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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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PM salutes Deendayal Upadhyaya on birth anniv

PM salutes Deendayal Upadhyaya on birth anniv

New Delhi, Sept 25 (UNI) Prime Minister Narendra Modi today saluted Pandit Deendayal Upadhyaya on his birth anniversary.

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25 Sep 2017 | 12:07 PM
ED attaches Karti Chidambaram’s assets worth over Rs 1 crore

ED attaches Karti Chidambaram’s assets worth over Rs 1 crore

New Delhi, Sep 25 (UNI) The Enforcement Directorate today attached assets worth Rs 1,16 crore of former finance minister P Chidambaram's son Karti Chidambaram, and a firm allegedly linked to him in connection with its money laundering probe in the Aircel-Maxis deal,The ED has frozen bank accounts including fixed deposits worth Rs 90 lakh of Karti Chidambaram.

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25 Sep 2017 | 5:13 PM
Lathicharge on BHU students: Cong demands sacking of VC

Lathicharge on BHU students: Cong demands sacking of VC

New Delhi, Sep 25 (UNI) Strongly condemning the police lathicharge against students of the Banaras Hindu university who were protesting against eve teasing incidents in the university, the congress today urged President Ram Nath Kovind to dismiss the Vice Chancellor and institute a probe by a sitting High court judge.

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25 Sep 2017 | 5:14 PM
BJP meet lauds note ban, PM's diplomatic skills on China

BJP meet lauds note ban, PM's diplomatic skills on China

New Delhi, Sept 25 (UNI) The BJP National Executive today lauded Prime Minister Narendra Modi and his leadership for leading India into a new era of diplomatic endeavours both in terms of enhancing nation's image overseas and also in helping improve relations in the neighbourhood.

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25 Sep 2017 | 3:42 PM
No need of anticipatory bail to Kavya : HC

No need of anticipatory bail to Kavya : HC

Kochi, Sep 25 (UNI) Kerala High Court has ruled that there was no need for an anticipatory bail to Kavya Madhavan, wife of Dileep, who is in remand in connection with the alleged conspiracy against Malayalam actress abduction and assault case, as the prosecution had given an undertaking that she will not be arrested.

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25 Sep 2017 | 5:14 PM
Amit Shah's comments against Rahul reflect his frustration:Cong

Amit Shah's comments against Rahul reflect his frustration:Cong

New Delhi, Sept 25 (UNI) Slamming the comments made by BJP President Amit Shah against party vice president Rahul Gandhi, the Congress today said the comments reflected his frustration over the failure of the NDA Government on all fronts.

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25 Sep 2017 | 2:44 PM
Amarinder calls for collective efforts to bring Punjab back on path of development

Amarinder calls for collective efforts to bring Punjab back on path of development

Chandigarh, Sept 25 (UNI) Punjab Chief Minister Capt Amarinder Singh on Monday called for collective efforts by all sections of the society to bring Punjab back on the path of development.

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25 Sep 2017 | 4:29 PM
Lathicharge on BHU students: Cong demands sacking of VC

Lathicharge on BHU students: Cong demands sacking of VC

25 Sep 2017 | 5:14 PM

New Delhi, Sep 25 (UNI) Strongly condemning the police lathicharge against students of the Banaras Hindu university who were protesting against eve teasing incidents in the university, the congress today urged President Ram Nath Kovind to dismiss the Vice Chancellor and institute a probe by a sitting High court judge.

Badal promised to waive off loans but did nothing in 10 yrs: Jakhar

Badal promised to waive off loans but did nothing in 10 yrs: Jakhar

25 Sep 2017 | 5:17 PM

Gurdaspur, Sept 25 (UNI) Punjab Congress president and Gurdaspur candidate Sunil Jakhar today unleashed a scathing attack on the Badals on the farm loan waiver issue, charging Parkash Singh Badal with cheating the people of Punjab by backtracking on his promise to waive off the loans if the Akalis formed the government.

Tata Motors post 22 pc growth during '16-17: Pareek

Tata Motors post 22 pc growth during '16-17: Pareek

25 Sep 2017 | 5:23 PM

Hyderabad, Sep 25 (UNI) Tata Motors Passenger Vehicle Business Unit President Mayank Pareek today said that the company had posted 22 per cent growth as compared to automotive industry growth of 9 per cent during the last financial year 2016-17.

8th Jagran Film Festival honours Shabana Azmi, Praveen Bhatt

8th Jagran Film Festival honours Shabana Azmi, Praveen Bhatt

25 Sep 2017 | 4:17 PM

New Delhi, Sept 25 (UNI) Veteran actor Shabana Azmi was honoured with the ‘Icon of the Indian Cinema’ award while cinematographer Praveen Bhatt was honoured with ‘Special contributions to the Cinematic Art’ at the eighth edition of the Jagran film festival.

Ntl Workshop on 'Health System Strengthening' at Jipmer from Sep 26

25 Sep 2017 | 2:29 PM

Puducherry, Sep 25 (UNI) The Department of Preventive and Social Medicine, Jipmer in collaboration with the School of Public Health, PGIMER-Chandigarh will organize the four-day“ First National Workshop on Health System Strengthening” from September 26.

Tata Motors post 22 pc growth during '16-17: Pareek

Tata Motors post 22 pc growth during '16-17: Pareek

25 Sep 2017 | 5:23 PM

Hyderabad, Sep 25 (UNI) Tata Motors Passenger Vehicle Business Unit President Mayank Pareek today said that the company had posted 22 per cent growth as compared to automotive industry growth of 9 per cent during the last financial year 2016-17.

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