Black money and politics

ReleasesPhotosFeaturesInvitationsPress Information Bureau Government Of India Ministry of Finance (17-December, 2016 21:39 IST ) Statement by Finance Minister Shri Arun Jaitley Following is the statement by Union Minister for Finance and Corporate Affairs Shri Arun Jaitley: "Political parties have not been granted any exemption post demonetisation and introduction of Taxation Laws (Second Amendment) Act, 2016 which came into force on 15th December, 2016. Income & Donations of political parties fall in the purview of Section 13A of the Income Tax Act 1961 & there is no change in its provisions. In this era of instant outrage, a 35 year old law is presented as a new law being passed by the NDA Government. I implore all journalist friends to be fully outraged against any step of the Government, if it is not against corruption. But in equal measure, I would also implore them to do adequate research before jumping the gun. Under Section 13A of IT Act 1961, Political parties have to submit audited accounts, income & expenditure details and balance sheets. Post demonetisation, no political party can accept donations in 500 and 1000 rupee notes since they were rendered illegal tenders. Any party doing so would be in violation of law. Just like anyone else, political parties can also deposit their cash held in the old currency in banks till the 30th of December provided they can satisfactorily explain the source of income and their books of accounts reflect the entries prior to 8 November. If there is any discrepancy in the books or records of political parties, they are as liable to be questioned by the Income Tax authorities as is anyone else. They enjoy no immunity whatsoever. There is no question of sparing anyone, and the political class is no exception. Infact PM Modi is setting a new example of propriety in public life, by asking all MPs & MLAs of BJP to submit their bank account details post demonetization. We would like to urge the other parties to do the same and prove their intentions against corruption." Statement of FM more  

Dear Sir, Our system is working like tortoise, it mean we can win. According to ur quote, I think it should be a great deal of politicians for conversion of BM but it is not the end. Everybody who is current can be fetched and punished. I strongly believe. My request to circle members please help the investors of PACL company, we can't get maturity money after a year long while Mr. Bhangu chairman of PACL under custody and SC ordered Govt to solve the issue by selling property of PACL and return investors money. more  

Hello! PROF. DR. TMJ.INDRA MOHAN , Sir , My comment begins with the negative sense import in your very last sentence . You should not export such a sense any longer since the countrymen have adapted to the apparently disruptive monetary reforms for better Citizen-Future in short , medium and long terms . You cannot pollute your mindset and yourself with symptoms of civil war illusions by clubbing innocent people , netas , political parties and natural justice in one go ! The Supreme Court has already chosen to not to interfere with the decision of the Modi Government while at the same time a 5-Judge-bench constituted in broader sense to restore the normals . The PM , His Excellency Modi , has already said that the Country is above the political parties but not vice versa ! He is also good detective because he detected that the 1971's Wanchoo Committee recommended Demonetisation but the then PM , Her Excellency , Mrs . Indira Feroze Gandhi purposefully brushed aside purging the Indian Monetary Economics such that the Party's prospects in Electioneering needed black money . That's why , NDA's PM is lamenting , how & why , the Congress is above the Nation ? For NDA , Nation is above NDA . My own point is that young Indians have been pampered into black wealth and black moneys by the aged-adult-Indians which is now inviting a new Enactment in the following terms. India has fixed age limits in all spheres of public & private economical activities for servicing the objectives of Nation economically . Therefore , according to me , the medicine to non-proliferation of black wealth which is the mother of black money in India lies in enacting an age limit as follows. No Citizen of India should create by way of buying / purchasing / transacting / constructing , after attainment of 60 years of age , any new immovable property (STI-RASTI) of House / Land / Factory / Gold / Silver / Foreign Currency / Foreign Bank Account. . This measure alone will prevent proliferation of dynastical / hereditary / legal-heir- supporting-dependency / inter & intra native family-kandan-tendency sustaining black-wealth-rights among younger generations of Indians . The aged adults having amassed riches of their times are offering the same logically- legally to young Indians of current times stopping young Indians to make own self-decisions rejecting ancestral handing over of black-wealth-properties. Unidentified, this has been the virus against Constitution of India . Learning to live and love the known sources of Income constitutionally will phase out black money & black wealth destroying in toto . Hence , 60 YEARS OF AGE LIMIT is my Medicinal Innovation to cure black wealth & black money as above . : 60 YEARS OF AGE LIMIT- My Medicinal Innovation : more