Despite all the fanfare around the law to unearth unaccounted money and assets held by Indians abroad, the first attempt to get the owners of such wealth declare it has been a damp squib. "It has not even skimmed the surface (of the overall unaccounted wealth held by Indians abroad),
90 days compliance window ending 3oth september miserably failed in its attempt to unearth black money.where is 82lac crores and where is 3700crores,it is joke
During the three-month compliance window that was given to disclose unaccounted wealth stashed abroad, only 638 declarations amounting to Rs 3,770 crores were made
Though there are no authentic estimates of Indian wealth held abroad illegally, various gustimates suggest that it could be 1.5 times of the Indian economy.
A fraction of hidden money has only come..The problem remains the same and likely to remain for the next few decades.
The only way to tackle the menace is first to have an absolutely transparent and fair tax regime and after that one can begin with the compliance issues.
Black Money Comes Mainly From India: Assange
At a stage where governments around the world have tried to hide away from the embarrassment caused by WikiLeaks expose on black money, founder Julian Assange speaks exclusively to TIMES NOW's Editor-in-Chief Arnab Goswami on the Swiss bank data and Indian names features in the same. Download the Times Now India's Election HQ app and get all the election info at one go.
Click here to watch this video
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Posted by: Lakshminarayanan <adayaranumon@gmail.com>
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