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Topic : Income tax and more
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Finance & Accounts

 
Created by : ravi mahajan, MBA/PGDM student, mitcon  | 06 10 2011 14:26:13 +0000
Activity:  622 views;  last activity : 09 27 2011 07:48:28 +0000
 
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They should.. But would they.. and even if they do so .. will we get right answers?? What will we do with the declaration when the real assets to be declared .. the one which are trashed abroad are not even going to come up..
By Kavitha Shankar, Sr/Principal Coresspondent, ABC  06 11 2011 05:49:05 +0000
 
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While i appreciate the spirit in which this discussion has been started, and firmly support the spirit and concept, i must beg to differ.

 

The Supreme court of india is not an enforcement agency for anything. IF there is a rule that says ministers should declare assets (in a time frame) and if a minister has not done so and IF you or I or a citizen of India file a case about the lapse in the misnister's action, then the Supreme Court of India can do something about it when the case finally reaches it.

 

As far as the income tax authorities are concerned I am not sure if they can also act SUO MOTO (as it is called) without a reasonably proven complaint.

 

The fact is the procedure for minister's selection must be changed. They must be vetted, their assets declared, their back grounds checked by police etc (the way our passport applications are treated only much much more so) before their appointment is confirmed.

 

Then age old question surfaces: Who polices and verifies the integrity of those who check on the ministers?


By RAMESH KANDADAI, Principal Consultant, ARM Consultants  06 11 2011 10:37:07 +0000
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I agree with Kavitha Shankar. All politicians know how to cheat Government as well as the people of India.
By R N Bhattacharyya, Freelancer, Freelancer  | 09 27 2011 07:48:27 +0000
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Yes Mr.Rathin, but they never worry about such activities.  See the example of Yediyurappa, A.Raja, Kanimozhi, Suresh Kalmadi, Reddy brothers........

 


By Paul Sureshkumar, Manager, Selvan Marketing  | 09 27 2011 07:18:36 +0000
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At least Supreme Court issue an order for all the 543 MP's and all the MLA's. The concerned people will be in deep trouble.


By Rathin Deb, Freelance Retail Consultant  | 09 27 2011 07:14:43 +0000
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But there is no use in implement the order. It is not practically possible to go with such order. Politicians and Govt. officials are one and same. The binami (false owner) to be avoided and then only this kind of land sealing will be useful. Is there any sealing for holding amount in India or the world. The IT and Sup. court is not worry about the source of income. Within five years the politicians and the co-govt. staffs is earning double or triple the assets means, there is no control in India. God alone stand against those culprits. In India, financial crime is not at all a crime, since the law is having so many loop holes. The middle class are the only affected persons. But people like Anna, Gururamdev, Ministers in central and state are the only beneficiaries.
By Paul Sureshkumar, Manager, Selvan Marketing  | 09 27 2011 07:09:48 +0000
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Income Tax cannot declare to expose Minisers assets, but Supreme Court can order for it. In Kerala, the ruling party themselves had told that they would expose the assets of each Minster. Same way if every ruling party can come up with such a step, there is nothing better than that.
By Anna George, Web Analyst, NichePro Consulting LLC  | 09 27 2011 05:10:45 +0000
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Any one defying, including the top brass the Government, OATH OF SECRECY, should be punished without favour or nepotism, if they are found breaching trust of the people, the constitution, either by indulging himself in amassing disproportionate asset or being a mute spectator allowing cabinet colleagues to amass wealth or allowing unconstitutional authorities (self-emulated personalities who becomes even more powerful than the constitutional authorities) to amass wealth, etc. There should be some provision to banish such persons from the country with their family who enjoyed such ill-gotten wealth by cancelling their citizenship to places where daily life becomes too difficult, say, Antartica.
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 09 27 2011 02:55:14 +0000
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Mr.Ravi this type of declaration is not only for ministers but also for Cine actors, Judges, Business persons, Sanyasis like Saibaba, Ramdev, Nithyananda, etc. But one standing instruction to be implemented to locate all the Binami documents into Original and Trustees into accountable. Assets all over the world, not only in India should be taken into account.
By Paul Sureshkumar, Manager, Selvan Marketing  | 07 26 2011 13:29:22 +0000
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Kavitha is right. What about assets held in benami names or in the names of their relatives?? Declaration of one's own assets will not help.
By MS_Pi , Top Management, Confidential  | 07 26 2011 10:29:23 +0000
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gd point kavitha


