-The Times of India   The finance ministry is devising a voluntary tax disclosure scheme that could provide amnesty to people who have stashed unaccounted money in tax havens and other jurisdictions abroad by charging them a "levy". Finance minister Pranab Mukherjee, after a meeting with industry captains recently, activated a committee on black money set up last year to work out a scheme on voluntary disclosure. This scheme will allow corporates and...

There are structural aspects to a problem as complex as corruption. These cannot be tackled through punishment alone. Just as our society tends to latch on to holy men for miracle cures, in recent weeks, the urban middle classes have placed great hopes on an anti-corruption movement led by a pious man in a Gandhi cap. (The other claim on leadership by a holy man in red robes did not...

-The Times of India   The Central Bureau of Investigation (CBI) on Monday arrested an income tax commissioner Daya Shankar in Mumbai for allegedly accepting a bribe of Rs 2 lakh from a private company for passing a favourable order in an appeal matter. "Shankar, commissioner IT (appeals), was arrested this morning from his office in Bandra for demanding and accepting bribe for settling and issuing a favourable order in an appeal matter...

India Inc too wants an honest day’s work On August 22, a public holiday across north India, Sunil Sirohi, a middle-aged IT executive, joined Ramlila Maidan’s anti-corruption agitators with wife Jyoti and a pre-teen son. “It’s the first such movement we’ve been part of,” he says. One of the attractions was bringing young Siddhartha up-to-date on Anna Hazare, the self-styled Gandhian from Maharashtra who has become the public face of...

The Supreme Court has converted a high-powered committee of the Government of India, on the issue of black money, into an SIT under its own direction. This is an expression of no-confidence in the executive. The government’s intention in tackling either the problem of black economy or bringing back the black savings stashed abroad is suspect. According to reports, the money stashed abroad by the corrupt businessmen, politicians and others...