Black money info can't be made public: PM Manmohan singh

[Spring Onion]

What a lame excuse. The money belong to the Indian public looted by the thugs and the same owner public should be kept in dark ??????? what a logic.

 

[Paan Singh]

bring the ramdev,he can do some thing

 

[LURKER]

bring the ramdev,he can do some thing

whats so funny dude

 

[mautkimaut]

70 lac crore..that is 70000000000000.Yes 7 followed by 13 zeroes.
Taking Dollar as 45 , it comes to 1.5 Trillion.India has a GDP of 1.2 trillion dollars.
Manmohan Singh looks like a person who has pawned his balls to Madame.

Every day it is a game to loot, rape India.

Sadly this is what Congress does whenever it gets power.
India is boiling with impotent rage.Sometimes it feels like East India company was better.The best solution would be a Rang De Basanti....

 

[Mirza Jatt]

lets be practical...

Switzerland will NEVER allow this !! if they do, it will raise a concern for its accounts holders all over the world, including Indian a/c holdes.....and that will be an economical suicide for them.

 

[DesiGuy]

Indian PM is not as strict as he should be....

 

[indushek]

lets be practical...

Switzerland will NEVER allow this !! if they do, it will raise a concern for its accounts holders all over the world, including Indian a/c holdes.....and that will be an economical suicide for them.

What are u trying to say man, just because swiss banks will loose their customers we shouldn't bring that money back. Shame on this PM he is the most incompetent PM i have seen, atleast Devegowda used to sleep all the time and could be excused for chronic sleepomnia, he doesn't even do that to be excused.

 

[twoplustwoisfour]

lets be practical...

Switzerland will NEVER allow this !! if they do, it will raise a concern for its accounts holders all over the world, including Indian a/c holdes.....and that will be an economical suicide for them.

In case you didn't notice, UBS has already handed over information of money stacked in their accounts to the US.

 

[IndianArmy]

well in a way its good to prevent double taxation, but make the names public, which obviously will when Supreme court gets the list....

 

[Lala_Peace]

So, reading through all these Dr. Singh bashing comments, I now realize the law is what the majority here said. I hope the Ram Jethmalini led group is also reading these comments and use these in SC to force govt. to divulge the names.

Pinch me.....is this real???

Do you know after coming to power UPA II has taken these following staeps to get information about tax evasion?

1. Signed double tax avoidance treaty with 75 countries
2. Signed double tax avoidance treaty with Switzerland and just yesterday their parliament has given node to make it a law

What are these steps suggests? If anybody has any mind they can fathom the seriousness of the UPA II in relation to tax evasion.

Coming back to bringing back the black money, can anybody suggest what course of action India can take?

I was hearing to Mr. Soli Sorabjee who said the only discourse we have is going to their court and file an application regarding this.

Ok, if you suppose file an application, what will be the basis? Don't you think you need to mention the actual names and account numbers in the application to the court?

How can you get those? Yesterday, a swiss court has sentenced the whistle blower of a particular bank who provided the account details to Mr. Assange for violating the rules of the Association of Swiss Banks.

In this context how on earth one can file an application to bring back money in the Swiss court.
The only tangible discourse is identifying the tax evaders through the above mentioned treaty and then keeping a tab on them for future act of theft.

PM is right in saying what he can deliver as he sits in a responsible positions and is answerable to international rules. If you enter in a treaty you have to honor it.

PM has not the benefit of saying something and doing something. The same BJP was in power for 6 years and I did not here a word regarding this from them, then.

PM in his announcement of the agenda of the first 100 days declared that he will take step in the direction of this issue, and now the result is:

We have a treaty with 75 countries including the all important Switzerland in this regard.

Finally, one question, if Mr. Jethmalini is so sure about the complicity of Gandhi's in this, then:

Why did not he take any action against them as the law minister during NDA?
Why did he stand against Mr. Vajpayee in Lucknow and then withdrew in support of Akhilesh Das and even campaigned for him?

Is it because BJP gave him a Rajya Sabha post to do this?

 

[Lala_Peace]

In case you didn't notice, UBS has already handed over information of money stacked in their accounts to the US.

That is because a UBS employee was caught in some sort of fraudulent schemes in USA and they (USA authorities) managed to barter the person's release in lieu of the information they got.

 

[twoplustwoisfour]

Where does double taxation come into picture? Only when the money is earned legally in one country and then taken to another country.

Double taxation avoidance treaties do NOT mean that you don't pay tax in the country where you earned the money, ie, India. It means that you don't pay tax in the country where you are taking that money, ie, Germany.

We are talking about BLACK money here. That is, money earned through illegal means. Tax avoidance is but a small part of it. Black money can also include money for transaction of narcotics, ransom payments etc etc.

@Lala_Peace: Don't turn this into a Congress vs BJP thread. If BJP does something wrong, that doesn't give Congress the right to repeat the same mistakes.

Also, if US can go and get account information from the Swiss Banker's Association of American Citizen, why can't India? You pressurize them into giving you all the account information of Indians, and then you crosscheck what money is legally parked there and what is illegal. Only after that can Court come into the picture. Kapish?

Edit: You don't think UBS has operations in India? After all, Indian police is famous for framing people if you get my drift

 

[Lala_Peace]

Where does double taxation come into picture? Only when the money is earned legally in one country and then taken to another country.

Double taxation avoidance treaties do NOT mean that you don't pay tax in the country where you earned the money, ie, India. It means that you don't pay tax in the country where you are taking that money, ie, Germany.

We are talking about BLACK money here. That is, money earned through illegal means. Tax avoidance is but a small part of it. Black money can also include money for transaction of narcotics, ransom payments etc etc.

@Lala_Peace: Don't turn this into a Congress vs BJP thread. If BJP does something wrong, that doesn't give Congress the right to repeat the same mistakes.

Also, if US can go and get account information from the Swiss Banker's Association of American Citizen, why can't India? You pressurize them into giving you all the account information of Indians, and then you crosscheck what money is legally parked there and what is illegal. Only after that can Court come into the picture. Kapish?

Edit: You don't think UBS has operations in India? After all, Indian police is famous for framing people if you get my drift

I am not turning this political, this tread has already been political before I came and commented. When you attack the PM of the nation for some reason insane to sensible person and then go on calling names, then you should not expect me to hold my horses.

I know about double taxation and in my reply I have said it is not easy to get back black money back to India. I have also mentioned the scenario where this is further more difficult to access the same.

Regarding UBS employee you are either joking or not serious. You want Indian police to frame UBS employee for false charges and then barter information. Do I need to give you data to back the failure of police in Indian courts. By the way, do you know who was that UBS employee? For your info, he is Mr. Martin Liechti, head of North and South America for UBS.

Do you think India has that bulling power to frame somebody of that nature and extract info. If somebody is on grass then probably, that can be comprehended, otherwise I am far away from any sort of high.

And also the info was not regarding black money, it was regarding the non-payment of tax in US by wealthy Americans.