-The Times of India NEW DELHI: In its drive against tax defaulters, the income tax department published a full-page advertisement in newspapers on Saturday naming 29 individuals and companies, asking them to `pay tax arrears immediately'. Many of these entities are `not traceable' in the department's records or have no assets to recover. The total arrears against them amounts to around Rs 448 crore. It seems the biggest tax defaulters are yet to...
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Rs 6,000 crore and counting: Windfall from tax on stashed cash after note ban -Dhananjay Mahapatra
-The Times of India NEW DELHI: Vice-chairman of the special investigation team (SIT) on black money, Justice Arijit Pasayat, said on Friday that after demonetisation, the Centre has collected around Rs 6,000 crore as tax on unexplained cash deposits so far, and the amount could go up. Tax authorities sought explanation from individuals, who deposited substantial amount of cash after demonetisation of Rs 500 and Rs 1,000 notes, either in their own...
More »The devil is in the fine print -Yogendra Yadav
-The Hindu Electoral reforms announced in the Budget are not what they are claimed to be — they will neither cleanse our politics nor bring transparency Given his interest in cricket, this must be called Finance Minister Arun Jaitley’s ‘doosra’. His announcement on electoral reforms in his Budget speech combined an element of surprise, some degree of deception and a sleight of hand — all that go into a doosra in cricket....
More »Farming goes to seed -Jayshree Sengupta
-The Tribune Demonetisation didn’t overly impact the sector, but devitalisation is a concern THERE has been a lot of speculation about the extent of damage due to demonetisation on agriculture. Small farmers suffered most because cash in hand means a lot to them. They were unable to pay for inputs like fertilisers, seeds and farm labour and experienced low demand for their perishable produce. The latest data from government’s agricultural ministry however...
More »How the Black Economy Grew in Post-Independence India -Arun Kumar
-Caravan Magazine Arun Kumar is an eminent economist who has been studying the black economy in India for close to four decades. His 1999 book The Black Economy in India is among the foremost accounts of the black-money problem in the country. In Understanding the Black Economy and Black Money in India: An Enquiry into Causes, Consequences and Remedies, released in February 2017, Kumar discusses the misconceptions around black money, the...
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