The Supreme Court once again confronted the government today over the poverty of information about black money sent abroad by Indians. "Is it from arms dealing... drug peddling? These are very serious issues," the court observed while reprimanding the government for focusing on tax evasion in its inquiry into black money. A petition filed by a group of people including former Law Minister Ram Jethmalani asked that the government be...
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Legalities stop us from disclosing black money information: Pranab
Unfazed by opposition attacks and questions from the Supreme Court, government on Tuesday maintained that it cannot disclose information received from foreign entities on black money held by Indians abroad because of absence of legal framework. Finance minister Pranab Mukherjee, however, dismissed opposition criticism that it was not disclosing information because such disclosure could result in the government's fall. "Let us understand the issue. No information can be made available unless there...
More »India may have to wait till 2012 for information on black money
India, Switzerland had signed a protocol to amend the DTA last year It is expected to help India get details about illicit wealth India may have to wait till at least next year for information from Switzerland on the possible black money trail to Swiss banks, as a treaty for the same might come into force only by the end of 2011. The treaty needs to be ratified by various authorities in India...
More »Maximum Dithering for Minimum Wages!
Even though the Central Government agreed to link the wages paid under MG-NREGA to the Consumer Price Index for Agricultural Labourers (CPIAL), it shied away from paying statutory minimum wages in various states of India. Their logic for this: Lack of clarity on who will bear the extra financial burden—the Centre or the states? A letter from the Prime Minister Manmohan Singh to UPA and NAC Chairperson Sonia Gandhi dated 31...
More »Work on slush cash data by Jayanta Roy Chowdhury
The Centre has signed deals or is in talks with 78 countries besides Switzerland to amend double taxation avoidance treaties to facilitate information-sharing on slush funds held by Indians abroad. These countries include Mauritius, Brazil, Canada, Italy, the UK, the US, the UAE and the Channel Islands. The Swiss parliament is set to ratify the tax treaty with changes which will allow India to gain access to information on black money held...
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