Laundering by Politicians & Govt Officers: Inputs
Below are the key issues highlighted by you in regards to laundering by some politicians and Government Officers. Kindly review and share any additional but specific inputs you have on this subject.
We look forward to your inputs!
Transparency International India
Laundering by Politicians and Govt Officers: Inputs
1. In the initial period after demonetisation, co-operative banks were misused heavily by politicians
2. Cooperative banks have good connection with Politicians and many of them are their active members too. So it became an easy source to make black money into white
3. Cooperative banks have been accepting old cash for a commission and issuing a fixed deposit receipt of an older date
4. Petrol pumps accepted old currency for a commission and used that currency to buy fuel in bulk in advance
5. Many politicians and government officers gave money to the farmers to show it as income from farms and then took it back later after paying them a small percentage
6. They also deposited demonetized currency in their loan accounts
7. Politicians are getting equity by putting in old cash in companies which have cash on books but no actual cash in hand
8. Many State Electricity Board, Municipalities and Jal Board employees took new cash received through bill payments and exchanged it for politicians and their senior officers for old notes taking 25-30% commission
9. Some politicians also channelled their black money into the political party with an arrangement to take it back later. Political parties will be showing them as donations received in blocks of 20,000 or less from individual donors. more
We look forward to your inputs!
Transparency International India
Laundering by Politicians and Govt Officers: Inputs
1. In the initial period after demonetisation, co-operative banks were misused heavily by politicians
2. Cooperative banks have good connection with Politicians and many of them are their active members too. So it became an easy source to make black money into white
3. Cooperative banks have been accepting old cash for a commission and issuing a fixed deposit receipt of an older date
4. Petrol pumps accepted old currency for a commission and used that currency to buy fuel in bulk in advance
5. Many politicians and government officers gave money to the farmers to show it as income from farms and then took it back later after paying them a small percentage
6. They also deposited demonetized currency in their loan accounts
7. Politicians are getting equity by putting in old cash in companies which have cash on books but no actual cash in hand
8. Many State Electricity Board, Municipalities and Jal Board employees took new cash received through bill payments and exchanged it for politicians and their senior officers for old notes taking 25-30% commission
9. Some politicians also channelled their black money into the political party with an arrangement to take it back later. Political parties will be showing them as donations received in blocks of 20,000 or less from individual donors. more
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As per the law of the land all political parties and politicians can show all their wealth as donations from public of under RS 20,000 and legally make their ill gotan wealth White more
Dec 28
They purchased gold & gold ornaments in bulks with demonetised notes showing such transactions on predemonetisation dates on paying heavy premiums to the jewellers. Advanced property tax was also paid to dispose of black money held in demonetised notes. Demonetised notes were credited into the accounts of their employees and workers and got their money back in new notes. more
Dec 24
Fact is lot of money laundering is done by politicians and political parties. The step of our Prime Minister or his other ministers is totally against the motive and intentions of Demonetisation and donations received by such persons/ parties should be thoroughly sruitinised from Income Tax point of view. Otherwise no One who so ever be scrutinised. more
Dec 21
Political parties have laundered lot of money as per reports. Accounts of 100% of the parties must be audited post 8th November, 2016. All political parties not having contested elections in the last 2 State and General elections must be wound up. Amendments in law are required earliest to ensure this. more
Dec 21
It is to be seen how and what our Prime Minister does to the corrupt politicians. If political parties are exempt from income tax and scrutiny of donations, then it appears that the Prime Minister want to target common man alone, which I believe may not be the case. more
Dec 21