By puneet , Manager Admin  | 06 15 2011 12:00:08 +0000
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I have serious doubts against the credibility of the government staff be it court or the Income Tax
By V.MUKUNTHAN , Manager-HR, SOUTHERN AGRO ENGINES (P) LTD  | 06 14 2011 05:20:25 +0000
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Ministers and public servants are servants of society and in no case they are supposed to have any profit based industries in their kit and kin. hence there should be some promulgation as they are for the people they should not have much to have establishments that make them indirectly rich. The Lokpall bill should include such clauses and also should not allow the antisocial elements into the governance of the soceity.
By Rajendran Mariagnanam Mariagnanam, Founder and managing partner, Braintrain consultancy services LLP  | 06 12 2011 15:02:13 +0000
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The issue is that the Govt is supreme. Only they can pass the law for declaration of assets. The Supreme Court and the IT Dept can only enforce a law. Our country has a pathetic record of law enforcement. So, even if such a law was to be passed, its enforcement would be a dream......
By Ajay Chaudhari, Chief Executive Officer, Adroit Consultants  | 06 11 2011 17:49:49 +0000
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hello Sarika,i feel only Supreme Court is competent to give such kind of oreders and not IT dept because IT dept.directly comes under Central Government.
By jairaj shyam prasad, Production Manager, BOSCH Ltd  | 06 11 2011 16:36:01 +0000
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yes kavitha i too agree withn your statement but goverment shall not allow because all of them arebig thiefs
By Birendra Sah, Relationship Manager, Reliance Money  | 06 11 2011 14:22:24 +0000
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It is of no use till it can be verified and any asset found beyond that is confiscated by government . 


By Vidhu Dar, CEO/MD/Director, Shiva's Retreat  | 06 11 2011 14:17:08 +0000
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Kavitha I agree with your statement in toto.


By Rathin Deb, Freelance Retail Consultant  | 06 11 2011 13:13:39 +0000
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You must have to have believe in some one.
By sanjay kumar paswan, Head chef, saffron lounge by vineet Doha UBD  | 06 11 2011 10:15:31 +0000
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yes they should give order to all ministers, member of parliament and MLA to declare their asset,i can confidently say that many ministers even those who r not famous or highlighed in country the have property of more than 1000 crore, i m not talking about famous or well known politicians....becose they r very poor fellow....befor election every candidate have to show their property and i think they show property of their driver or servant instead of self...its very disgusting for us not 4 them, we know every thing but we always elect currupt and rich politician and party....
By ravi mahajan, MBA/PGDM student, mitcon  | 06 10 2011 14:26:13 +0000
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Are we assuming that the supreme court and income tax authorities are above board? And is it their primary duty to do so? We have other agencies for this purpose. Let them do their job without overburdening our judicial system
By Raju V P, Senior Manager, an International Bank  | 09 26 2011 18:33:54 +0000
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Minister's assets to be declared by fiat and by law,Supreme court can only enforce and interpret existing laws,not create them,they may advise on the need for a law.IT Dept is under a minister,hence can't be expected to issue an order like that,it's for ministers to declare their assets in public domain voluntarily...
By Suresh KP, General Manager, Books for Change  | 06 14 2011 13:32:29 +0000
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They may be made to file income tax returns and someone interested in there assets profile can and should get a profile from rti.why should there assets be made public they do have a privacy issue.They too are human,they enjoy and should enjoy there own privacy.
By sandesh saboo, Research Associate/Analyst, saboo associates  | 06 13 2011 12:20:33 +0000
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frist see the honest than thought
By DEEPAK MITTAL, GENERAL MANGAR,  | 06 11 2011 15:27:46 +0000
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Supreme court or IT dept. is not an independent Organization to have the power to implement a rule. But it support or direct the Govt. to undergo such changes, since we are secular country. See, the Judges and Lawyers are supporting the 2G or some national criminals means, they too have no love on our country, instead they are taking it on professional way to earn money. For example..Ram Jethmilani is a BJP leader, who is doing favour Kanimozhi(MP) DMK(Cong alliance)means, they Lawyers have to punished, when thy take the matter in the wrong sense. They should be banned at least one year for not to participate in any court for the sake of natinal interest. Simply, the judges and lawyers are mocking on us. They earn money and we are silent liseners. God alone can punish those people.
By Paul Sureshkumar, Manager, Selvan Marketing  | 06 11 2011 13:40:40 +0000
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I agree with Mr. Ramesh. It is only a code of conduct & not a law. However, it is desirable that all need to follow. I think Home Affair develop these codes.


By KALIYAMOORTHY , Oil & Gas Area Coordinator, Undisclosed  | 06 11 2011 11:55:39 +0000
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