Good Morning Friends How to bring back the black money of the Indians laid in the foreign banks within a time frame.............? I feel government of India should call for a national debate or invite opinions of the people of India about how to bring back this money and follow the way the majority of Indians feels as right way Its a good initiation that new government of India has taken at least an initial step towards this by setting up an SIT (special investigation team) but this team also have some limitations, they have to work under the law frames of the government of India and governments of those foreign countries where money is laid. We can not expect the governments or the banks which kept this block money safely would cooperate and show 100$ honesty in disclosing the account. When they are benefiting from it why they do so. Hurting their own customers never help in running any business. So trying in that way is just a waste of time I feel What is very important here is to finish this job within a time frame. More delay in the process makes the way for those culprits who kept money in the foreign banks to withdraw the money and relocate or invest elsewhere and that may very well block the roads for our SIT In my last fb article I suggested some kind of Amnesty schemes to encourage the people to bring back the money on their own. My this suggestion off course the last one in the alternative methods. When no other methods works I feel this is only the way to finish the job within the time frame. I come to know that government of India is not much interested in it because it hurts the other honest tax payers There is no doubt any amnesty schemes to bring back the black money certainly a kind of punishment to the honest tax payers but what I feel if the whole black money comes back to India under such amnesty schemes government of india can reward the honest tax payers by making considerable reduction in the tax rates in the coming years. Senior BJP leader and a expert in economy has already said Dr.Subramanyam Swamy if that money comes back Indians need not pay tax for many years, so it will be a reward for the honest tax payers that they need not pay tax for some years or they pay less tax I feel the shortest way to achieve the goal should be followed here even its with some kind of compromise of law. The important thing is to finish the job within time frame not allowing the culprits to withdraw the money and relocate it somewhere else. So when there is no other alternative I feel only official pardon amnesty scheme is only the solution. I welcome the opinions of the friends and public in this matter.........
Posted on: Sat, 02 Aug 2014 00:19:55 +0000
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