Dear Friends take out 2 min and please read this Doc-- #BLACKMONEY Fiasco….What is Black Money—Money earned illegally, by illegal means Few Facts- 1.Money Earned legally and in NRI account is not Black Money 2.Money Earned legally and in Overseas account with permission from RBI is not Black Money 3.Money Earned legally and in overseas account without permission from RBI is not Black Money as it may be taxed in other country 4.Money Earned legally and in Overseas account with permission from RBI and on which tax is not paid any were is not Black Money ,,it is only liable for Penalty and Tax recovery. 5.All the Overseas account lists are not Illeagal accounts. 6.Hence all the lists with SC are not illegal account Holders list. 7.Overseas account holders paying tax in Host Company don’t have to pay tax in India too. 8.In Sum total all the list with Govt is list of Indians or NRI’s and is not illegal. Action to be Taken as per law and Treaties-- 1.Only after Investigation can Govt know which are illegal and qualify for either Black money or penalty. 2.Hence as per treaty signed with other countries India has to Investigate and disclose only those names who have broken any Law. Implications and Bad consequence of Not Following Treaties— 1.Innocents will be harassed 2.Foreign courts and Banks won’t give info in future 3.NRIs will be deterred to invest here in India 4.Share market will go down lot of investors will loose money there 5.AG just told media that govt was going to sign with USA deal to automatically provide data regularly on Indian deposits...which he said may or may not happen now 7.Swiss is not the only tax heaven and the list from Swiss is not the only list that India is supposed to get India still has to get a lot of details from Swiss authorities to complete investigation on each account holder. Just by having names in hand cant make a legal case against a black money account holder. 8.List of names were given to SIT on 27th June so there was no intention to hide any name. Govt was building a strong legal case, which will be hampered now. Foot Note- All those who are worried about want black money ,,, go and raid all top govt officials ,,, that is were all illegal money is stashed in India only ,, in there homes ,,, in form of all benami property ,,, in form of Gold right under our noses ,,,
Posted on: Wed, 29 Oct 2014 14:39:09 +0000
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