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Topic : Income tax and more
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PM directed ministers to declare their assets..

Created by : Deepak Kubal, Media Coresspondent, Media House  | 06 08 2011 11:17:42 +0000
Industry : Radio, TV & FilmsFunctional Area : Politics(Personal Interests)
Keywords : india assets manmohan singh income tax pm ministers asset declaration
Activity:  490 views;  last activity : 06 12 2011 11:12:57 +0000

Prime Minister Manmohan Singh has asked ministers to declare their assets as also those of their spouses and dependents along with any business interests, as per the annual exercise.

The ministers have been asked to furnish the details by August 31 in accordance with the Code of Conduct for Ministers.

Will this have any fruitful result?

  
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What is the end result of declaring your assets, anayway? You stuff more in the hands of IT dept or the ED and escape the law and dupe the general public. Moreover, the golden opportunity to stash all you have in Swiss Banks makes your job even more easier to declare less and once again escape from the authorities or if you get caught, make them party to your wrong-doings.

Nothing seems as simple as it may seem. Its all how you manipulate the men and money around you to your benefit.
By Saibal Ray, SQA, confidential  06 11 2011 09:19:26 +0000
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This should be done a earlier.The Congress govt is in a trauma with ministers getting ready to go to jail. Also as you have righly said will they decalre what they have stashed at Switzerland or other tax havens
By sanjay dey, Tax & accounting , Consultatnt  | 06 12 2011 11:12:57 +0000
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It is a good move but it remains to be seen as to how many of them declare their assets honestly and also if there is any wrong doing how many of them will be punished.
By Shashi Kumar U, Manager accounts & commercial, Mazda Concrete Products Pvt Ltd  | 06 12 2011 11:11:12 +0000
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UPA Chairperson and the President of All India Congress Committee “Sonia Gandhi” has around $9.41 billion (Rs 42,345 crore) to $18.66 billion (Rs 83,900 crore)in Swiss Bank accounts, according to the article on Wikipedia. According to the article, Swiss magazine Schweizer Illustrierteon 11 November 1991 revealed that Sonia Gandhi was controlling secret Swiss Bank accounts worth $2.2 billion (Rs 10,000 crore). If these are reports are true then India is in bigger trouble, you might have ever imagined. As, there are so many Indian politicians who are supposed to have bank accounts in Swiss Bank. Even if 20% of them are having bank accounts, still there would be billions of dollars of India rotting in Swiss Bank.
By Krishna , Senior Talent Acquisition Specialist, XXX  | 06 12 2011 07:32:52 +0000
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Hey Mr. Rokit Thakur,

It is the Code of conduct(ministers) , sec 1(A), 2(A), 2(E), 3.2 , .This is highlighted that the returns are to be submitted by 31 Aug every year. Nothing new here. They are implementing it.
By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 06 10 2011 04:03:24 +0000
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Like Mr. Murlidharan said....What about accounts outside country?? also why time given till Aug.??? to adjust the money?? anyways! atleast PM shown that courage...should be appreciated!!
By Rohit Thakur, Electrical Engineer-Industrial, Quality Engineering and Software Technologies  | 06 09 2011 04:24:24 +0000
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Its a publicity stunt! They will, jolly well, declare their Indian assets, how about assets in Swiss Bank and other international banks and stakes in international corporations?
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 06 09 2011 02:42:56 +0000
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Within the framework and also within so much corruption prevailing PM has atleast cautioned the ministers to be clear and declare their assets. This is a correct precedent to be set as a principal minister to other ministers. Some may declare and some may not declare but yet there is some sort of clear words that sends the right signal for others to follow. They are the leaders(elected) by the country and hence they have to be clear at least in the face of public opinion.
By Rajendran Mariagnanam Mariagnanam, Founder and managing partner, Braintrain consultancy services LLP  | 06 08 2011 15:53:31 +0000
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It is mandatory that every minister has to,  either to PM or CM as the case may be, need to declare their Assets. Also, if they like to run any business out-side India by any of their associates viz, son,daughter, in-laws etc. This helps identify the individual accrue assets, abnormally, in a year-time.  In case of , any doubt or complaint, their records can be verified and proved that it is amazed during their tenure of occupying the Office.

Also help Income tax dept. guy job little easier. It is a step towards the accountability of ministers in Public Governance.
By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 06 08 2011 13:55:08 +0000
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Before that let him advise the UPA Chairperson declare her assets, including money in foreign banks, if any..
By Suryanarayan Murthy, Free lancer  | 06 12 2011 07:30:40 +0000
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I 100% agree with Deepak, also how would they declare property bought on their family's name,
By Gurleen Kaur, CMD, GKM IT & Engineering  | 06 10 2011 02:08:06 +0000
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What result will it fetch. The money is out there in Swiss banks, are they going to declare that?? No!! Then what is the use?? What does he want to show?
By Deepak Kubal, Media Coresspondent, Media House  | 06 08 2011 11:33:03 +0000
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