Congress won't crack down on illegal money - part 2

Description

"The whole issue is becoming curiouser and curiouser. But later the Government, in a brazen manner says the recovery of tax arrears of about Rs 91,000 crore from stud farm owner Hassan Ali Khan is not possible. ""In Hassan Ali Group, the recovery is not possible though all known immovable and moveable assets belonging to the group have been attached," the Finance Ministry said in its submission before the Standing Committee on Finance. Not only that, the list of illegal money holders from Lichtenstein Bank (provided by German Government) is available with the Government of India along with the major list of depositors from HSBC Geneva. As far as the list provided by the German authorities is concerned, the Government maintains that it cannot reveal the names since they have been obtained under the double taxation treaty from Germany. The Government also says that it is proceeding against the account-holders under tax laws. A report in The Economic Times suggests that out of the 50 names in the LGT list, 25 belong to Mumbai. It also says that none of the 25 account holders are big industrialists or well-known individuals. As if big industrialists and politicians are going to hold it under their names! It will be held under benami names. Read more at: https://rvaidya2000.com/2013/04/10/congress-wont-crack-down-on-illegal-money-part-2/

Publication Date

10-4-2013

Publication Title

Niticentral.com

Keywords

Corruption, Balck money, Illegal money, Taxation, Tax haven, Foreign jurisdictions, Investment

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https://rvaidya2000.com/2013/04/10/congress-wont-crack-down-on-illegal-money-part-2/

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