructure bonds, industrial zones or SEZ's which allow people to whiten this black money while also doing good for the country. While people bring money into these bonds or SEZ's, they cant take it out for at least 5 years. After 5 years they can sell or keep their equity.
Govt has to understand the mentality of the black money people. These people will not simply give up.
They need incentives to come out into the open!
And govt can create incentives for them while also doing good for the country.
