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India must exert pressure on tax havens to unearth black money: Book

New Delhi, June 28 (UNI) India should exert pressure on tax havens to exchange relevant bank account information and must also pitch for criminal sanctions in the global taxation treaties to fight the menace of black money, a book by tax expert Shailandra Kumar has said.
As the US is compelling countries around the world to sign the Foreign Account Tax Compliance Act (FATCA), “ India should rise to the situation and push forward its agenda for exerting pressure on tax havens to exchange relevant bank account information with them…There would not be a better situation than now when there is such bone-breaking pressure on institutions like HSBC Bank …The noose is getting tightened on the black money or at least the mood is being set to counter the evil of black money for the first time in a serious and coordinated manner,” Mr Kumar said in his book ‘ It’s Raining Black’.
Simultaneously, India has to address the specific domestic challenges and major institutional shortcomings which are adding to the rising graph of black money. It is in this context that “ judicial activism of the Supreme Court has already earned the acceptance of the masses . The court is making every possible effort through the SIT to bring black money hoarders to book. Legal impediments like confidentiality clauses in the Double Taxation Avoidance Agreements are being renegotiated….But if the Indian policy still chooses not to join the global bandwagon and harness the domestic consensus against black money, the bus would be missed forever”, the book authored by the Founder Editor and CEO of the popular Taxindiaonlie said.
While giving credit to the Narendra Modi Government for coming out with legislations to check black money, the book said at one stage India will have to resort to the UN Convention Against Corruption to recover a part of the illicit funds parked in tax havens.
On the size of the black money, the book cites various studies which indicate the kind of money parked in the Swiss banks. Based on these studies, it said , size of the unaccounted and illicit money for India could be anywhere between 0.5 trillion to one trillion dollar traced to the Swiss banks.
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Those with evil designs will be taught befitting lessons by our soldiers if they cross the line: Naidu

Those with evil designs will be taught befitting lessons by our soldiers if they cross the line: Naidu

New Delhi, July 23 (UNI) Issuing a warning to Pakistan for aiding and abetting terror, NDA nominee for Vice Presidential poll Venkaiah Naidu today said that if those with evil designs and ulterior motives cross the line, they would be taught "befitting lessons" by our brave soldiers.

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23 Jul 2017 | 3:52 PM
Path for Ram Temple at Ayodhya will be cleared before 2019 LS polls: Sakshi

Path for Ram Temple at Ayodhya will be cleared before 2019 LS polls: Sakshi

Vrindavan, Jul 23 (UNI) Controversial BJP MP from Unnao Sakshi Maharaj has unleashed a flurry by announcing here that the NDA government will go to the 2019 Lok Sabha polls after construction work of the much awaited Ram Temple at Ayodhya.

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23 Jul 2017 | 2:42 PM
Charge sheet against Gayatri Prajapati for lodging fake cases against UP IPS officer, wife

Charge sheet against Gayatri Prajapati for lodging fake cases against UP IPS officer, wife

Lucknow, Jul 23 (UNI) Lucknow police is likely to submit charge sheet against former Uttar Pradesh minister Gayatri Prasad Prajapati in the case registered by activist Dr Nutan Thakur at Gomtinagar police station in connection with her along with her husband IPS officer Amitabh Thakur's implication in various criminal cases.

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23 Jul 2017 | 2:37 PM
Constructing  building over roads, Rly tracks-a solution to shrinking urban spaces?

Constructing building over roads, Rly tracks-a solution to shrinking urban spaces?

New Delhi, Jul 23 (UNI) Constructing building in air space over roads, railway tracks and water bodies is the out of the box solution presented before the Union Ministry of Urban development here.

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23 Jul 2017 | 2:51 PM
RERA will hit fly-by-night operators: Key Construction player

RERA will hit fly-by-night operators: Key Construction player

New Delhi, Jul 23 (UNI) Even as the newly enacted the Real Estate Regulatory Authority (RERA) Act is a path-breaking and a game changer law; the players and builders need to be cautious as many operators had to pull down their shutters once the law was enforced in Dubai.

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23 Jul 2017 | 3:24 PM
Women's World Cup: Modi wishes 'Best of Luck' to women's team for finals

Women's World Cup: Modi wishes 'Best of Luck' to women's team for finals

New Delhi, Jul 23 (UNI) Prime Minister Narendra today wished Best of Luck to Indian Women's cricket team for the finals against England at Lords.

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23 Jul 2017 | 4:16 PM
UP Assembly to continue till Tuesday; House to condole death of sitting member tomorrow

UP Assembly to continue till Tuesday; House to condole death of sitting member tomorrow

Lucknow, Jul 23 (UNI) Amid boycott by the opposition members of the budget session, Uttar Pradesh Assembly is slated to be extended for a day till Tuesday next, officials said here today adding that the Assembly would be adjourned after paying tributes to the death of the sitting member while tomorrow's agenda would be taken on Tuesday.

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23 Jul 2017 | 3:19 PM
Ill management of funds affected CMPFO members  financial health

Ill management of funds affected CMPFO members financial health

23 Jul 2017 | 10:15 AM

New Delhi, Jul 23 (UNI) Non-implementation of recommendation of the actuary led to acute deficit in Pension Fund, incorrect diversion of funds from Provident Fund (PF) account to Pension Fund account, non-adherence to the government’s guidelines for investment fund of own employees have adversely affected the financial interests of the members of the Coal Mines Provident Fund Organisation (CMPFO), the public expenditure watchdog report said.

HIV and cancer teams double up to seek out new disease killers

HIV and cancer teams double up to seek out new disease killers

22 Jul 2017 | 7:11 PM

By Kate Kelland, Health and Science Correspondent LONDON, Jul 22 (Reuters) HIV experts at an international conference starting today are keenly courting colleagues in oncology to explore whether advances in harnessing the immune system against cancer can help the search for a cure for AIDS.

JPCC celebrates 26th death anniversary of former Prime Minister Rajiv Gandhi

21 May 2017 | 6:22 PM

Ranchi, May 21 (UNI) The Jharkhand Pradesh Congress Committee today paid floral tributes to former Prime Minister Bharat Ratna late Rajiv Gandhi on his 26th death anniversary which was celebrated by the party as ‘Shahdat Diwas’.

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